Mineral fuels, mineral oils and products of their distillation in   South Korea

Overview In October 2024 South Korea's Mineral fuels, mineral oils and products of their distillation exports accounted up to $3.59B and imports accounted up to $13.2B, resulting in a negative trade balance of $9.56B. Between October 2023 and October 2024 the exports of South Korea's   Mineral fuels, mineral oils and products of their distillation have decreased by $-1.83B (-33.7%) from $5.42B to $3.59B, while imports decreased by $-1.16B (-8.1%) from $14.3B to $13.2B.

Destinations In October 2024, Mineral fuels, mineral oils and products of their distillation were exported mostly to Australia ($542M), Japan ($440M), China ($365M), United States ($334M), and Philippines ($325M), and were imported mostly from Saudi Arabia ($2.44B), United States ($1.87B), United Arab Emirates ($1.45B), Australia ($1.25B), and Qatar ($1.25B).

Growth In October 2024, the decrease in Mineral fuels, mineral oils and products of their distillation's year-by-year exports was explained primarily by a decrease in exports to Indonesia ($-105M or -69.4%), Togo ($-80.5M or -49%), and Iraq ($-42.6M or -99.6%). In October 2024, the decrease in Mineral fuels, mineral oils and products of their distillation's year-by-year imports was explained primarily by a decrease in imports from Russia ($-1.12B or -67.1%), Saudi Arabia ($-309M or -10.5%), and Kuwait ($-293M or -30.3%).