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

About

Exports In 2022, South Korea exported $65.2B in Mineral fuels, mineral oils and products of their distillation, making it the 18th largest exporter of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 4th most exported product in South Korea. The main destination of Mineral fuels, mineral oils and products of their distillation exports from South Korea are: Australia ($10.6B), Singapore ($7.32B), United States ($6.29B), Japan ($5.18B), and China ($4.81B).

The fastest growing export markets for Mineral fuels, mineral oils and products of their distillation of South Korea between 2021 and 2022 were Australia ($7.16B), Singapore ($2.89B), and Philippines ($2.83B).

Imports In 2022, South Korea imported $191B in Mineral fuels, mineral oils and products of their distillation, becoming the 6th largest importer of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 1st most imported product in South Korea. South Korea imports Mineral fuels, mineral oils and products of their distillation primarily from: Saudi Arabia ($34.5B), Australia ($26.7B), United States ($23B), United Arab Emirates ($13.1B), and Kuwait ($10.7B).

The fastest growing import markets in Mineral fuels, mineral oils and products of their distillation for South Korea between 2021 and 2022 were Saudi Arabia ($14.2B), Australia ($14.1B), and United Arab Emirates ($6.88B).

COMPANIES In 2023, leading companies such as Tesla (48), LG Electronics (29), and Samsung (14) were at the forefront of shipping Mineral fuels, mineral oils and products of their distillation from South Korea to the United States.

Latest Trends

August 2024

About

Overview In August 2024 South Korea's Mineral fuels, mineral oils and products of their distillation exports accounted up to $4.71B and imports accounted up to $14.8B, resulting in a negative trade balance of $10.1B. Between August 2023 and August 2024 the exports of South Korea's Mineral fuels, mineral oils and products of their distillation have increased by $268M (6.02%) from $4.44B to $4.71B, while imports increased by $2.15B (16.9%) from $12.7B to $14.8B.

Destinations In August 2024, Mineral fuels, mineral oils and products of their distillation were exported mostly to Australia ($705M), Japan ($626M), Singapore ($616M), United States ($393M), and China ($353M), and were imported mostly from Saudi Arabia ($2.47B), United States ($2.18B), Australia ($1.48B), United Arab Emirates ($1.39B), and Qatar ($1.18B).

Growth In August 2024, the increase in Mineral fuels, mineral oils and products of their distillation's year-by-year exports was explained primarily by an increase in exports to Australia ($339M or 98%), Vietnam ($169M or 136%), and Philippines ($104M or 36.6%). In August 2024, the increase in Mineral fuels, mineral oils and products of their distillation's year-by-year imports was explained primarily by an increase in imports from United Arab Emirates ($537M or 73.5%), Australia ($388M or 15.8%), and Egypt ($315M or 1.17k%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (August 2023 - August 2024)$268M(6.02%)

IMPORT GROWTH (August 2023 - August 2024)$2.15B(16.9%)

MAIN DESTINATION (August 2024)Australia$705M

This section shows Mineral fuels, mineral oils and products of their distillation's exports and imports data at subnational level for South Korea. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Mineral fuels, mineral oils and products of their distillation over time.

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