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

September 2024

About

Overview In September 2024 South Korea's Mineral fuels, mineral oils and products of their distillation exports accounted up to $4.21B and imports accounted up to $12.5B, resulting in a negative trade balance of $8.25B. Between September 2023 and September 2024 the exports of South Korea's Mineral fuels, mineral oils and products of their distillation have decreased by $-894M (-17.5%) from $5.11B to $4.21B, while imports decreased by $-1.13B (-8.33%) from $13.6B to $12.5B.

Destinations In September 2024, Mineral fuels, mineral oils and products of their distillation were exported mostly to Australia ($821M), Japan ($546M), United States ($462M), Singapore ($361M), and Philippines ($340M), and were imported mostly from Saudi Arabia ($2.49B), United States ($1.72B), United Arab Emirates ($1.28B), Australia ($1.26B), and Qatar ($995M).

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

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (September 2023 - September 2024)$-894M(-17.5%)

IMPORT GROWTH (September 2023 - September 2024)$-1.13B(-8.33%)

MAIN DESTINATION (September 2024)Australia$821M

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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