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2022
Exports $486MWorld Rnk 58 / 160
Flag Rnk 166 / 1204
2022
Destination $30.4M China
2021 - 2022
FASTEST GROWING MARKET $30.4MSpain
2022
PRODUCT COMPLEXITY IN Petroleum Gas-1.98Rnk 1000 / 1025
2022
Imports $46.9BWorld Rnk 7 / 222
Flag Rnk 3 / 1213
2022
Origin $8.21B Australia
2021 - 2022
FASTEST GROWING ORIGIN $8.21BAustralia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $486M in Petroleum Gas, making it the 58th largest exporter of Petroleum Gas in the world. At the same year, Petroleum Gas was the 166th most exported product in South Korea. The main destination of Petroleum Gas exports from South Korea are: China ($181M), Chinese Taipei ($48.2M), United States ($43.9M), Japan ($40.6M), and Spain ($31.4M).

The fastest growing export markets for Petroleum Gas of South Korea between 2021 and 2022 were Spain ($30.4M), United States ($22.2M), and United Kingdom ($9.21M).

Imports In 2022, South Korea imported $46.9B in Petroleum Gas, becoming the 7th largest importer of Petroleum Gas in the world. At the same year, Petroleum Gas was the 3rd most imported product in South Korea. South Korea imports Petroleum Gas primarily from: Australia ($13.3B), United States ($8.3B), Qatar ($7.39B), Malaysia ($4.07B), and Oman ($4.05B).

The fastest growing import markets in Petroleum Gas for South Korea between 2021 and 2022 were Australia ($8.21B), Malaysia ($2.49B), and Oman ($2.04B).

COMPANIES In 2023, leading companies such as ES Houseware (1) were at the forefront of shipping Petroleum Gas from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Petroleum Gas exports accounted up to $32.3M and imports accounted up to $3.3B, resulting in a negative trade balance of $3.27B. Between October 2023 and October 2024 the exports of South Korea's   Petroleum Gas have increased by $3.22M (11.1%) from $29.1M to $32.3M, while imports increased by $747M (29.2%) from $2.56B to $3.3B.

Destinations In October 2024, Petroleum Gas were exported mostly to Japan ($7.61M), Vietnam ($4.02M), China ($3.94M), United States ($3.51M), and Singapore ($3.17M), and were imported mostly from United States ($719M), Qatar ($692M), Australia ($671M), Malaysia ($380M), and Oman ($321M).

Growth In October 2024, the increase in Petroleum Gas's year-by-year exports was explained primarily by an increase in exports to Japan ($2.48M or 70.4%), Germany ($349k or 76.5%), and Saudi Arabia ($276k or 276%). In October 2024, the increase in Petroleum Gas's year-by-year imports was explained primarily by an increase in imports from Australia ($474M or 40.3%), Oman ($188M or 26.7%), and United Arab Emirates ($158M or 105%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$3.22M(11.1%)
IMPORT GROWTH (October 2023 - October 2024)$747M(29.2%)
MAIN DESTINATION (October 2024)Japan$7.61M

This section shows Petroleum Gas'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 Petroleum Gas over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$486M
IMPORTS (2022)$46.9B
NET TRADE (2022)-$46.4B

In 2022, South Korea exported $486M in Petroleum Gas. The main destinations of South Korea exports on Petroleum Gas were China ($181M), Chinese Taipei ($48.2M), United States ($43.9M), Japan ($40.6M), and Spain ($31.4M).

In 2022, South Korea imported $46.9B in Petroleum Gas, mainly from Australia ($13.3B), United States ($8.3B), Qatar ($7.39B), Malaysia ($4.07B), and Oman ($4.05B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Petroleum Gas EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Spain$30.4M (3.36k%)
United States$22.2M (102%)
United Kingdom$9.21M (85.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Petroleum Gas BY South Korea WERE (2021 - 2022):
China-$187M (-50.7%)
Chinese Taipei-$105M (-68.4%)
El Salvador-$10.3M (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Petroleum Gas were:
Norway $154B
United States $116B
Russia $71.5B
In 2022, South Korea's main importing competitors in Petroleum Gas were:
Germany $98B
China $72.7B
Italy $67.6B

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Trade Value of Petroleum Gas by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $150M
TOP IMPORT POTENTIALRussia+ $1.06B

Petroleum Gas’s highest export potential is China. With an export gap of $150M.   Petroleum Gas’s highest import potential is Russia with an import gap of $1.06B.

See methodology.

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