South Korea / Papua New Guinea

Overview In February 2024, South Korea exported $2.63M and imported $12.9M from Papua New Guinea, resulting in a negative trade balance of $10.3M. Between February 2023 and February 2024 the exports of South Korea have decreased by $-1.6M (-37.8%) from $4.23M to $2.63M, while imports decreased by $-154M (-92.2%) from $167M to $12.9M.

Trade In February 2024, the top exports of South Korea to Papua New Guinea were Mineral fuels, mineral oils and products... ($45.1M), Inorganic chemicals ($2.01M), Cars, tractors, trucks & parts thereof. ($676k), Iron or steel articles ($427k), and Machinery, mechanical appliances, & parts ($421k). In February 2024 the top imports of South Korea from Papua New Guinea were Mineral fuels, mineral oils and products... ($266M), Ores, slag and ash ($10.2M), Wood, wood articles, & charcoal ($1.68M), Coffee, tea, mate & spices ($519k), and Aluminum articles ($463k).

Growth In February 2024, the decrease in South Korea's year-by-year exports to Papua New Guinea was explained primarily by an decrease in product exports in Miscellaneous metal products ($-405k or -59.6%), Plastics & articles thereof ($-173k or -79%), and Iron or steel articles ($-135k or -24%). In February 2024, the decrease in South Korea's year-by-year imports  from Papua New Guinea was explained primarily by an decrease in product imports  in Aluminum articles ($-1.44M or -75.6%), Iron & steel ($-86k or -100%), and Copper articles ($-27k or -14.7%).