HS Icon Crude Petroleum in  Flag South Korea

2019
Exports | Imports
: $431M | $67.4B, World Rnk 54 / 135
Flag Rnk 163 / 1200 | World Rnk 4 / 156
Flag Rnk 1 / 1209

2018 - 2019
FASTEST GROWING MARKET | FASTEST GROWING ORIGIN
: $153M | $3.69B, Philippines |  United States

2019
ECONOMIC COMPLEXITY of South Korea
: 1.9, Rnk 5 / 147

2019
PRODUCT COMPLEXITY  IN Crude Petroleum
: -3.02, Rnk 1029 / 1029

Exports In 2019, South Korea exported $431M in Crude Petroleum, making it the 54th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 163rd most exported product in South Korea. The main destination of Crude Petroleum exports from South Korea are: Philippines ($409M), Singapore ($21.8M), Guatemala ($98k), New Zealand ($4.44k), and Vietnam ($2.88k).

The fastest growing export markets for Crude Petroleum of South Korea between 2018 and 2019 were Philippines ($153M), Singapore ($21.8M), and Vietnam ($2.88k).

Imports In 2019, South Korea imported $67.4B in Crude Petroleum, becoming the 4th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most imported product in South Korea. South Korea imports Crude Petroleum primarily from: Saudi Arabia ($17.5B), United States ($8.81B), Kuwait ($8.8B), Russia ($7.38B), and Iraq ($6.68B).

The fastest growing import markets in Crude Petroleum for South Korea between 2018 and 2019 were United States ($3.69B), United Arab Emirates ($743M), and Mexico ($719M).

Tariffs In 2018, the average tariff for South Korea in Crude Petroleum was 2.38%. The countries with the highest import tariffs for Crude Petroleum were Angola (Most Favoured Nation duty rate treatement, 3%), Burundi (Most Favoured Nation duty rate treatement, 3%), Benin (Most Favoured Nation duty rate treatement, 3%), Burkina Faso (Most Favoured Nation duty rate treatement, 3%), and Botswana (Most Favoured Nation duty rate treatement, 3%).

June 2021

Subnational Monthly Trade

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Time Scale
Flow
Value

IMPORT GROWTH (June 2020 - June 2021): $3.4B, (160%)

MAIN DESTINATION (June 2021): Republic of the Congo, $0

This section shows Crude Petroleum'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 Crude Petroleum over time.

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Historical Data

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EXPORTS (2019): $431M

IMPORTS (2019): $67.4B

NET TRADE (2019): -$67B

In 2019, South Korea exported $431M in Crude Petroleum. The main destinations of South Korea exports on Crude Petroleum were Philippines ($409M), Singapore ($21.8M), Guatemala ($98k), New Zealand ($4.44k), and Vietnam ($2.88k).

In 2019, South Korea imported $67.4B in Crude Petroleum, mainly from Saudi Arabia ($17.5B), United States ($8.81B), Kuwait ($8.8B), Russia ($7.38B), and Iraq ($6.68B).

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IN 2019, South Korea HAD A POSITIVE NET TRADE IN Crude Petroleum WITH:

IN 2019, South Korea HAD A NEGATIVE NET TRADE IN Crude Petroleum WITH:

Flow

THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR South Korea WERE (2018 - 2019):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY South Korea WERE (2018 - 2019):

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Market Concentration

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Type

In 2019, South Korea's main exporting competitors in Crude Petroleum were:

In 2019, South Korea's main importing competitors in Crude Petroleum were:

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Tariffs by Country

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In 2018, the average tariff for South Korea in Crude Petroleum was 2.38%.

The countries with the highest tariffs for Crude Petroleum in South Korea were Angola (Most Favoured Nation duty rate treatement, 3%), Burundi (Most Favoured Nation duty rate treatement, 3%), Benin (Most Favoured Nation duty rate treatement, 3%), Burkina Faso (Most Favoured Nation duty rate treatement, 3%), and Botswana (Most Favoured Nation duty rate treatement, 3%).