Petroleum Gas in South Korea | The Observatory of Economic Complexity

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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 were at the forefront of shipping Petroleum Gas from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Petroleum Gas exports accounted up to $25.4M and imports accounted up to $3.14B, resulting in a negative trade balance of $3.11B. Between February 2023 and February 2024 the exports of South Korea's Petroleum Gas have decreased by $-687k (-2.64%) from $26.1M to $25.4M, while imports decreased by $-2.97B (-48.6%) from $6.11B to $3.14B.

Destinations In February 2024, Petroleum Gas were exported mostly to China ($8.13M), Japan ($5.52M), Chinese Taipei ($2.21M), United States ($2.17M), and Singapore ($2.07M), and were imported mostly from Qatar ($700M), Australia ($696M), United States ($551M), Oman ($367M), and Malaysia ($272M).

Growth In February 2024, the decrease in Petroleum Gas's year-by-year exports was explained primarily by a decrease in exports to China ($-8.47M or -55.9%), Chinese Taipei ($-4.11M or -80.8%), and United States ($-1.39M or -45.4%). In February 2024, the decrease in Petroleum Gas's year-by-year imports was explained primarily by a decrease in imports from United States ($-319M or -20.5%), Russia ($-290M or -75.3%), and Malaysia ($-204M or -25.6%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-687k(-2.64%)

IMPORT GROWTH (February 2023 - February 2024)$-2.97B(-48.6%)

MAIN DESTINATION (February 2024)China$8.13M

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

Trade Value

Growth

Growth (%)

Year

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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