Refined Petroleum in South Korea

2019
Exports | Imports
: $38.9B | $18.4B, World Rnk 6 / 214
Flag Rnk 3 / 1200 | World Rnk 10 / 225
Flag Rnk 4 / 1209

2019
Destination | Origin
: $6.5B | $2.44B, China | Chinese Taipei

2018 - 2019
FASTEST GROWING MARKET |  FASTEST GROWING ORIGIN
: $831M | $858M, United States |  Chinese Taipei

2019
ECONOMIC COMPLEXITY of South Korea
: 1.98, Rnk 5 / 157

2019
PRODUCT COMPLEXITY  IN Refined Petroleum
: -0.87, Rnk 800 / 1029

Exports: In 2019, South Korea exported $38.9B in Refined Petroleum, making it the 6th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 3rd most exported product in South Korea. The main destination of Refined Petroleum exports from South Korea are: China ($6.5B), United States ($4.24B), Japan ($3.95B), Singapore ($3.65B), and Australia ($3.05B).

The fastest growing export markets for Refined Petroleum of South Korea between 2018 and 2019 were United States ($831M), Malta ($296M), and United Kingdom ($257M).

Imports: In 2019, South Korea imported $18.4B in Refined Petroleum, becoming the 10th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most imported product in South Korea. South Korea imports Refined Petroleum primarily from: Chinese Taipei ($2.44B), United Arab Emirates ($2.35B), Russia ($2.32B), Qatar ($1.33B), and Japan ($1.3B).

The fastest growing import markets in Refined Petroleum for South Korea between 2018 and 2019 were Chinese Taipei ($858M), Algeria ($426M), and Iraq ($360M).

Tariffs: In 2018, the average tariff for South Korea in Refined Petroleum was 4.69%. The countries with the highest import tariffs for Refined Petroleum were Angola (5.72%), Burundi (5.72%), Benin (5.72%), Burkina Faso (5.72%), and Botswana (5.72%).

Value

EXPORTS (2019): $38.9B

IMPORTS (2019): $18.4B

NET TRADE (2019): $20.5B

In 2019, South Korea exported $38.9B in Refined Petroleum. The main destinations of South Korea exports on Refined Petroleum were China ($6.5B), United States ($4.24B), Japan ($3.95B), Singapore ($3.65B), and Australia ($3.05B).

In 2019, South Korea imported $18.4B in Refined Petroleum, mainly from Chinese Taipei ($2.44B), United Arab Emirates ($2.35B), Russia ($2.32B), Qatar ($1.33B), and Japan ($1.3B).

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

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

Flow

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

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

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Market Concentration

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Type

In 2018, South Korea's main exporting competitors in Refined Petroleum were:

In 2018, South Korea's main importing competitors in Refined Petroleum were:

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Tariffs by Country

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In 2018, the average tariff for South Korea in Refined Petroleum was 4.69%.

The countries with the highest tariffs for Refined Petroleum in South Korea were Angola (5.72%), Burundi (5.72%), Benin (5.72%), Burkina Faso (5.72%), and Botswana (5.72%).

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