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Who buys South Korea’s refined petroleum products? Export destinations 2024

In 2024, South Korea exported $50.7 billion of refined petroleum products (69.5 million tonnes), 5.9% of the world total. Its main destinations were Australia (19%), Japan (12%) and the United States (9%). South Korea was the world’s 3rd-largest exporter of refined petroleum products.

Summary

Value
$50.7billion
Tonnes
69.5million tonnes
Share of world total
5.9%
World rank
3rd
Routes to the main destinations. Width: value; color: estimated transport mode.SeaAirLand

Destinations

The 20 main destinations in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Australia9.4Tonnes: 13,786,675USD per tonne: $68118.5%Sea
Japan6Tonnes: 8,191,938USD per tonne: $73511.9%Sea
United States4.8Tonnes: 6,291,723USD per tonne: $7599.4%Sea
Singapore re-exports4.7Tonnes: 7,129,351USD per tonne: $6549.2%Sea
Philippines3.5Tonnes: 4,952,096USD per tonne: $7006.8%Sea
New Zealand3.2Tonnes: 4,644,631USD per tonne: $6986.4%Sea
Malaysia2.9Tonnes: 3,549,304USD per tonne: $8295.8%Sea
China2.8Tonnes: 3,645,247USD per tonne: $7785.6%Sea
Vietnam2.7Tonnes: 3,744,184USD per tonne: $7235.3%Sea
Taiwan1.4Tonnes: 2,337,375USD per tonne: $6052.8%Sea
Hong Kong re-exports1.3Tonnes: 2,158,773USD per tonne: $6112.6%Sea
India1Tonnes: 1,158,128USD per tonne: $9012.1%Sea
Indonesia0.66Tonnes: 903,171USD per tonne: $7261.3%Sea
Angola0.53Tonnes: 812,986USD per tonne: $6461%Sea
France0.51Tonnes: 481,218USD per tonne: $1,0611%Sea
Chile0.5Tonnes: 573,706USD per tonne: $8670.98%Sea
Bangladesh0.41Tonnes: 552,273USD per tonne: $7460.81%Sea
United Kingdom0.39Tonnes: 356,173USD per tonne: $1,0980.77%Sea
Ecuador0.39Tonnes: 417,141USD per tonne: $9370.77%Sea
Oman0.31Tonnes: 414,908USD per tonne: $7470.61%Sea

Trend

Who it sells to

Australia has been its main destination since 2022

Value in USD billions. The five largest destinations in 2024.

  • Australia 9.4
  • Japan 6
  • United States 4.8
  • Singapore 4.7
  • Philippines 3.5

Source: CEPII BACI

Show the numbers
Partner19952024
Australia< 0.019.4
Japan0.776
United States0.144.8
Singapore0.064.7
Philippines0.043.5

Sources and methodology

Other products of this country

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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