Republic of Korea: Petroleum Market 2020

Petroleum Market Size in Republic of Korea

The revenue of the petroleum market in South Korea amounted to $X in 2017, growing by X% against the previous year. Overall, petroleum consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011, with an increase of X% y-o-y. Over the period under review, the petroleum market attained its maximum level of $X in 2012; however, from 2013 to 2017, it failed to regain its momentum.

Petroleum Production in Republic of Korea

In 2017, approx. X tons of petroleum were produced in South Korea; going up by X% against the previous year. The total output volume increased an average annual rate of +X% over the period from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017, when the output figure increased by X% year-to-year. In that year, the petroleum production attained their peak volume, and is likely to continue its growth in the immediate term.

Petroleum Exports from Republic of Korea

In 2017, approx. X tons of petroleum were exported from South Korea; growing by X% against the previous year. Overall, the total exports indicated a remarkable expansion from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the petroleum exports increased by +X% against 2012 indices. The most prominent rate of growth was recorded in 2011, when it surged by X% y-o-y. South Korea exports peaked in 2017, and are likely to continue its growth in the near future.

In value terms, petroleum exports stood at $X in 2017. In general, petroleum exports continue to indicate a pronounced expansion. South Korea exports peaked of $X in 2012; however, from 2013 to 2017, it failed to regain its momentum.

Petroleum Exports by Country from Republic of Korea

In 2017, the U.S. (X tons), followed by Russia (X tons), Singapore (X tons), the Netherlands (X tons), South Korea (X tons) and India (X tons) were the major exporters of petroleum, together constituting X% of total exports. China (X tons), Belgium (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Canada (X tons) and Malaysia (X tons) took the minor share of total exports.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the U.S. (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Russia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2017, with a combined X% share of total exports.

In terms of the main exporting countries , the U.S. (+X% per year) experienced the highest rates of growth with regard to exports, over the last decade, while the other leaders experienced more modest paces of growth.

Petroleum Export Prices by Country in Republic of Korea

In 2017, the petroleum export price in South Korea amounted to $X per ton, surging by X% against the previous year. Overall, petroleum export price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2008, when it surged by X% against the previous year. South Korea export price peaked of $X per ton in 2012; however, from 2013 to 2017, it stood at a somewhat lower level.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was the United Arab Emirates ($X per ton), while the U.S. ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by the United Arab Emirates (+X% per year), while the other leaders experienced more modest paces of growth.

Petroleum Imports into Republic of Korea

Petroleum imports into South Korea totaled X tons in 2017, falling by -X% against the previous year. Overall, petroleum imports continue to indicate a measured shrinkage. The most prominent rate of growth was recorded in 2009, with an increase of X% year-to-year. South Korea imports peaked of X tons in 2014; however, from 2015 to 2017, it failed to regain its momentum.

In value terms, petroleum imports amounted to $X in 2017. Overall, petroleum imports continue to indicate a moderate growth. Over the period under review, the petroleum imports reached its peak figure level of $X in 2014; however, from 2015 to 2017, it stood at a somewhat lower level.

Petroleum Imports by Country into Republic of Korea

In 2017, the U.S. (X tons) and Singapore (X tons) represented the largest importers of petroleum in the globe, together comprising X% of total imports. It was followed by the Netherlands (X tons), making up X% share of total imports. Mexico (X tons), Belgium (X tons), Germany (X tons), Malaysia (X tons), France (X tons), China (X tons), the UK (X tons), Indonesia (X tons) and Canada (X tons) held the minor share of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Malaysia (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum markets worldwide were the U.S. ($X), Singapore ($X) and the Netherlands ($X), with a combined X% share of total imports. Mexico, Germany, Belgium, France, the UK, Malaysia, Indonesia, South Korea, China and Canada lagged somewhat behind, together accounting for a further X%.

Malaysia (+X% per year) experienced the highest growth rate of imports, in terms of the main importing countries over the last decade, while the other leaders experienced more modest paces of growth.

Petroleum Import Prices by Country in Republic of Korea

In 2017, the petroleum import price in South Korea amounted to $X per ton, growing by X% against the previous year. In general, petroleum import price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017, when the import prices increased by X% year-to-year. In that year, the import prices for petroleum attained their peak level, and is likely to continue its growth in the immediate term.

Average import prices varied somewhat amongst the major importing countries. In 2017, major importing countries recorded the following import prices: in the UK ($X per ton) and Germany ($X per ton), while China ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Singapore (+X% per year), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform