South Korea Base Oil Exports Rose in April


South Korea Base Oil Exports Rose in April

South Korea exported 13% more base oil at a 10% higher declared value in April, compared to the same month last year, posting the second highest numbers since last September, the Korea Customs Agency reported.

South Korea exported 391,058 metric tons of base oil in April, compared to 344,927 tons. That was the second highest total since last September, trailing only 445,926 tons in February.

Year-to-date through April, base oil export volume was up 10% at 1.6 million tons.

The declared value of the base oil exports reached $447.3 million in April, up from $385,279. As with volume, that was the second highest base oil exports value since September, behind only $475.4 million in February.

Through the first four months of this year, declared base oil export value rose 13% to $1.7 billion.

Base oil imports fell 60% in April to 18,697 tons. From January through April, base oil imports also dropped, by 44% to 79,391 tons.

The declared value of base oil imports declined 62% to $21.8 million. Year-to-date through April, the base oil imports value dropped 40% to $92.4 million.

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