South Korea base oil exports rose 23% in volume and by 25% in declared value in October, according to data released this week by a government agency.
The volume of the country’s base oil exports was 405,342 metric tons in October, compared to 329,002 tons in the same month last year. It was the second-highest amount for a month this year and was the highest such volume since 445,926 tons in February.
The declared value of the base oil exports from the country reached $471.6 million in October, compared to $378.5 million. That was also the second-highest value for this year, behind only $475.7 million in February.
Base oil imports into South Korea surged 100% to 28,991 tons in October. That was the second-most for a month this year, behind 34,000 tons in June.
The value of the imported base oil jumped 66% to $32.8 million, compared to $19.8 million. That was the second-highest import value for a month this year, behind $40.3 million in June.