South Korea exported 20% less base oil at 23% less reported value in February than in the same month last year, according to data released by a government agency today.
The country exported 357,584 metric tons of base oil in February, compared to 445,926 tons in February of 2023, the Korea Customs Service reported. The new number would have been middle of the pack last year.
The reported value of the exported base oil fell from $476.7 million to $367.3 million, year to year.
Although South Korea isn’t a major base oil importer, its volumes and reported value of such imports were way up in February. The country imported 25,918 tons of base oil in the month, a 52% jump from 17,085 tons. The value of the imported base oil rose 33% to $29.5 million, compared to $22.2 million.
The country exported 357,584 metric tons of base oil in February, compared to 445,926 tons in February of 2023, the Korea Customs Service reported. The new number would have been middle of the pack last year.
The reported value of the exported base oil fell from $476.7 million to $367.3 million, year to year.
Although South Korea isn’t a major base oil importer, its volumes and reported value of such imports were way up in February. The country imported 25,918 tons of base oil in the month, a 52% jump from 17,085 tons. The value of the imported base oil rose 33% to $29.5 million, compared to $22.2 million.