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2023
Flag → Flag
Exports $5.64BRnk 12 / 221
2023
Flag → Flag
Top Product $1.07BCrude Petroleum
2023
Flag → Flag
Exports $5.05BRnk 25 / 142
2023
Flag → Flag
Top Product $1.09BIntegrated Circuits
2023
Flag
Economic Complexity (ECI) ECI 0.31Rnk 49 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag  
GDP$2.17TCURRENT US$
Rnk 9 / 195
2013-2023
Flag
GDP GROWTH-12.1%CURRENT US$
Rnk 184 / 195
2023
Flag
 GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
GDP PC $10,295CURRENT US$
Rnk 89 / 195
2013-2023
Flag
GDP PC GROWTH-17.4%CURRENT US$
Rnk 175 / 195
2023
Flag
GDP PC$33,121CURRENT US$
Rnk 41 / 196
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195

About

Brazil-South Korea Trade: In 2023, Brazil exported $5.64B to South Korea. The main products that Brazil exported to South Korea were Crude Petroleum ($1.07B), Corn ($866M), and Iron Ore ($707M). Over the past 5 years the exports of Brazil to South Korea have increased at an annualized rate of 8.31%, from $3.78B in 2018 to $5.64B in 2023.

In 2023, Brazil did not export any services to South Korea.

South Korea-Brazil Trade: In 2023, South Korea exported $5.05B to Brazil. The main products that South Korea exported to Brazil were Integrated Circuits ($1.09B), Motor vehicles; parts and accessories (8701 to 8705) ($490M), and Spark-Ignition Engines ($205M). Over the past 5 years the exports of South Korea to Brazil have decreased at an annualized rate of 2.18%,  from $5.64B in 2018 to $5.05B in 2023.

In 2005, South Korea exported services to Brazil worth $184M, with Transportation ($158M), Other business services ($11.9M), and Travel ($11.2M) being the largest in terms of value.

Comparison: In 2023,  Brazil ranked 49 in the Economic Complexity Index (ECI 0.31), and 22 in total exports ($355B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Latest Trends

December, 2024

About

Overview In December 2024, Brazil exported $411M and imported $377M from South Korea, resulting in a positive trade balance of $33.9M. Between December 2023 and December 2024 the exports of Brazil have decreased by $-181M (-30.6%) from $592M to $411M, while imports decreased by $-17.6M (-4.46%) from $394M to $377M.

Trade In December 2024, the top exports of Brazil to South Korea were Corn ($72.5M), Alcohol > 80% ABV ($56.8M), Iron Ore ($38.8M), Soybean Meal ($33.2M), and Semi-Finished Iron ($26M). In December 2024 the top imports of Brazil from South Korea were Integrated Circuits ($116M), Motor vehicles; parts and accessories (8701... ($36.8M), Spark-Ignition Engines ($11.8M), Styrene Polymers ($9.24M), and Coated Flat-Rolled Iron ($7.04M).

Origins In December 2024 the exports of Brazil were mainly from Rio de Janeiro ($139M), Minas Gerais ($62.6M), Paraná ($31.8M), Rio Grande do Sul ($31.2M), and Espírito Santo ($29.3M), while imports destinations were mainly São Paulo ($192M), Amazonas ($66.6M), Santa Catarina ($43.5M), Paraná ($13.9M), and Rio Grande do Sul ($11.9M).

Growth In December 2024, the decrease in Brazil's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Corn ($-108M or -59.9%), Poultry Meat ($-14M or -37.3%), and Iron Ore ($-11.3M or -22.6%). In December 2024, the decrease in Brazil's year-by-year imports  from South Korea was explained primarily by an decrease in product imports  in Integrated Circuits ($-8.28M or -6.66%), Refined Petroleum ($-6.93M or -69.9%), and Motor vehicles; parts and accessories (8701... ($-6.46M or -14.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-181M(-30.6%)
IMPORT GROWTH (December 2023 - December 2024)$-17.6M(-4.46%)
MAIN EXPORTER (December 2024)Rio de Janeiro$139M

This section shows exports and imports data at subnational level for Brazil. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Brazil over time.

To check South Korea and Brazil trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore South Korea and Brazil Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Brazil exported $5.64B to South Korea. The main products exported from Brazil to South Korea were Crude Petroleum ($1.07B), Corn ($866M), and Iron Ore ($707M). During the last 5 years the exports of Brazil to South Korea have increased at an annualized rate of 8.31%, from $3.78B in 2018 to $5.64B in 2023.

In 2018, South Korea exported $5.05B to Brazil. The main products exported from South Korea to Brazil were Integrated Circuits ($1.09B), Motor vehicles; parts and accessories (8701 to 8705) ($490M), and Spark-Ignition Engines ($205M). During the last 5 years the exports of South Korea to Brazil have decreased at an annualized rate of 2.18%, from $5.64B in 2023 to $5.05B in 2018.

Exports from Brazil (Flag) to South Korea (Flag) (2023)

Exports from South Korea (Flag) to Brazil (Flag) (2023)

Market Competitiveness

Color
Brazil
Top DestinationChina$106B
South Korea
Top DestinationChina$162B

This map shows whether countries import more from Brazil or South Korea. Each country is colored based on the difference in imports they receive from Brazil and South Korea or the difference in the growth in imports.

In 2023, countries that imported more from Brazil than South Korea included Argentina ($17.2B), Chile ($8.68B), and Netherlands ($11.4B).

In 2023, countries that imported more from South Korea than Brazil included United States ($118B), China ($162B), and Hong Kong ($28.8B).

Difference in imports from South Korea (Flag) and Brazil (Flag) (2023)

Comparative Advantage Brazil - South Korea

Flow
Scale

This chart compares trade between Brazil and South Korea by product, considering products traded by both, Brazil and South Korea.

During 2023, Brazil had a large net trade with South Korea in the exports of Mineral Products ($1.82B), Vegetable Products ($1.39B), and Foodstuffs ($1.27B).

During 2018, South Korea had a large net trade with Brazil in the exports of Machines ($2.25B), Transportation ($672M), and Chemical Products ($611M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Brazil South Korea+$715MCrude Petroleum
Top Product Potential South Korea Brazil+$144MIntegrated Circuits

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Brazil and South Korea. This means that a dot/product with the flag of Brazil indicates it has a comparative advantage over South Korea. Similarly, a dot/product with the flag of South Korea indicates it has a comparative advantage over Brazil.

Product Space of Brazil (Flag) and South Korea (Flag) (2023)

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