Chile (CHL) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Chile (CHL) and South Korea (KOR) Trade

2022

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Exports $6.13BRnk 4 / 185

2022

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About

Chile-South Korea In 2022, Chile exported $6.13B to South Korea. The main products that Chile exported to South Korea are Refined Copper ($1.9B), Carbonates ($992M), and Copper Ore ($935M). During the last 27 years the exports of Chile to South Korea have increased at an annualized rate of 7.32%, from $911M in 1995 to $6.13B in 2022.

In 2009, Chile exported services to South Korea worth $60.3M, with Transportation ($60.3M) being the largest in terms of value.

South Korea-Chile In 2022, South Korea exported $1.81B to Chile. The main products that South Korea exported to Chile were Cars ($478M), Delivery Trucks ($179M), and Sulfuric Acid ($117M). During the last 27 years the exports of South Korea to Chile have increased at an annualized rate of 4.07%, from $616M in 1995 to $1.81B in 2022.

In 2005, South Korea exported services to Chile worth $82.3M, with Transportation ($72.4M), Other business services ($5.9M), and Travel ($2.4M) being the largest in terms of value.

Comparison In 2022, Chile ranked 71 in the Economic Complexity Index (ECI -0.22), and 44 in total exports ($99B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B).

Latest Trends

January, 2024

About

Overview In January 2024, Chile exported $559M and imported $67M from South Korea, resulting in a positive trade balance of $492M. Between January 2023 and January 2024 the exports of Chile have decreased by $-43.6M (-7.24%) from $602M to $559M, while imports increased by $3.2M (5.02%) from $63.8M to $67M.

Trade In January 2024, the top exports of Chile to South Korea were Refined Copper ($206M), Carbonates ($86.5M), Copper Ore ($77.3M), Raw Copper ($57M), and Inorganic Salts ($39.9M). In January 2024 the top imports of Chile from South Korea were Telephones ($37.7M), Computers ($7.27M), Medical Instruments ($2.79M), Orthopedic Appliances ($1.55M), and Microphones and Headphones ($1.13M).

Origins In January 2024 the exports of Chile were mainly from Las Condes ($324M), Santiago ($107M), Antofagasta ($28M), La Serena ($16.9M), and Rancagua ($15.1M), while imports destinations were mainly Las Condes ($50M), Renca ($4.58M), Recoleta ($2.97M), Vitacura ($2.24M), and Santiago ($1.69M).

Growth In January 2024, the decrease in Chile's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Molybdenum Ore ($-13.9M or -28.2%), Sawn Wood ($-6.51M or -57.9%), and Pig Meat ($-5.71M or -32.5%). In January 2024, the increase in Chile's year-by-year imports from South Korea was explained primarily by an increase in product imports in Computers ($3.65M or 101%), Medical Instruments ($1.46M or 110%), and Other Plastic Products ($696k or 169%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)$-43.6M(-7.24%)

IMPORT GROWTH (January 2023 - January 2024)$3.2M(5.02%)

MAIN EXPORTER (January 2024)Las Condes$324M

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Chile exported $6.13B to South Korea. The main products exported from Chile to South Korea were Refined Copper ($1.9B), Carbonates ($992M), and Copper Ore ($935M). During the last 27 years the exports of Chile to South Korea have increased at an annualized rate of 7.32%, from $911M in 1995 to $6.13B in 2022.

In 2022, South Korea exported $1.81B to Chile. The main products exported from South Korea to Chile were Cars ($478M), Delivery Trucks ($179M), and Sulfuric Acid ($117M). During the last 27 years the exports of South Korea to Chile have increased at an annualized rate of 4.07%, from $616M in 1995 to $1.81B in 2022.

Exports from Chile () to South Korea () (2022)

Exports from South Korea () to Chile () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Chile
Top DestinationChina$38.5B

South Korea
Top DestinationChina$150B

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

In 2021, countries that imported more from Chile than South Korea were Bolivia ($1.21B), Peru ($1.84B), and Paraguay ($509M).

In 2021, countries that imported more from South Korea than Chile were China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea () and Chile () (2022)

Comparative Advantage Chile - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Chile had a large net trade with South Korea in the exports of Metals ($2.35B), Mineral Products ($1.49B), and Chemical Products ($1.41B).

During 2022, South Korea had a large net trade with Chile in the exports of Transportation ($765M), Machines ($240M), and Plastics and Rubbers ($200M).

Service Trade

Bilateral Service Trade

Chl Year

2009

2008

In 2009, Chile exported services to South Korea worth $60.3M, with Transportation ($60.3M) being the largest in terms of value.

In 2005, South Korea exported services to Chile worth $82.3M, with Transportation ($72.4M), Other business services ($5.9M), and Travel ($2.4M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Chile () to South Korea () (2009)

Services Exports from South Korea () to Chile () (2005)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Chile has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Chile.

Product Space of Chile () and South Korea () (2022)

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