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

About

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.

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.

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

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $412M and imported $819M from Brazil, resulting in a negative trade balance of $406M. Between December 2023 and December 2024 the exports of South Korea have increased by $27M (7.01%) from $385M to $412M, while imports increased by $324M (65.4%) from $495M to $819M.

Trade In December 2024, the top exports of South Korea to Brazil were Electrical machinery and electronics ($149M), Machinery, mechanical appliances, & parts ($64.1M), Cars, tractors, trucks & parts thereof. ($57.6M), Plastics & articles thereof ($40.6M), and Pharmaceutical products ($22.2M). In December 2024 the top imports of South Korea from Brazil were Ores, slag and ash ($200M), Cereals ($113M), Food residues & wastes; animal fodder ($87.5M), Mineral fuels, mineral oils and products... ($79.4M), and Iron & steel ($64M).

Growth In December 2024, the increase in South Korea's year-by-year exports to Brazil was explained primarily by an increase in product exports in Electrical machinery and electronics ($69.9M or 88.6%), Machinery, mechanical appliances, & parts ($16.3M or 34.1%), and Plastics & articles thereof ($9.45M or 30.3%). In December 2024, the increase in South Korea's year-by-year imports  from Brazil was explained primarily by an increase in product imports  in Ores, slag and ash ($87.2M or 77.2%), Iron & steel ($37.3M or 139%), and Food residues & wastes; animal fodder ($35.7M or 69%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$27M(7.01%)
IMPORT GROWTH (December 2023 - December 2024)$324M(65.4%)

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

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

For full datasets download visit Bulk Download page.

Explore Brazil and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, 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 2018 to $5.05B in 2023.

In 2018, 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 2023 to $5.64B in 2018.

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

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

Market Competitiveness

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

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

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

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

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

Comparative Advantage South Korea - Brazil

Flow
Scale

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

During 2023, South Korea had a large net trade with Brazil in the exports of Machines ($2.25B), Transportation ($672M), and Chemical Products ($611M).

During 2018, 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).

Potential Exports

Potential Exports

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

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 South Korea and Brazil. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Brazil. Similarly, a dot/product with the flag of Brazil indicates it has a comparative advantage over South Korea.

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

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