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2022
Flag → Flag
Exports $1.81BRnk 42 / 220
2022
Flag → Flag
Top Product $478MCars
2022
Flag → Flag
Exports $6.13BRnk 4 / 185
2022
Flag → Flag
Top Product $1.9BRefined Copper
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -0.18Rnk 74 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$301BCURRENT US$
Rnk 45 / 186
2012-2022
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GDP GROWTH12.7%CURRENT US$
Rnk 142 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$15,356CURRENT US$
Rnk 62 / 186
2012-2022
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GDP PC GROWTH-0.33%CURRENT US$
Rnk 144 / 186

About

South Korea-Chile Trade: 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). Over the past 5 years the exports of South Korea to Chile have increased at an annualized rate of 0.5%, from $1.77B in 2017 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.

Chile-South Korea Trade: In 2022, Chile exported $6.13B to South Korea. The main products that Chile exported to South Korea were Refined Copper ($1.9B), Carbonates ($992M), and Copper Ore ($935M). Over the past 5 years the exports of Chile to South Korea have increased at an annualized rate of 7.64%,  from $4.24B in 2017 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.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Chile ranked 74 in the Economic Complexity Index (ECI -0.18), and 44 in total exports ($99B).

Latest Trends

September, 2024

About

Overview In September 2024, South Korea exported $163M and imported $488M from Chile, resulting in a negative trade balance of $325M. Between September 2023 and September 2024 the exports of South Korea have increased by $50.8M (45.2%) from $113M to $163M, while imports decreased by $-93M (-16%) from $581M to $488M.

Trade In September 2024, the top exports of South Korea to Chile were Mineral fuels, mineral oils and products... ($37.9M), Cars, tractors, trucks & parts thereof. ($30.3M), Machinery, mechanical appliances, & parts ($11.7M), Plastics & articles thereof ($7.83M), and Iron & steel ($5.89M). In September 2024 the top imports of South Korea from Chile were Inorganic chemicals ($259M), Copper articles ($166M), Ores, slag and ash ($91.9M), Edible fruits, nuts & fruit peels ($37.8M), and Wood pulp & paper scrap ($16.2M).

Growth In September 2024, the increase in South Korea's year-by-year exports to Chile was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... ($37M or 4.47k%), Iron & steel ($3.69M or 169%), and Salt, sulphur, cement, lime, stone, &... ($1.78M or 85.3%). In September 2024, the decrease in South Korea's year-by-year imports  from Chile was explained primarily by an decrease in product imports  in Ores, slag and ash ($-139M or -60.3%), Copper articles ($-96.5M or -36.8%), and Beverages, spirits, & vinegar ($-1.7M or -28.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)$50.8M(45.2%)
IMPORT GROWTH (September 2023 - September 2024)$-93M(-16%)

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

For full datasets download visit Bulk Download page.

Explore Chile and South Korea Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

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 5 years the exports of South Korea to Chile have increased at an annualized rate of 0.5%, from $1.77B in 2017 to $1.81B in 2022.

In 2017, 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 5 years the exports of Chile to South Korea have increased at an annualized rate of 7.64%, from $4.24B in 2022 to $6.13B in 2017.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Chile
Top DestinationChina$38.5B

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

In 2022, countries that imported more from South Korea than Chile included China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2022, countries that imported more from Chile than South Korea included Bolivia ($1.21B), Peru ($1.84B), and Paraguay ($509M).

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

Comparative Advantage South Korea - Chile

Flow
Scale

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

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

During 2017, 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).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Chile+$99.1MRefined Petroleum
Top Product Potential Chile South Korea+$10.7MNon-fillet Frozen Fish

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

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

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