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2023
Flag → Flag
Exports $1.49BRnk 39 / 142
2023
Flag → Flag
Top Product $372MCars
2023
Flag → Flag
Exports $6.02BRnk 4 / 183
2023
Flag → Flag
Top Product $1.25BRefined Copper
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.2Rnk 72 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$336BCURRENT US$
Rnk 46 / 195
2013-2023
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GDP GROWTH21%CURRENT US$
Rnk 139 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
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GDP PC$17,068CURRENT US$
Rnk 68 / 196
2013-2023
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GDP PC GROWTH8.83%CURRENT US$
Rnk 137 / 195

About

South Korea-Chile Trade: In 2023, South Korea exported $1.49B to Chile. The main products that South Korea exported to Chile were Cars ($372M), Refined Petroleum ($151M), and Delivery Trucks ($118M). Over the past 5 years the exports of South Korea to Chile have decreased at an annualized rate of 4.15%, from $1.84B in 2018 to $1.49B in 2023.

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 2023, Chile exported $6.02B to South Korea. The main products that Chile exported to South Korea were Refined Copper ($1.25B), Copper Ore ($1.13B), and Carbonates ($1.09B). Over the past 5 years the exports of Chile to South Korea have increased at an annualized rate of 7.03%,  from $4.29B in 2018 to $6.02B in 2023.

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

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Chile ranked 72 in the Economic Complexity Index (ECI -0.2), and 43 in total exports ($98.9B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $103M and imported $361M from Chile, resulting in a negative trade balance of $258M. Between December 2023 and December 2024 the exports of South Korea have decreased by $-34.3M (-25%) from $137M to $103M, while imports decreased by $-61.4M (-14.5%) from $422M to $361M.

Trade In December 2024, the top exports of South Korea to Chile were Mineral fuels, mineral oils and products... ($92.1M), Cars, tractors, trucks & parts thereof. ($25.4M), Plastics & articles thereof ($7.64M), Iron & steel ($6.72M), and Electrical machinery and electronics ($6.17M). In December 2024 the top imports of South Korea from Chile were Copper articles ($92.1M), Inorganic chemicals ($60.2M), Edible fruits, nuts & fruit peels ($31.9M), Ores, slag and ash ($28M), and Wood pulp & paper scrap ($18.9M).

Growth In December 2024, the decrease in South Korea's year-by-year exports to Chile was explained primarily by an decrease in product exports in Machinery, mechanical appliances, & parts ($-5.62M or -47.9%), Cars, tractors, trucks & parts thereof. ($-4.85M or -16%), and Salt, sulphur, cement, lime, stone, &... ($-2.54M or -65.7%). In December 2024, the decrease in South Korea's year-by-year imports  from Chile was explained primarily by an decrease in product imports  in Inorganic chemicals ($-199M or -76.8%), Copper articles ($-73.9M or -44.5%), and Ores, slag and ash ($-63.9M or -69.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-34.3M(-25%)
IMPORT GROWTH (December 2023 - December 2024)$-61.4M(-14.5%)

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

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $1.49B to Chile. The main products exported from South Korea to Chile were Cars ($372M), Refined Petroleum ($151M), and Delivery Trucks ($118M). During the last 5 years the exports of South Korea to Chile have decreased at an annualized rate of 4.15%, from $1.84B in 2018 to $1.49B in 2023.

In 2018, Chile exported $6.02B to South Korea. The main products exported from Chile to South Korea were Refined Copper ($1.25B), Copper Ore ($1.13B), and Carbonates ($1.09B). During the last 5 years the exports of Chile to South Korea have increased at an annualized rate of 7.03%, from $4.29B in 2023 to $6.02B in 2018.

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

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

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Chile
Top DestinationChina$38.2B

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

In 2023, countries that imported more from Chile than South Korea included Bolivia ($1.36B), Peru ($1.45B), and Russia ($461M).

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

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 2023, South Korea had a large net trade with Chile in the exports of Transportation ($604M), Machines ($227M), and Mineral Products ($177M).

During 2018, Chile had a large net trade with South Korea in the exports of Chemical Products ($1.98B), Mineral Products ($1.67B), and Metals ($1.59B).

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) (2023)

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