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Pricing

2022
Flag → Flag
Exports $6.43BRnk 12 / 223
2022
Flag → Flag
Top Product $1.75BCrude Petroleum
2022
Flag → Flag
Exports $5.28BRnk 24 / 220
2022
Flag → Flag
Top Product $1.1BIntegrated Circuits
2022
Flag
Economic Complexity (ECI) ECI 0.36Rnk 49 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag  
GDP$1.92TCURRENT US$
Rnk 11 / 186
2012-2022
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GDP GROWTH-22.1%CURRENT US$
Rnk 180 / 186
2022
Flag
 GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC $8,918CURRENT US$
Rnk 82 / 186
2012-2022
Flag
GDP PC GROWTH-27.7%CURRENT US$
Rnk 177 / 186
2022
Flag
GDP PC$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

Brazil-South Korea Trade: In 2022, Brazil exported $6.43B to South Korea. The main products that Brazil exported to South Korea were Crude Petroleum ($1.75B), Iron Ore ($867M), and Corn ($647M). Over the past 5 years the exports of Brazil to South Korea have increased at an annualized rate of 15.2%, from $3.17B in 2017 to $6.43B in 2022.

In 2022, Brazil did not export any services to South Korea.

South Korea-Brazil Trade: In 2022, South Korea exported $5.28B to Brazil. The main products that South Korea exported to Brazil were Integrated Circuits ($1.1B), Motor vehicles; parts and accessories (8701 to 8705) ($625M), and Spark-Ignition Engines ($258M). Over the past 5 years the exports of South Korea to Brazil have decreased at an annualized rate of 1.66%,  from $5.74B in 2017 to $5.28B in 2022.

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 2022,  Brazil ranked 49 in the Economic Complexity Index (ECI 0.36), and 25 in total exports ($341B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Latest Trends

October, 2024

About

Overview In October 2024, Brazil exported $747M and imported $519M from South Korea, resulting in a positive trade balance of $228M. Between October 2023 and October 2024 the exports of Brazil have increased by $296M (65.5%) from $451M to $747M, while imports increased by $131M (33.7%) from $388M to $519M.

Trade In October 2024, the top exports of Brazil to South Korea were Corn ($181M), Crude Petroleum ($70.8M), Alcohol > 80% ABV ($56.4M), Iron Ore ($50.1M), and Poultry Meat ($37.5M). In October 2024 the top imports of Brazil from South Korea were Integrated Circuits ($124M), Motor vehicles; parts and accessories (8701... ($43.2M), Spark-Ignition Engines ($15.9M), Vaccines, blood, antisera, toxins and cultures ($10.2M), and Refined Petroleum ($9.92M).

Origins In October 2024 the exports of Brazil were mainly from Rio Grande do Sul ($195M), Rio de Janeiro ($136M), Minas Gerais ($71.2M), Paraná ($64.1M), and Mato Grosso ($58.8M), while imports destinations were mainly São Paulo ($267M), Amazonas ($78.3M), Santa Catarina ($61.1M), Goiás ($19.9M), and Rio Grande do Sul ($19.8M).

Growth In October 2024, the increase in Brazil's year-by-year exports to South Korea was explained primarily by an increase in product exports in Corn ($75.1M or 70.8%), Soybean Meal ($32.4M or 13.3k%), and Alcohol > 80% ABV ($20.8M or 58.5%). In October 2024, the increase in Brazil's year-by-year imports  from South Korea was explained primarily by an increase in product imports  in Refined Petroleum ($5.03M or 103%), Computers ($3.98M or 311%), and Radio Receivers ($2.28M or 294%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$296M(65.5%)
IMPORT GROWTH (October 2023 - October 2024)$131M(33.7%)
MAIN EXPORTER (October 2024)Rio Grande do Sul$195M

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 2022, Brazil exported $6.43B to South Korea. The main products exported from Brazil to South Korea were Crude Petroleum ($1.75B), Iron Ore ($867M), and Corn ($647M). During the last 5 years the exports of Brazil to South Korea have increased at an annualized rate of 15.2%, from $3.17B in 2017 to $6.43B in 2022.

In 2017, South Korea exported $5.28B to Brazil. The main products exported from South Korea to Brazil were Integrated Circuits ($1.1B), Motor vehicles; parts and accessories (8701 to 8705) ($625M), and Spark-Ignition Engines ($258M). During the last 5 years the exports of South Korea to Brazil have decreased at an annualized rate of 1.66%, from $5.74B in 2022 to $5.28B in 2017.

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

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

Market Competitiveness

Color
Brazil
Top DestinationChina$90.1B
South Korea
Top DestinationChina$150B

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 2022, countries that imported more from Brazil than South Korea included Argentina ($15.4B), Chile ($9.17B), and Spain ($9.78B).

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

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

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 2022, Brazil had a large net trade with South Korea in the exports of Mineral Products ($2.66B), Foodstuffs ($1.23B), and Vegetable Products ($1.17B).

During 2017, South Korea had a large net trade with Brazil in the exports of Machines ($2.39B), Transportation ($734M), and Chemical Products ($722M).

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) (2022)

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