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

About

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.

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.

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

Latest Trends

August, 2024

About

Overview In August 2024, Chile exported $504M and imported $43.8M from South Korea, resulting in a positive trade balance of $461M. Between August 2023 and August 2024 the exports of Chile have increased by $44.8M (9.75%) from $460M to $504M, while imports decreased by $-18M (-29.1%) from $61.8M to $43.8M.

Trade In August 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 August 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 August 2024 the exports of Chile were mainly from Las Condes ($339M), Santiago ($52.9M), La Serena ($27.8M), Iquique ($24.2M), and Rancagua ($13.9M), while imports destinations were mainly Las Condes ($23.3M), Santiago ($6.11M), Providencia ($3.49M), San Bernardo ($2.15M), and Vitacura ($1.62M).

Growth In August 2024, the increase in Chile's year-by-year exports to South Korea was explained primarily by an increase in product exports in Refined Copper ($74.2M or 56.3%), Carbonates ($56.2M or 185%), and Inorganic Salts ($32.9M or 471%). In August 2024, the decrease in Chile's year-by-year imports  from South Korea was explained primarily by an decrease in product imports  in Video Displays ($-20.4M or -99.7%), Motor vehicles; parts and accessories (8701... ($-15M or -97%), and Electrical Ignitions ($-4.55M or -97.8%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$44.8M(9.75%)
IMPORT GROWTH (August 2023 - August 2024)$-18M(-29.1%)
MAIN EXPORTER (August 2024)Las Condes$339M

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.

For full datasets download visit Bulk Download page.

Explore South Korea and Chile Data

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Historical Data

Bilateral Trade by Products

Depth
Value

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 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 2017, 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 2022 to $1.81B in 2017.

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

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

Market Competitiveness

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

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

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

Comparative Advantage Chile - South Korea

Flow
Scale

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 2017, South Korea had a large net trade with Chile in the exports of Transportation ($765M), Machines ($240M), and Plastics and Rubbers ($200M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Chile South Korea+$10.7MNon-fillet Frozen Fish
Top Product Potential South Korea Chile+$99.1MRefined 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 Chile and South Korea. This means that a dot/product with the flag of Chile 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 Chile.

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

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