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Pricing

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

About

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.

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.

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

Latest Trends

October, 2024

About

Overview In October 2024, South Korea exported $390M and imported $865M from Brazil, resulting in a negative trade balance of $475M. Between October 2023 and October 2024 the exports of South Korea have increased by $56.8M (17.1%) from $333M to $390M, while imports increased by $179M (26.1%) from $686M to $865M.

Trade In October 2024, the top exports of South Korea to Brazil were Electrical machinery and electronics ($78.9M), Cars, tractors, trucks & parts thereof. ($63.9M), Machinery, mechanical appliances, & parts ($47.8M), Plastics & articles thereof ($31.2M), and Iron & steel ($31.2M). In October 2024 the top imports of South Korea from Brazil were Mineral fuels, mineral oils and products... ($165M), Cereals ($146M), Ores, slag and ash ($113M), Food residues & wastes; animal fodder ($51.8M), and Meat & edible offal ($47.9M).

Growth In October 2024, the increase in South Korea's year-by-year exports to Brazil was explained primarily by an increase in product exports in Iron/Steel Articles ($5.92M or 127%), Pharmaceutical products ($3.82M or 29.5%), and Cars, tractors, trucks & parts thereof. ($3.17M or 5.22%). In October 2024, the increase in South Korea's year-by-year imports  from Brazil was explained primarily by an increase in product imports  in Cereals ($90.4M or 163%), Wood pulp & paper scrap ($33.2M or 469%), and Meat & edible offal ($25.6M or 114%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$56.8M(17.1%)
IMPORT GROWTH (October 2023 - October 2024)$179M(26.1%)

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

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, 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 2017 to $5.28B in 2022.

In 2017, 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 2022 to $6.43B in 2017.

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

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

Market Competitiveness

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

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

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

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

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 2022, South Korea had a large net trade with Brazil in the exports of Machines ($2.39B), Transportation ($734M), and Chemical Products ($722M).

During 2017, 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).

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) (2022)

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