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

About

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.

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.

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

Latest Trends

November, 2024

About

Overview In November 2024, Chile exported $288M and imported $23.2M from South Korea, resulting in a positive trade balance of $265M. Between November 2023 and November 2024 the exports of Chile have decreased by $-209M (-42.1%) from $497M to $288M, while imports decreased by $-42.3M (-64.6%) from $65.5M to $23.2M.

Trade In November 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 November 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 November 2024 the exports of Chile were mainly from Las Condes ($155M), Iquique ($27.2M), Antofagasta ($22.8M), Santiago ($21.6M), and Rancagua ($10.5M), while imports destinations were mainly Las Condes ($6.03M), Providencia ($3.45M), Santiago ($1.97M), Cerrillos ($1.81M), and Recoleta ($1.8M).

Growth In November 2024, the decrease in Chile's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Molybdenum Ore ($-13.9M or -28.2%), Sawn Wood ($-6.51M or -57.9%), and Pig Meat ($-5.71M or -32.5%). In November 2024, the decrease in Chile's year-by-year imports  from South Korea was explained primarily by an decrease in product imports  in Video Displays ($-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 (November 2023 - November 2024)$-209M(-42.1%)
IMPORT GROWTH (November 2023 - November 2024)$-42.3M(-64.6%)
MAIN EXPORTER (November 2024)Las Condes$155M

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 2023, 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 2018 to $6.02B in 2023.

In 2018, 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 2023 to $1.49B in 2018.

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

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

Market Competitiveness

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

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

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

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

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 2023, 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).

During 2018, South Korea had a large net trade with Chile in the exports of Transportation ($604M), Machines ($227M), and Mineral Products ($177M).

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) (2023)

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