2022
Flag  
GDP
$1.92TCURRENT US$
Rnk 11 / 186
2012-2022
Flag
GDP GROWTH
-22.1%CURRENT US$
Rnk 180 / 186
2022
Flag
 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%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 GROWTH
26.7%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).

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 Destination
China$90.1B
South Korea
Top Destination
China$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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