Chile-Rep. of Korea Bilateral Trade Analysis 2023
Complete trade statistics: $7.51B total volume •Chile surplus: $4.53B
Chile → Rep. of Korea
$6.02B
Exports (2023)
Rep. of Korea → Chile
$1.49B
Imports (2023)
Trade Balance
$4.53B
Surplus for Chile
Total Trade
$7.51B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Chile and Rep. of Korea. Green line shows exports from Chile, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Chile-Rep. of Korea commercial relationship and competitive positioning in global markets.
Chile → Rep. of Korea Exports
Export Market Intelligence
🎯 Strategic Export Focus
Chile's export portfolio to Rep. of Korea demonstrates strong diversification across multiple sectors, with copper: refined, unwrought, cathodes and sections of cathodes representing a key competitive advantage in this bilateral market.
Rep. of Korea → Chile Imports
Import Dependency Profile
📦 Import Strategy Analysis
Chile's import pattern from Rep. of Korea reveals significant dependencyin vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Chile demonstrates competitive strength in exportingcopper: refined, unwrought, cathodes and sections of cathodes to Rep. of Korea, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $7.51B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Chile-Rep. of Korea Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $7.51 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Chile maintains a surplus of $4.53 billion
- Export Focus: Chile's primary exports include copper: refined, unwrought, cathodes and sections of cathodes, copper ores and concentrates, carbonates: lithium carbonate
- Import Dependencies: Key imports from Rep. of Korea include vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), for transport of goods, (of a gvw not exceeding 5 tonnes), n.e.c. in item no 8704.1
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $7.51B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Chile leveraging its comparative advantages in copper: refined, unwrought, cathodes and sections of cathodes.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Chile's specialization in copper: refined, unwrought, cathodes and sections of cathodescomplements Rep. of Korea's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $7.51B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $7.51B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $7.51 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in copper: refined, unwrought, cathodes and sections of cathodes and vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Chile's trade surplus of $4.53 billion strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Chile and Rep. of Korea represents a total trade volume of $7.51 billion in 2023. This partnership demonstrates a favorable trade balance for Chile, with exports exceeding importsby $4.53 billion.
Export Strengths
Chile's exports to Rep. of Korea total $6.02 billion, with competitive advantages in copper: refined, unwrought, cathodes and sections of cathodes, representing $1.25B or20.7% of bilateral exports.
Import Dependencies
Imports from Rep. of Korea amount to $1.49 billion, highlighting economic interdependence in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, with Vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc comprising15.0% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Chile's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Chile and Rep. of Korea in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023