Brazil - South Korea Trade 2024 Q3: $260M Surplus
Key Market Takeaways: Brazil - South Korea Trade
The bilateral trade relationship between Brazil and South Korea shows volatile but growing momentum in 2024 Q3.
- Brazil holds a $260M surplus, with exports ($1.66B) outpacing imports ($1.40B), driven by a sharp September rebound (+57.4% YoY).
- Resource-for-Tech exchange: Brazil - South Korea trade statistics reveal agricultural/mineral exports (HS 10, 26, 27) for high-tech imports (HS 85, 84), reflecting classic complementarity.
- Asymmetric interdependence: South Korea retains higher value-add in manufacturing, while Brazil secures critical tech inflows.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Brazil-South Korea Trade Trend in Q3 2024
Brazil Export Performance: Shipments to South Korea
- Total Volume: $1.66B in Q3 2024.
- Growth Trend & Context:
- Strong YoY rebound in September (+57.4%), offsetting earlier declines (-21.96% in July, -12.78% in August).
- Key Volatility: September saw the highest MoM surge (+38.52%) and peak export value ($734.25M).
Brazil Import Performance: Sourcing from South Korea
- Total Volume: $1.40B in Q3 2024.
- Growth Trend & Context:
- Consistent YoY growth (July: +7.16%, August: +17.06%, September: +14.24%) despite a MoM dip in September (-8.53%).
- Key Volatility: August recorded the highest import value ($481.21M), while September saw the sharpest MoM contraction.
Brazil - South Korea Trade Balance & Market Dynamics
- Net Position: Brazil holds a $260M trade surplus with South Korea (Exports: $1.66B > Imports: $1.40B).
- Relationship Status: Brazil maintains a net exporter role, with exports accelerating sharply in September.
Brazil Import Trend from South Korea 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 476.98M | 9.63% | 7.16% |
| Aug | 481.21M | 0.89% | 17.06% |
| Sep | 440.17M | -8.53% | 14.24% |
| Total | 1.40B | - | - |
Brazil Export Trend to South Korea 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 397.19M | 65.56% | -21.96% |
| Aug | 530.06M | 33.45% | -12.78% |
| Sep | 734.25M | 38.52% | 57.4% |
| Total | 1.66B | - | - |
Get Historical Brazil South Korea Trade Records
Brazil-South Korea Top Trading Products in Q3 2024
Brazil Export Profile: What Does Brazil Sell to South Korea
- Top Commodity: Cereals (HS Code 10) dominate exports, accounting for 21.89% of total value.
- Demand Driver: South Korea relies on Brazil for agricultural raw materials (HS Codes 10, 12, 02) and industrial inputs (HS Codes 26, 27, 72), indicating use in food processing and manufacturing.
- Concentration: The top 3 exports (HS Codes 10, 27, 26) make up 49.13% of trade, showing moderate concentration.
Brazil Import Profile: What Does Brazil Buy from South Korea
- Top Commodity: Electrical machinery (HS Code 85) leads imports at 34.27%, followed by machinery (HS Code 84) at 14.61%.
- Dependency Nature: Brazil imports high-tech goods (HS Codes 85, 84, 90) and industrial chemicals (HS Codes 39, 38), reflecting critical technology and manufacturing dependencies.
Brazil - South Korea Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Brazil supplies agricultural and mineral resources (HS Codes 10, 26, 27) in exchange for South Korean machinery and electronics (HS Codes 85, 84).
- Value Chain Position: South Korea holds the higher value-add position, exporting advanced manufactured goods, while Brazil provides upstream raw materials.
Import Analysis by Product: South Korea to Brazil (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 479.21M | 34.27% |
| 84 | 204.24M | 14.61% |
| 87 | 149.03M | 10.66% |
| 39 | 126.72M | 9.06% |
| 30 | 66.09M | 4.73% |
| 38 | 64.71M | 4.63% |
| 90 | 60.44M | 4.32% |
| 72 | 59.32M | 4.24% |
| 29 | 49.79M | 3.56% |
| 27 | 18.82M | 1.35% |
Export Analysis by Product: Brazil to South Korea (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 10 | 363.64M | 21.89% |
| 27 | 248.99M | 14.99% |
| 26 | 203.45M | 12.25% |
| 84 | 172.26M | 10.37% |
| 23 | 132.16M | 7.95% |
| 22 | 87.21M | 5.25% |
| 12 | 82.31M | 4.95% |
| 72 | 75.66M | 4.55% |
| 02 | 66.81M | 4.02% |
| 47 | 58.65M | 3.53% |
Check Detailed Brazil-South Korea Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Brazil’s trade surplus with South Korea is poised to widen in Q4 2024, driven by sustained demand for agricultural commodities (HS Codes 10, 12) and industrial inputs (HS Codes 26, 27). The September export surge (+57.4% YoY) signals a rebound in South Korean procurement, likely extending into year-end as food processing and manufacturing sectors stockpile raw materials. However, import volatility—particularly the 8.53% MoM drop in September—suggests potential supply chain adjustments for high-tech goods (HS Codes 85, 84). The Brazil-South Korea trade forecast hinges on stable resource-for-tech exchange, with Brazil’s export growth outpacing imports if commodity prices remain firm.
Strategic Moves
- Lock in Agri-Export Contracts: Brazilian cereal (HS Code 10) exporters should secure long-term agreements with South Korean buyers to capitalize on elevated demand and mitigate price swings.
- Diversify Tech Imports: Brazilian manufacturers reliant on South Korean machinery (HS Code 84) and electronics (HS Code 85) must identify alternative suppliers in ASEAN or India to reduce dependency risks.
- Monitor Logistics Costs: With August’s import peak ($481.21M) followed by a September dip, traders should optimize shipping schedules to avoid Q4 congestion and tariff spikes.
Frequently Asked Questions
How did Brazil - South Korea trade perform in 2024 Q3?
Brazil exported $1.66B to South Korea, with a strong YoY rebound in September (+57.4%), while imports totaled $1.40B, showing consistent YoY growth.
What are the top exports from Brazil to South Korea?
Cereals (HS Code 10) dominate Brazil's exports to South Korea, followed by mineral fuels (HS Code 27) and ores (HS Code 26), accounting for 49.13% of total trade.
What does Brazil import from South Korea?
Electrical machinery (HS Code 85) leads Brazil's imports from South Korea, followed by machinery (HS Code 84) and high-tech goods (HS Code 90).
What is the trade balance between Brazil and South Korea?
Brazil holds a $260M trade surplus with South Korea, driven by strong exports in September, maintaining its net exporter role.
Brazil - Singapore Trade 2025 Q2: Resource-for-Tech Surplus
Brazil's $1.26B surplus with Singapore in Q2 2025 highlights a resource-for-tech exchange. Mineral fuels dominate Brazil Singapore trade trend, while Singapore supplies high-tech machinery. Data via yTrade.
Brazil - South Korea Trade 2025 Q1: Volatile Deficit & Tech-Resource Exchange
Brazil's South Korea trade trend shows a $140M deficit in Q1 2025, with volatile swings. Top trading products: Brazil's fuels/ores vs. South Korea's machinery/electronics. Verified by yTrade.
