Chile - South Korea Trade 2025 Q1: $779.69M Surplus

Key Market Takeaways: Chile - South Korea Trade

The bilateral trade relationship between Chile and South Korea shows growth with high volatility in Q1 2025.

• Chile holds a $779.69M trade surplus, exporting $1.17B (mixed YoY growth) while importing $390.31M (extreme YoY swings).
• Trade statistics reveal a resource-for-tech exchange: Chile supplies ores/copper (64.56% of exports) and imports vehicles/machinery (33.02% of imports).
• Strategic complementarity drives the partnership: Chile’s raw materials feed South Korea’s industrial base, while South Korea dominates high-value manufacturing.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Chile-South Korea Trade Trend in Q1 2025

Chile Export Performance: Shipments to South Korea

• Total Volume: $1.17B in Q1 2025.
• Growth Trend & Context: Mixed YoY performance—January saw a sharp -29.0% decline, but February rebounded with +23.33%. March dipped again (-6.87%). No clear trend, suggesting volatile demand or pricing shifts.
• Key Volatility: January had a +25.86% MoM surge, while March dropped -12.34% MoM.

Chile Import Performance: Sourcing from South Korea

• Total Volume: $390.31M in Q1 2025.
• Growth Trend & Context: YoY swings were extreme—February plummeted -52.19%, but January grew +33.26%. March remained negative (-20.63%). No news to explain the erratic shifts.
• Key Volatility: February’s -11.44% MoM drop was the sharpest, while January’s +13.13% MoM rise peaked.

Chile - South Korea Trade Balance & Market Dynamics

• Net Position: $779.69M surplus for Chile (Exports $1.17B > Imports $390.31M).
• Relationship Status: Chile dominates as a net exporter, but import volatility hints at uneven supply chains or demand shifts.

Chile Import Trend from South Korea 2025 Q1 (Source: yTrade)**

Chile Export Trend to South Korea 2025 Q1 (Source: yTrade)**

Get Historical Chile South Korea Trade Records

Chile-South Korea Top Trading Products in Q1 2025

Chile Export Profile: What Does Chile Sell to South Korea

• Top Commodity: Rank #1 export is HS Code 26 (Ores, slag, and ash) at 42.74% of total exports.
• Demand Driver: South Korea uses these raw materials for industrial processing, likely in steel production or electronics manufacturing.
• Concentration: Trade is highly concentrated, with HS Code 26 and HS Code 74 (Copper and articles thereof) together accounting for 64.56% of exports.

Chile Import Profile: What Does Chile Buy from South Korea

• Top Commodity: Rank #1 import is HS Code 87 (Vehicles and parts) at 33.02% of total imports.
• Dependency Nature: Critical technology dependency, as South Korea supplies Chile with high-value automotive and machinery products.

Chile - South Korea Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Chile exports raw materials (ores, copper) while importing high-tech goods (vehicles, machinery) from South Korea.
• Value Chain Position: South Korea holds the higher value-add position, supplying advanced manufactured goods, while Chile remains a key supplier of industrial raw materials.

Import Analysis by Product: South Korea to Chile (Source: yTrade)

Export Analysis by Product: Chile to South Korea (Source: yTrade)

Check Detailed Chile-South Korea Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast for Chile-South Korea Trade

Chile’s trade surplus with South Korea is likely to persist in Q2 2025, driven by steady demand for raw materials like ores and copper. However, the volatility in monthly export and import growth signals potential price fluctuations or supply chain disruptions, requiring cautious monitoring. South Korea’s reliance on Chilean resources for industrial production will sustain exports, but import swings in high-tech goods suggest uneven demand or inventory adjustments. Traders should prepare for a period of consolidation rather than explosive growth.

Strategic Moves for Stakeholders

• Lock in Long-Term Supply Contracts: Chilean exporters of ores and copper should secure multi-year agreements with South Korean buyers to stabilize revenue amid price volatility.
• Diversify Import Sources: Chilean importers of vehicles and machinery must explore alternative suppliers (e.g., Japan or Germany) to mitigate risks from South Korea’s erratic shipment patterns.
• Monitor Industrial Policy Shifts: Both nations’ trade agencies should track South Korea’s green energy and semiconductor policies, as these sectors could drive future demand for Chilean critical minerals.

Frequently Asked Questions

How did Chile - South Korea trade perform in 2025 Q1?

Chile's exports to South Korea totaled $1.17B in Q1 2025, with mixed YoY growth, while imports from South Korea reached $390.31M, showing extreme YoY swings.

What are the top exports from Chile to South Korea?

The top exports are HS Code 26 (Ores, slag, and ash) at 42.74% and HS Code 74 (Copper and articles thereof), together accounting for 64.56% of total exports.

What does Chile import from South Korea?

The top import is HS Code 87 (Vehicles and parts) at 33.02% of total imports, reflecting a dependency on high-tech goods from South Korea.

What is the trade balance between Chile and South Korea?

Chile recorded a $779.69M trade surplus in Q1 2025, driven by higher exports of raw materials compared to imports of advanced manufactured goods.