From 2020 to 2024, Korea’s trade with Latin America averaged USD 48.3 billion per year, accounting for 3.9% of the country’s total trade with the world. Exports amounted to USD 21.7 billion, representing 3.5% of Korea’s total exports, while imports rose to USD 26.5 billion, making up 4.3%.
During the same period, Mexico, Brazil, and Chile were the three main trading partners in both exports and imports between Korea and Latin America, accounting for more than 70% of each.
Regarding exports, Mexico (53.2%) ranked as Korea’s top destination market, followed by Brazil (21.3%) and Chile (6.1%) between 2020 and 2024.
On the import side, Mexico (28.6%), Brazil (24.7%), and Chile (20.9%) together accounted for 74.2% of Korea’s imports from Latin America, followed by Peru (11%), bringing the total share to over 85% during the same period.
Finally, it is worth noting that Korea has a trade agreement only with Chile.
