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South Korea, here represented by top port Busan, posted a decline in Latin America trade last year. (Photo: Jpatokal)
Haiti leads Latin American export growth to South Korea. Here workers at the Caracol factory of SAE. (Photo: SAE)
Tuesday, May 21, 2013
Special Reports

Korea-Latin America Trade Declines

Peru replaces Colombia as South Korea's fifth-largest market in Latin America.

BY JOACHIM BAMRUD

Latin America’s trade with South Korea fell by 6.3 percent last year to $56.5 billion. That was the worst performance among Latin America’s top ten trade partners, according to a Latinvex analysis.

The decline was mainly driven by an 8.4 percent fall in exports to Latin America, which last year reached $36.7 billion. Meanwhile, Latin America’s own exports to South Korea also fell, by 2.2 percent to $19.7 billion. As a result, Latin America’s trade deficit with South Korea fell 14.7 percent to $17.0 billion, according to the Latinvex analysis.

South Korea’s trade fell with 14 of its 20 trade partners in Latin America and the Caribbean. The worst decline was with Bolivia (a 38.5 percent fall), followed by Cuba (26.9 percent) and Haiti (22.2 percent).

BRAZIL AND MEXICO

South Korea’s trade with Brazil, its top trade partner in Latin America, fell by ...

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Keywords: Argentina, Bolivia, Brazil, Caracol Industrial Park, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Inter-American Development Bank, Mexico, Nicaragua, Panama, Paraguay, Peru, SAE, Uruguay and Venezuela

THE NUMBERS

Korea-Latin America Trade (2012)

Korea-Latin America Trade (2012): Top Trade Partners

Korea-Latin America Trade (2012): Top Export Markets

Korea-Latin America Trade (2012): Top Latin American Exporters

Korea-Latin America Trade (2012): Trade Growth Winners & Losers

Korea-Latin America Trade (2012): Export Growth Winners & Losers

Korea-Latin America Trade (2012): Import Growth Winners & Losers

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