Year over year, South America’s most recent total cashflow for its exported products fell by -3.8% from $732.5 billion for 2022.
To give some global perspective, exports from all continents worldwide equaled $23.291 trillion in 2023, growing 24.1% in value compared to 2019 but depreciating by -5.8% from 2022 to 2023. Therefore, the fall in value of South American exports (down -3.8%) lagged the average year-over-year retreat for all countries.
To give further context, South American exports in 2023 represents an estimated 3% of the world’s exported goods. That percentage reflects an upturn from 2.9% one year earlier in 2022.
Calculated using statistics from the International Monetary Fund’s World Economic Outlook Database, the aggregate Gross Domestic Product for all South American countries (on a Purchasing Power Parity basis) amounted to roughly $8.352 trillion for 2023.
Therefore, exports accounted for approximately 8.4% of South America’s total economic output for 2023, down from 8.9% one year earlier. Those percentages suggest a relatively decreasing importance of exports on South America’s overall economic performance.
Given South America’s population of 426.3 million people, the $704.7 billion in South American exports for 2023 translates to roughly $1,100 for every person living on the continent. That metric reflects a reduction from the average $1,600 in exports per capita in 2022.
Top South American Export Countries
Below are the South American export countries sorted in order by those attained the highest dollar value in global shipments during 2023. Also shown is each country’s overall share of South American exports plus the change in value year over year.
| Rank | Exporter | 2022 Exports | % Continent | 2022-3 |
|---|---|---|---|---|
| 1. | Brazil | $339,695,766,000 | 48.2% | +1.6% |
| 2. | Chile | $100,290,449,000 | 14.2% | -2.3% |
| 3. | Argentina | $66,700,666,000 | 9.5% | -24.4% |
| 4. | Peru | $64,355,040,000 | 9.1% | +1.1% |
| 5. | Colombia | $49,542,894,000 | 7.0% | -13.5% |
| 6. | Ecuador | $31,126,424,000 | 4.4% | -12% |
| 7. | Paraguay | $11,868,906,000 | 1.7% | +19.3% |
| 8. | Bolivia | $10,910,868,000 | 1.55% | -20.1% |
| 9. | Guyana | $10,811,756,000 | 1.53% | +37.4% |
| 10. | Uruguay | $9,189,874,000 | 1.3% | -17.9% |
| 11. | Venezuela | $7,493,497,000 | 1.1% | +51.4% |
| 12. | Suriname | $2,310,900,000 | 0.3% | -18.5% |
| 13. | Falkland Is (Malvinas) | $361,000,000 | 0.05% | -10.7% |
Collectively, South America’s top 3 export countries (Brazil, Chile, Argentina) generated more than two-thirds (71.9%) of the overall value for all goods shipped from that continent in 2023.
The value of Brazil’s shipments approached half (48.2%) of all exports from South America. The most valuable Brazilian exports include soya beans, crude oil, iron ores and concentrates, sugar and corn.
The South American countries that grew the value of their international trade shipments by double-digit percentages were Venezuela (up 51.4% from 2022), Guyana (up 37.4%) and Paraguay (up 19.3%).
The severest decliners from 2022 to 2023 were exporters in Argentina (down -24.4%), Bolivia (down -20.1%), Suriname (down -18.5%), Uruguay (down -17.9%), Colombia (down -13.5%) and Ecuador (down -12%).
See also Argentina’s Top 10 Exports, Brazil’s Top 10 Exports, Chile’s Top Trade Partners and Guyana’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Exports and World Population. Accessed on September 25, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on September 25, 2024
International Trade Centre, Trade Map. Accessed on September 25, 2024
Wikipedia, Economy of Venezuela. Accessed on September 25, 2024
Wikipedia, List of South American countries by population. Accessed on September 25, 2024
WorldOMeter, South America Population. Accessed on September 25, 2024