Brazil - Chile Trade 2024 Whole Year: Volatile Growth
Key Market Takeaways: Brazil - Chile Trade
The bilateral trade relationship between Brazil and Chile shows growth with high volatility in 2024, with Brazil maintaining a trade surplus.
- Economic Pulse: Brazil holds a $1.55B surplus ($6.66B exports vs. $5.11B imports), but monthly trade flows were erratic, with sharp YoY swings in both directions.
- Exchange Structure: Brazil - Chile trade statistics reveal a resource-for-resource swap—Brazil supplies mineral fuels (29.8% of exports) while importing Chilean copper (42.4% of imports).
- Strategic Interdependence: Both economies rely on raw material exchanges, with no high-value-added dominance, reflecting mutual commodity dependencies.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Brazil-Chile Trade Trend in Whole Year 2024
Brazil Export Performance: Shipments to Chile
- Total Volume: $6.66B in 2024.
- Growth Trend & Context:
- YoY trends show sharp volatility, with notable declines in March (-44.42%), May (-30%), and December (-28.98%).
- April saw a significant YoY rebound (+41.35%), but overall, exports struggled to maintain consistent growth.
- Key Volatility: March recorded the steepest MoM drop (-29.13%), while April had the highest MoM surge (+75.36%).
Brazil Import Performance: Sourcing from Chile
- Total Volume: $5.11B in 2024.
- Growth Trend & Context:
- YoY performance was mixed, with strong growth in April (+37.34%) and June (+59.64%), but contractions in March (-15.87%) and December (-5.89%).
- Key Volatility: April posted the highest MoM jump (+46.26%), while November saw the sharpest MoM decline (-25.64%).
Brazil - Chile Trade Balance & Market Dynamics
- Net Position: Brazil holds a trade surplus of $1.55B ($6.66B exports vs. $5.11B imports).
- Relationship Status: Brazil remains a net exporter to Chile, though both sides experienced erratic monthly trade flows. The surplus suggests sustained demand for Brazilian goods despite volatility.
Brazil Import Trend from Chile 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 363.57M | -6.88% | 5.63% |
| Feb | 367.73M | 1.14% | 0.07% |
| Mar | 350.70M | -4.63% | -15.87% |
| Apr | 512.95M | 46.26% | 37.34% |
| May | 435.35M | -15.13% | 29.21% |
| Jun | 484.73M | 11.34% | 59.64% |
| Jul | 482.06M | -0.55% | 33.95% |
| Aug | 410.88M | -14.76% | 11.8% |
| Sep | 414.68M | 0.92% | 9.07% |
| Oct | 526.49M | 26.96% | 14.88% |
| Nov | 391.47M | -25.64% | 9.21% |
| Dec | 367.44M | -6.14% | -5.89% |
| Total | 5.11B | - | - |
Brazil Export Trend to Chile 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 554.55M | -7.9% | 1.27% |
| Feb | 591.72M | 6.7% | 14.92% |
| Mar | 419.38M | -29.13% | -44.42% |
| Apr | 735.43M | 75.36% | 41.35% |
| May | 549.84M | -25.24% | -30.0% |
| Jun | 555.69M | 1.06% | -19.75% |
| Jul | 602.21M | 8.37% | -21.25% |
| Aug | 679.64M | 12.86% | -4.5% |
| Sep | 462.75M | -31.91% | -17.13% |
| Oct | 507.12M | 9.59% | -41.8% |
| Nov | 572.20M | 12.83% | -4.96% |
| Dec | 427.57M | -25.28% | -28.98% |
| Total | 6.66B | - | - |
Get Historical Brazil Chile Trade Records
Brazil-Chile Top Trading Products in Whole Year 2024
Brazil Export Profile: What Does Brazil Sell to Chile
- Top Commodity: Rank #1 export is Mineral Fuels (HS 27), accounting for 29.84% of total exports to Chile.
- Demand Driver: Chile uses these for industrial processing and energy needs, reflecting Brazil's role as a key supplier of raw materials.
- Concentration: Trade is moderately concentrated, with the top 3 exports (HS 27, 02, 87) making up 59.01% of total exports.
Brazil Import Profile: What Does Brazil Buy from Chile
- Top Commodity: Rank #1 import is Copper (HS 74), representing 42.41% of total imports from Chile.
- Dependency Nature: Brazil relies on Chile for raw material dependency, particularly copper for industrial and construction sectors.
Brazil - Chile Trade Relationship Dynamics
- The Exchange Model: Resource-for-Resource Complementarity. Brazil exports mineral fuels (HS 27) and meat (HS 02) while importing copper (HS 74) and seafood (HS 03), highlighting a swap of raw materials.
- Value Chain Position: Both countries trade in low-value-added commodities, with neither holding a clear high-value position. The exchange is driven by mutual resource needs rather than advanced manufacturing.
Import Analysis by Product: Chile to Brazil (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 2.17B | 42.41% |
| 03 | 947.30M | 18.55% |
| 26 | 331.25M | 6.48% |
| 08 | 311.05M | 6.09% |
| 22 | 212.83M | 4.17% |
| 29 | 190.56M | 3.73% |
| 28 | 126.57M | 2.48% |
| 25 | 108.44M | 2.12% |
| 31 | 77.99M | 1.53% |
| 15 | 77.76M | 1.52% |
Export Analysis by Product: Brazil to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 1.99B | 29.84% |
| 02 | 1.03B | 15.51% |
| 87 | 909.30M | 13.66% |
| 84 | 400.96M | 6.02% |
| 39 | 291.67M | 4.38% |
| 23 | 250.59M | 3.76% |
| 85 | 183.42M | 2.75% |
| 48 | 182.24M | 2.74% |
| 76 | 103.45M | 1.55% |
| 40 | 84.87M | 1.27% |
Check Detailed Brazil-Chile Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Brazil’s trade surplus with Chile is expected to hold steady in 2025, but volatility in monthly flows will persist due to fluctuating commodity demand and pricing. The resource-for-resource complementarity between the two nations ensures sustained trade, yet exporters must brace for sharp swings, particularly in mineral fuels (HS 27) and copper (HS 74). If global energy prices remain unstable, Brazil’s export earnings could face pressure, while Chile’s copper shipments may benefit from rising industrial demand. Traders should monitor Chile’s energy diversification plans, as shifts in sourcing could impact Brazil’s fuel exports.
Strategic Moves
- Lock in long-term supply contracts for copper: Given Brazil’s heavy reliance on Chilean copper (HS 74), importers should negotiate fixed-price agreements to hedge against market volatility and secure stable supply chains.
- Diversify export markets for mineral fuels: While Chile remains a key buyer of Brazilian fuels (HS 27), exporters must expand into other Latin American markets to mitigate risks from sudden demand drops.
- Optimize logistics for perishable goods: With meat (HS 02) and seafood (HS 03) playing significant roles, traders should invest in cold-chain efficiency to reduce spoilage and maintain competitive pricing.
Frequently Asked Questions
How did Brazil - Chile trade perform in 2024 Whole Year?
Brazil exported $6.66B to Chile and imported $5.11B, with volatile monthly growth but an overall trade surplus of $1.55B.
What are the top exports from Brazil to Chile?
Mineral Fuels (HS 27), Meat (HS 02), and Vehicles (HS 87) are the top exports, making up 59.01% of total shipments.
What does Brazil import from Chile?
Copper (HS 74) is the top import, accounting for 42.41% of total imports, followed by seafood (HS 03).
What is the trade balance between Brazil and Chile?
Brazil holds a trade surplus of $1.55B, driven by higher exports of mineral fuels and meat compared to imports of copper and seafood.
Brazil - Chile Trade 2023 Q3: Declining Volumes
Brazil's trade surplus with Chile hit $920M in Q3 2023, but both exports and imports declined YoY. Explore Brazil Chile trade trends and top trading products via yTrade data.
Brazil - Chile Trade 2024 Q1: Volatile Swings
Brazil's trade with Chile shows volatile swings in Q1 2024, with a $490M surplus. Explore Brazil Chile trade trends and top trading products via yTrade data.
