Brazil - Chile Trade 2024 Q2: Resource Swap Surplus
Key Market Takeaways: Brazil - Chile Trade
The bilateral trade relationship between Brazil and Chile shows growth with notable volatility in Q2 2024.
- Economic Pulse: Brazil maintains a $410M trade surplus ($1.84B exports vs. $1.43B imports), though export performance was uneven with sharp YoY declines in May and June.
- Exchange Structure: The trade is a resource-for-resource swap—Brazil supplies Mineral Fuels (41% of exports) while importing Copper (47% of imports). (Brazil - Chile trade statistics highlight raw material dependency.)
- Strategic Interdependence: Complementary but low-value-added trade, driven by natural resource endowments rather than advanced supply chain integration.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Brazil-Chile Trade Trend in Q2 2024
Brazil Export Performance: Shipments to Chile
- Total Volume: $1.84B in Q2 2024.
- Growth Trend & Context:
- YoY growth was mixed: April (+41.35%) surged, but May (-30.0%) and June (-19.75%) saw sharp declines.
- No specific trade news to explain the volatility.
- Key Volatility: May had the steepest MoM drop (-25.24%), while June showed marginal recovery (+1.06%).
Brazil Import Performance: Sourcing from Chile
- Total Volume: $1.43B in Q2 2024.
- Growth Trend & Context:
- Strong YoY growth in April (+37.34%) and June (+59.64%), with May moderating (+29.21%).
- Key Volatility: April saw the highest MoM jump (+46.26%), followed by a -15.13% contraction in May.
Brazil - Chile Trade Balance & Market Dynamics
- Net Position: Brazil holds a trade surplus of $410M (Exports: $1.84B > Imports: $1.43B).
- Relationship Status: Brazil maintains a net exporter role, though import growth (especially in June) suggests rising demand for Chilean goods.
Brazil Import Trend from Chile 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 512.95M | 46.26% | 37.34% |
| May | 435.35M | -15.13% | 29.21% |
| Jun | 484.73M | 11.34% | 59.64% |
| Total | 1.43B | - | - |
Brazil Export Trend to Chile 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 735.43M | 75.36% | 41.35% |
| May | 549.84M | -25.24% | -30.0% |
| Jun | 555.69M | 1.06% | -19.75% |
| Total | 1.84B | - | - |
Get Historical Brazil Chile Trade Records
Brazil-Chile Top Trading Products in Q2 2024
Brazil Export Profile: What Does Brazil Sell to Chile
- Top Commodity: Rank #1 export is Mineral Fuels (HS 27) at 41.11% of total exports to Chile.
- Demand Driver: Chile uses these for industrial processing and energy needs.
- Concentration: Trade is moderately concentrated, with the top commodity holding over 40% share.
Brazil Import Profile: What Does Brazil Buy from Chile
- Top Commodity: Rank #1 import is Copper (HS 74) at 46.55% of total imports from Chile.
- Dependency Nature: Raw material dependency, as Brazil sources critical industrial inputs like copper from Chile.
Brazil - Chile Trade Relationship Dynamics
- The Exchange Model: Resource-for-Resource Complementarity. Brazil exports energy (Mineral Fuels) and imports industrial metals (Copper), reflecting a raw material swap.
- Value Chain Position: Both countries trade low-value-added commodities, with neither holding a clear high-value position. Trade is driven by natural resource endowments.
Import Analysis by Product: Chile to Brazil (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 667.07M | 46.55% |
| 03 | 226.83M | 15.83% |
| 08 | 106.40M | 7.42% |
| 26 | 71.25M | 4.97% |
| 22 | 51.14M | 3.57% |
| 29 | 47.34M | 3.30% |
| 28 | 35.20M | 2.46% |
| 31 | 31.83M | 2.22% |
| 07 | 25.58M | 1.78% |
| 25 | 24.11M | 1.68% |
Export Analysis by Product: Brazil to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 756.90M | 41.11% |
| 02 | 251.74M | 13.67% |
| 87 | 203.59M | 11.06% |
| 84 | 87.49M | 4.75% |
| 39 | 63.36M | 3.44% |
| 23 | 48.28M | 2.62% |
| 48 | 38.39M | 2.09% |
| 85 | 37.41M | 2.03% |
| 21 | 25.93M | 1.41% |
| 76 | 22.54M | 1.22% |
Check Detailed Brazil-Chile Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Brazil-Chile trade relationship is poised for moderate growth in Q3 2024, driven by persistent demand for mineral fuels and copper. However, exporters must brace for continued volatility, particularly in Brazil’s shipments to Chile, given the erratic YoY performance in Q2. The structural complementarity—Brazil’s energy exports for Chile’s industrial metals—will sustain trade volumes, but traders should anticipate price fluctuations in raw materials due to global commodity market pressures.
Strategic Moves
- Lock in Long-Term Supply Contracts: Brazilian mineral fuel exporters should secure fixed-term agreements with Chilean buyers to stabilize revenue amid unpredictable monthly swings.
- Diversify Copper Sourcing: Brazilian manufacturers reliant on Chilean copper must explore alternative suppliers (e.g., Peru, Zambia) to mitigate concentration risk and price volatility.
- Monitor Trade Policy Shifts: Both nations may adjust tariffs or export quotas to manage domestic supply chains; traders must stay ahead of regulatory changes to avoid disruptions.
Frequently Asked Questions
How did Brazil - Chile trade perform in 2024 Q2?
Brazil's exports to Chile totaled $1.84B, with mixed YoY growth (April surged, May-June declined). Imports from Chile reached $1.43B, showing strong YoY growth, especially in June (+59.64%).
What are the top exports from Brazil to Chile?
The top export is Mineral Fuels (HS 27), accounting for 41.11% of Brazil's shipments to Chile, primarily used for industrial processing and energy needs.
What does Brazil import from Chile?
Brazil's top import from Chile is Copper (HS 74), making up 46.55% of total imports, reflecting a dependency on raw materials for industrial inputs.
What is the trade balance between Brazil and Chile?
Brazil holds a trade surplus of $410M with Chile in Q2 2024, maintaining its net exporter role despite rising demand for Chilean goods.
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.
Brazil - Chile Trade 2024 Q3: Declining Exports
Brazil's trade surplus with Chile softened in Q3 2024, with exports dropping 17.13% YoY. Explore Brazil Chile trade trends and top trading products via yTrade data.
