2023 Sep Chile Global Trade Data Summary: Exports Dip, Imports Plummet

Chile 2023 Sep Trade Data Key Takeaways

• Market Trend: Chile trade data shows exports down 4.6% YoY, imports plummet 22.8%, creating a $360M surplus from demand collapse.
• Key Driver: Chile import export data reveals mining (ores, copper) dominates 57% of exports, with China absorbing 44% of shipments.
• Strategic Risk: Over-reliance on raw material exports and China exposes economy to commodity shocks and geopolitical shifts.

Analysis covers 2023 Sep based on sanitized customs records from the yTrade database.

Chile 2023 Sep Trade Data Trend Overview

• As a leading copper exporter and open market economy, Chile's global trade data for September 2023 reflects its critical role in global commodity supply chains.
• Chile’s import export data shows exports of $7.20B, a 4.6% year-on-year contraction, while imports slumped 22.8% to $6.84B, indicating a significant domestic demand pullback.
• This generated a monthly trade surplus of $360 million, a sharp reversal from previous periods, driven overwhelmingly by the import compression.
• The severe import contraction aligns with the broader economic and political uncertainty noted by authorities, which dampened domestic investment and consumer spending through 2023 [Chile - Market Challenges].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Chile Trade Data

Chile 2023 Sep Top Trading Products

Chile Global Trade Core Summary

Chile's exports are heavily resource-driven, with ores, copper, and fish making up over 60% of total exports. The top two categories—ores (34.5%) and copper (22.4%)—highlight a strong reliance on mining. Imports are more diverse, led by mineral fuels (20.5%) and machinery (13.6%), showing a need for energy and industrial equipment. The trade structure reveals a classic resource-exporting economy with high dependence on raw materials.

Key takeaways:

• Mining dominates exports, creating vulnerability to commodity price swings.
• Imports focus on energy and machinery, indicating industrial reliance on foreign technology.
• Limited high-value manufacturing in exports suggests untapped diversification potential.

Chile Export-Import Structural Gap

Chile exports raw materials like ores and copper but imports refined fuels and machinery, showing a gap between basic production and advanced manufacturing. The lack of overlap in top HS codes confirms a one-way flow: resources out, finished goods in. This pattern points to reliance on foreign technology for processing its own raw materials. The economy could benefit from upgrading into mid-stream production, like refining copper domestically. Currently, it remains a price-taker in global commodity markets.

Table: Chile Top Import & Export Product Categories (Source: yTrade)

Check Detailed Chile Trade HS Code Breakdown

Chile 2023 Sep Top Trading Countries

Chile Global Trade Key Patterns

Chile's exports show high concentration, with Mainland China alone accounting for 44.35% ($3.19B) of total exports. The U.S. (13.92%, $1.00B) and Japan (5.57%, $401M) are distant second and third markets, followed by regional partners like Brazil (4.59%, $330M) and Peru (1.93%, $139M). Imports are more balanced, led by China (23.48%, $1.61B) and the U.S. (21.17%, $1.45B), with Brazil (8.08%, $553M) and Argentina (6.92%, $473M) as key regional suppliers.

• Exports: Heavy reliance on China; limited diversification beyond top 3 markets.
• Imports: Broader sourcing, with top 2 suppliers (China, U.S.) holding <45% combined share.
• Regional ties: Strong trade with Latin America (Brazil, Argentina, Peru, Mexico).

Chile Export–Import Geographic Gap

Exports depend heavily on China, while imports are split between China and the U.S., reducing supply-chain risk. Overlapping partners like Brazil, Mexico, and Spain suggest two-way trade in specific goods. The structure shows upstream diversification (imports) but downstream concentration (exports), with Asia and North America dominating both flows. Regional trade is stronger in imports than exports, highlighting Chile’s role as a raw material exporter and manufactured goods importer.

Table: Chile Top Destiantion & Origin Countries (Source: yTrade)

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Frequently Asked Questions

What are the major products exported by Chile in 2023 Sep?

Chile's top exports in September 2023 were ores, slag, and ash (34.53% of exports, $2.49B), copper and articles thereof (22.38%, $1.61B), and fish/crustaceans (7.59%, $546.62M), based on HS code data.

What are the main products Chile imports in 2023 Sep?

Chile primarily imported mineral fuels/oils (20.45%, $1.40B), machinery (13.64%, $933.09M), and vehicles (9.21%, $630.02M) in September 2023, per HS code analysis.

Which countries are the top destinations for Chile's exports in 2023 Sep?

The leading export destinations were Mainland China (23.48%, $1.61B), the United States (21.17%, $1.45B), and Brazil (8.08%, $552.73M), according to country trade data.

Which countries supply most of Chile's imports in 2023 Sep?

Mainland China dominated Chile's imports (44.35%, $3.19B), followed by the United States (13.92%, $1.00B) and Japan (5.57%, $401.03M), as per country-level statistics.

How balanced are Chile's export and import markets in 2023 Sep?

Chile recorded a $360M trade surplus in September 2023, driven by a 22.8% import slump ($6.84B) outweighing a milder 4.6% export decline ($7.20B), reflecting domestic demand contraction.