2024 Dec Chile Global Trade Data Summary: Copper Drives Surge

Chile 2024 Dec Trade Data Key Takeaways

• Market Trend: Chile trade data shows exports surged 18.5% YoY to $9.42B, driven by copper and resilient demand.
• Key Driver: Chile import export data reveals China dominates exports (43.5%), while imports diversify across Americas and Asia.
• Strategic Risk: Heavy reliance on raw-material exports (67% of total) leaves economy exposed to commodity price swings.

Analysis covers 2024 Dec based on sanitized customs records from the yTrade database.

Chile 2024 Dec Trade Data Trend Overview

• Chile, a resource-driven economy and one of Latin America's most open trading nations, closed 2024 with robust activity, as its latest Chile global trade data confirms a strong year-end performance.
• December's Chile import export data showed exports at $9.42 billion, surging 18.5% year-on-year, while imports grew 13.5% to $7.58 billion, reflecting resilient domestic demand and external sales.
• The surge in outbound shipments solidified a substantial monthly trade surplus of $1.84 billion, providing a positive contribution to the current account.
• The export strength was largely driven by elevated copper prices and strong external demand, with the central bank noting that global trade tensions had a limited impact on the economy through 2025 [Summary MP Report June 2025 - Banco Central de Chile].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Chile 2024 Dec Top Trading Products

Chile Global Trade Core Summary

Chile's exports are heavily resource-driven, with ores, copper, and edible fruits making up over 67% of total exports. The top three export categories—ores (34.31%), copper (18.83%), and fruits (14.35%)—highlight a reliance on raw materials and agriculture. Imports are more diversified, led by mineral fuels (14.25%), machinery (13.06%), and vehicles (11.33%), showing a need for industrial and energy inputs. The trade structure reveals a classic resource-exporting economy with high dependence on a few key commodities.

Key takeaways:

• Exports are concentrated in raw materials, posing vulnerability to price swings.
• Imports focus on machinery and fuel, indicating industrial and energy needs.
• Limited high-value manufacturing in exports suggests untapped potential.

Chile Export-Import Structural Gap

Chile exports raw materials like ores and copper but imports machinery, vehicles, and fuel—a clear gap between low-value exports and high-value imports. The lack of overlap in HS codes shows minimal processing trade, with exports staying at the resource stage. This pattern points to an opportunity for Chile to move up the value chain, such as refining copper or producing machinery domestically. The heavy import of fuel also highlights energy dependency. The trade gap underscores Chile’s role as a resource supplier rather than a finished goods producer.

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

Check Detailed Chile Trade HS Code Breakdown

Chile 2024 Dec Top Trading Countries

Chile Global Trade Key Patterns

Chile's exports show strong concentration, with Mainland China taking 43.5% ($4.1B) of total shipments. The U.S. (14.5%, $1.36B) and Japan (9.4%, $883.8M) are distant secondary markets, followed by diversified buyers like Brazil, South Korea, and India. Imports are more balanced, though Mainland China (25.8%, $1.95B) and the U.S. (17.4%, $1.32B) dominate, with regional suppliers Brazil (8.5%) and Argentina (8.2%) playing key roles.

• Exports rely heavily on China, while imports show broader sourcing.
• Asia-Pacific is the top export zone; Americas lead imports.
• Overlap exists with China, U.S., Brazil, and others in both lists.

Chile Export–Import Geographic Gap

Exports lean heavily on a few large markets, while imports draw from a wider mix. China’s dominance as an export destination contrasts with its smaller (though still leading) role as a supplier. The U.S. is a critical partner both ways, but regional Latin American trade is stronger for imports. The structure suggests Chile depends on concentrated export revenue but diversifies supply chains. This points to upstream diversification and downstream reliance on key buyers.

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

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Frequently Asked Questions

What are the major products exported by Chile in 2024 Dec?

Chile's top exports in December 2024 were ores, slag, and ash (34.31% of exports), copper articles (18.83%), and edible fruits/nuts (14.35%), as shown in the HS code breakdown.

What are the main products Chile imports in 2024 Dec?

Chile primarily imported mineral fuels/oils (14.25%), machinery (13.06%), and vehicles (11.33%) in December 2024, according to the HS code data.

Which countries are the top destinations for Chile's exports in 2024 Dec?

Mainland China (25.75% of exports), the United States (17.40%), and Brazil (8.45%) were Chile's leading export destinations in December 2024, per the country trade data.

Which countries supply most of Chile's imports in 2024 Dec?

Mainland China (43.47% of imports), the United States (14.46%), and Japan (9.38%) were Chile's largest import sources in December 2024, based on the country trade table.

How balanced are Chile's export and import markets in 2024 Dec?

Chile recorded a $1.84 billion trade surplus in December 2024, with exports ($9.42B) growing 18.5% and imports ($7.58B) rising 13.5% year-on-year, reflecting strong external demand and resilient domestic activity.