2024 Jan Chile Global Trade Data Summary: Copper & Lithium Boom

Chile 2024 Jan Trade Data Key Takeaways

• Market Trend: Chile trade data shows steady 2.7% export growth in Jan 2024, buoyed by copper and lithium demand.
• Key Driver: Chile import export data reveals China dominates 45% of exports, with ores and fruits leading shipments.
• Strategic Risk: Over-reliance on raw material exports and Asian markets exposes Chile to commodity price swings.

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

Chile 2024 Jan Trade Data Trend Overview

• Chile, a globally integrated commodity exporter, posted steady January 2024 trade flows, with its copper and lithium shipments underpinning the Chile global trade data amid stable demand from key Asian markets.
• The Chile import export data for January showed exports of $9.14 billion, rising 2.73% year-on-year, while imports reached $7.00 billion, up 2.29% over the same period, reflecting consistent demand for capital goods and intermediate products.
• This resulted in a monthly trade surplus of $2.14 billion, reinforcing Chile’s structural position as a net exporter driven by mineral resources.
• The expansion was supported by Chile’s broad network of trade agreements and sustained Chinese industrial demand for copper, though economic uncertainty weighed on stronger import growth [OECD].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Chile Trade Data

Chile 2024 Jan Top Trading Products

Chile Global Trade Core Summary

Chile's exports are heavily resource-driven, with ores, edible fruits, and copper making up over 65% of total exports. The top three categories—ores (26.55%), fruits (24.05%), and copper (15.28%)—highlight a reliance on raw materials and agriculture. Imports, however, are dominated by manufactured goods, including machinery (12.45%), vehicles (8.82%), and electrical equipment (8.30%). Mineral fuels (20.04%) are the largest import, reflecting energy dependence.

Key takeaways:

• Exports are concentrated in raw materials, exposing Chile to commodity price swings.
• Imports focus on machinery and energy, indicating industrial and infrastructure needs.
• Limited high-value manufacturing in exports suggests untapped potential for diversification.

Chile Export-Import Structural Gap

Chile’s trade structure shows a clear divide: it exports raw materials but imports finished goods. Ores, fruits, and copper dominate exports, while machinery, vehicles, and fuel lead imports. This gap suggests Chile relies on foreign manufacturing for advanced products. Overlapping categories like meat (exported and imported) hint at mixed trade flows, but the overall pattern points to a resource-based economy with room for industrial upgrading. The lack of high-tech exports highlights a dependency on external suppliers for critical goods.

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

Check Detailed Chile Trade HS Code Breakdown

Chile 2024 Jan Top Trading Countries

Chile Global Trade Key Patterns

Chile's exports show high concentration, with Mainland China alone accounting for 45% of total exports ($4.12B). The top 3 destinations—China, the U.S. (11.5%, $1.05B), and Japan (8.8%, $803M)—make up over 65% of exports, while other markets like South Korea, Brazil, and the Netherlands have smaller shares (1–6%). Imports are more balanced, with China (23.5%, $1.64B) and the U.S. (19.4%, $1.36B) as the top suppliers, followed by Brazil (9.6%, $669M) and Argentina (6.8%, $477M). Key takeaways:

• Export dependence: Heavy reliance on China, with limited diversification.
• Import spread: Broader sourcing, though China and the U.S. dominate.
• Overlap: China, the U.S., Brazil, and Japan appear in both lists, suggesting two-way trade.

Chile Export–Import Geographic Gap

Chile’s exports are heavily skewed toward Asia (China, Japan, South Korea) and North America (U.S.), while imports come more evenly from the Americas (U.S., Brazil, Argentina) and Europe (Germany, Spain). The export structure leans on a few large buyers, whereas imports show moderate diversification. Notably, China is both the top export destination and import source, indicating integrated supply chains. The gap suggests Chile depends on a narrow export base but sources inputs more widely, though still with reliance on key partners like the U.S. and China.

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

Get Complete Chile Trading Patner Countries Profile

Frequently Asked Questions

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

Chile's top exports in January 2024 were ores, slag, and ash (26.55% of total exports), edible fruits and nuts (24.05%), and copper articles (15.28%), according to HS code data.

What are the main products Chile imports in 2024 Jan?

Chile primarily imported mineral fuels and oils (20.04% of total imports), nuclear reactors and machinery (12.45%), and vehicles (8.82%) in January 2024, based on HS code classifications.

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

The leading export destinations for Chile in January 2024 were Mainland China (23.45% of exports), the United States (19.42%), and Brazil (9.56%), as per trade data.

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

Chile's main import sources in January 2024 were Mainland China (45.03% of imports), the United States (11.47%), and Japan (8.78%), according to country trade statistics.

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

Chile recorded a trade surplus of $2.14 billion in January 2024, with exports ($9.14B) exceeding imports ($7.00B), reflecting its strength as a net exporter of mineral resources.