2024 Jun Chile Global Trade Data Summary: Widening Surplus

Chile 2024 Jun Trade Data Key Takeaways

• Market Trend: Chile trade data shows exports down 2.3% YoY, imports plummet 9.8%, widening surplus to $1.53B.
• Key Driver: Chile import export data reveals copper and ores dominate exports (58.5%), while fuels and machinery lead imports.
• Strategic Risk: Over 50% export reliance on China/US exposes Chile to commodity price shocks and demand shifts.

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

Chile 2024 Jun Trade Data Trend Overview

• Chile, a leading copper and lithium exporter, posted mixed June 2024 results in its latest global trade data, reflecting its role as a key commodity supplier to global supply chains.
• The Chile import export data for June shows exports of $7.68B, a 2.3% annual contraction, while imports fell more sharply to $6.15B, a 9.8% year-on-year decline.
• This resulted in a monthly trade surplus of $1.53B, widening significantly from the year-ago period on the back of a steeper drop in import demand.
• The import slump, a primary driver of the surplus, aligns with domestic economic and political uncertainty noted as a primary market challenge for the year, which weighed on consumer and business spending [Chile - Market Challenges].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Chile Trade Data

Chile 2024 Jun Top Trading Products

Chile Global Trade Core Summary

Chile's exports are heavily resource-driven, with ores, copper, and fish making up over 65% of total exports. The top two categories—ores (36.5%) and copper (22%)—dominate, showing high concentration in raw materials. Imports are more diverse, led by mineral fuels (17.9%) and machinery (13%), reflecting reliance on energy and industrial equipment. The trade structure highlights Chile's role as a raw material supplier while needing advanced manufactured goods.

Key takeaways:

• Exports are concentrated in minerals and agriculture, posing price volatility risks.
• Imports focus on energy, machinery, and vehicles, showing industrial dependency.
• Limited high-value export diversification signals room for upgrading.

Chile Export-Import Structural Gap

Chile exports raw materials like ores and copper but imports machinery, vehicles, and fuels—a classic resource economy pattern. The lack of overlap in top HS codes confirms minimal processing trade. Heavy machinery imports suggest underdeveloped manufacturing, while fuel dependence raises energy security concerns. This gap points to opportunities in local processing or light manufacturing to add value to raw exports. The trade imbalance leans toward importing higher-value goods, a challenge for long-term growth.

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

Check Detailed Chile Trade HS Code Breakdown

Chile 2024 Jun Top Trading Countries

Chile Global Trade Key Patterns

Chile's exports show strong concentration, with Mainland China (33%) and the US (20%) accounting for over half of total shipments. Japan, Brazil, and South Korea are secondary markets, each holding 5–8% shares. Imports also rely heavily on China (25%) and the US (18%), but sourcing is more diversified, with Argentina (8%) and Brazil (8%) as key regional suppliers. Europe (Germany, Spain, Italy) represents a smaller but consistent import share. Key takeaways:

• Top 2 export markets (China, US) dominate at 53% combined.
• Imports show broader supplier base despite China/US leadership.
• Latin America (Brazil, Argentina, Peru, Mexico) features in both export and import flows.

Chile Export–Import Geographic Gap

Exports are heavily skewed toward Asia (China, Japan, South Korea) and North America, while imports draw more evenly from Latin America and Europe. China and the US appear in both top export and import lists, suggesting two-way trade. The structure indicates downstream dependence on a few large buyers (especially China) but upstream sourcing from a wider set of suppliers. Regional neighbors like Brazil, Argentina, and Peru play notable roles in both directions, highlighting intra-Latin American trade links.

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 Jun?

Chile's top exports in June 2024 were ores, slag, and ash (36.54% of exports, $2.80B), copper and articles thereof (22.00%, $1.69B), and fish/crustaceans (6.82%, $523.59M), based on HS code data.

What are the main products Chile imports in 2024 Jun?

Chile's primary imports included mineral fuels/oils (17.93%, $1.10B), machinery (13.05%, $802.99M), and vehicles (10.02%, $616.43M), according to HS code classifications.

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

Mainland China (25.23%, $1.55B), the United States (18.22%, $1.12B), and Argentina (8.05%, $495.17M) were Chile's leading export destinations in June 2024.

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

Chile's imports were dominated by Mainland China (32.98%, $2.53B), the United States (19.57%, $1.50B), and Japan (8.46%, $649.40M) in June 2024.

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

Chile recorded a $1.53B trade surplus in June 2024, with exports ($7.68B) exceeding imports ($6.15B). Both declined year-on-year, but imports fell more sharply (-9.8%) than exports (-2.3%).