2024 Nov Chile Global Trade Data Summary: Mining Exports Surge

Chile 2024 Nov Trade Data Key Takeaways

• Market Trend: Chile trade data shows exports up 2.7% ($7.94B) and imports rising 3.0% ($7.10B), maintaining an $840M surplus.
• Key Driver: Chile import export data reveals 57.6% of exports from mining (ores + copper), with China taking 41.1% of shipments.
• Strategic Risk: Export concentration in raw materials and China dependency heightens price volatility and demand risks.

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

Chile 2024 Nov Trade Data Trend Overview

• Chile, a major copper and lithium exporter, posted resilient Chile global trade data for November 2024, reflecting its role as a key supplier of industrial and green energy commodities.
• The latest Chile import export data shows exports at $7.94 billion, a 2.7% annual gain, while imports reached $7.10 billion, climbing 3.0% year-on-year.
• This yielded a trade surplus of $840 million, maintaining a positive balance despite global economic headwinds.
• The uptick was likely supported by stable demand for copper, a cornerstone export, and ongoing investment in the mining sector, as noted in the [OECD Economic Outlook].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Chile 2024 Nov Top Trading Products

Chile Global Trade Core Summary

Chile's exports are heavily resource-driven, with ores, slag, and ash (37%) and copper (20.6%) dominating. Fish, fruits, and wood products add diversity but remain raw or minimally processed. Imports focus on energy (16% mineral fuels), machinery (12.2%), and electronics (10.1%), showing reliance on industrial inputs and consumer goods. The economy leans on raw material exports while importing technology and fuel—a classic resource-dependent trade profile.

Key Takeaways:

• 57.6% of exports come from mining (ores + copper), creating price volatility risk.
• Limited high-value export processing (fish, fruits shipped raw).
• Energy imports (16%) highlight domestic supply gaps.

Chile Export-Import Structural Gap

Chile sells raw materials but buys finished goods—ores and copper flow out; machinery, vehicles, and electronics flow in. This gap shows low industrial diversification and reliance on foreign tech. Overlap in mineral fuels (exported at 1.7%, imported at 16%) suggests some domestic refining limits. Moving into processing metals or manufacturing could reduce import dependence. The trade structure fits a resource-rich, industry-light economy.

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

Check Detailed Chile Trade HS Code Breakdown

Chile 2024 Nov Top Trading Countries

Chile Global Trade Key Patterns

Chile's exports show high concentration, with Mainland China alone accounting for 41.1% ($3.26B) of shipments. The U.S. (16.2%, $1.29B) and Japan (6.5%, $516M) are distant secondary markets, while other top destinations like Brazil, South Korea, and Mexico each hold under 5% share. Imports are more balanced, though Mainland China (28.7%, $2.04B) and the U.S. (16.1%, $1.14B) dominate, followed by Argentina (8.9%, $633M) and Brazil (8.2%, $580M). Key asymmetries:

• Exports rely heavily on China, with the top 3 markets taking 64% of shipments.
• Imports source more evenly from 4 key suppliers (China, U.S., Argentina, Brazil) combining for 62%.
• Overlapping trade partners (China, U.S., Brazil, Japan, South Korea, Mexico, Peru) suggest two-way product flows.

Chile Export–Import Geographic Gap

Exports depend critically on China, while imports show moderate diversification among 4 major suppliers. Both flows are intercontinental, with strong Asia-Pacific and Americas links but minimal European presence. The overlap in trade partners hints at processing trade (e.g., raw material imports for re-export). Export markets are riskily concentrated, whereas import sources are more resilient. This structure suggests Chile faces upstream supply stability but downstream demand vulnerability.

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 Nov?

Chile's top exports in November 2024 were ores, slag, and ash (37.00%, $2.94B), copper and articles thereof (20.61%, $1.64B), and fish/crustaceans (8.67%, $688.77M), based on HS code data.

What are the main products Chile imports in 2024 Nov?

Chile primarily imported mineral fuels/oils (16.03%, $1.14B), machinery (12.16%, $862.86M), and electrical equipment (10.11%, $717.37M) in November 2024, per HS code analysis.

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

Mainland China (28.71%, $2.04B), the United States (16.10%, $1.14B), and Argentina (8.92%, $632.99M) were Chile’s leading export markets in November 2024.

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

Chile’s imports were dominated by Mainland China (41.10%, $3.26B), the United States (16.20%, $1.29B), and Japan (6.50%, $516.26M) in November 2024.

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

Chile maintained a trade surplus of $840 million in November 2024, with exports ($7.94B) rising 2.7% and imports ($7.10B) growing 3.0% year-on-year, reflecting stable demand for key commodities like copper.