2024 Q4 Chile Global Trade Data Summary: Copper-Driven Surge

Chile 2024 Q4 Trade Data Key Takeaways

• Market Trend: Chile trade data shows volatile Q4 with exports surging 18.6% MoM in December, imports up 6.9%, driven by copper demand.
• Key Driver: Chile import export data reveals 40.3% exports flow to China, with ores and copper dominating 56% of outbound trade.
• Strategic Risk: Export concentration in raw materials leaves Chile exposed to commodity swings and Asian demand shifts.

Analysis covers 2024 Q4 based on sanitized customs records from the yTrade database.

Chile 2024 Q4 Trade Data Trend Overview

• Chile, a major commodities exporter and Latin America's most open economy, closed Q4 with volatile yet resilient Chile global trade data, reflecting its dual dependence on mining exports and manufactured imports amid shifting global alliances.
• The latest Chile import export data shows exports surging 18.6% month-on-month to $9.42B in December, though full-quarter performance was mixed with a sharp November dip; imports grew 6.9% to $7.58B in December, indicating recovering domestic demand after a mid-quarter contraction.
• This flow generated a solid quarterly trade surplus of $1.84B, reinforcing Chile's structural position as a net exporter despite global headwinds.
• The rebound was likely fueled by strategic tariff insulation for critical minerals like copper and deeper integration with the EU following their new trade pact, cushioning the economy from broader trade tensions [Joint Statement following the EU-Chile Trade Council].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Chile Trade Data

Chile 2024 Q4 Top Trading Products

Chile Global Trade Core Summary

Chile's exports are heavily resource-driven, with ores, copper, and agricultural products dominating. The top two export categories—ores (37.05%) and copper (19.36%)—account for over half of total exports, showing high concentration. Fish, fruits, and wood products add diversity but remain raw or minimally processed. Imports are more varied, led by mineral fuels (15.78%), machinery (12.74%), and vehicles (10.52%), reflecting reliance on foreign manufacturing and energy.

Key takeaways:

• Exports depend on raw materials, exposing Chile to commodity price swings.
• Imports focus on machinery and fuel, indicating industrial and energy needs.
• Limited high-value exports suggest untapped processing opportunities.

Chile Export-Import Structural Gap

Chile exports raw materials but imports finished goods, highlighting a classic resource-based economy. Copper and ores dominate exports, while machinery, vehicles, and electronics lead imports—a clear gap in industrial capacity. The overlap in mineral fuels (exported and imported) hints at refining or energy trade complexities. To reduce dependency, Chile could invest in processing its raw materials domestically before export. The trade structure shows potential for industrial upgrading but lacks high-value export diversification.

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

Check Detailed Chile Trade HS Code Breakdown

Chile 2024 Q4 Top Trading Countries

Chile Global Trade Key Patterns

Chile's exports are highly concentrated, with Mainland China accounting for 40.3% ($10.46B) of total shipments. The U.S. (14.9%, $3.87B) and Japan (9.3%, $2.40B) are distant second and third markets, followed by Brazil (4.7%) and South Korea (3.6%). Imports show slightly more diversification, though Mainland China (26.6%, $5.97B) and the U.S. (16.9%, $3.78B) dominate. Argentina (8.7%) and Brazil (8.7%) are key regional suppliers.

• Exports heavily rely on China, with the top 3 markets absorbing 64.5% of shipments.
• Imports are less concentrated but still depend on China and the U.S. for 43.5% of inbound trade.
• Regional trade ties are strong, with Brazil, Argentina, and Peru appearing in both export and import lists.
• No single-supplier risk in imports, but export market concentration poses vulnerability.

Chile Export–Import Geographic Gap

Chile’s exports are more concentrated than imports, with China alone taking 40% of outbound goods. While imports also lean on China and the U.S., they show broader sourcing from Latin America (Argentina, Brazil, Peru) and Europe (Germany, Spain). Overlapping trade partners like Brazil, Peru, and Spain suggest regional processing or re-export activity. The structure indicates downstream dependence on a few major buyers but relatively diversified upstream supply chains. This gap highlights Chile’s export exposure to Asian demand shifts.

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 Q4?

Chile's top exports in Q4 2024 were ores, slag, and ash (37.05%, $9.62B), copper and articles thereof (19.36%, $5.03B), and edible fruit and nuts (7.98%, $2.07B), as per HS code data.

What are the main products Chile imports in 2024 Q4?

Chile primarily imported mineral fuels and oils (15.78%, $3.54B), machinery (12.74%, $2.85B), and vehicles (10.52%, $2.36B) in Q4 2024, based on HS code analysis.

Which countries are the top destinations for Chile's exports in 2024 Q4?

Mainland China (26.63%, $5.97B), the United States (16.85%, $3.78B), and Argentina (8.74%, $1.96B) were Chile's leading export markets in Q4 2024, according to country trade data.

Which countries supply most of Chile's imports in 2024 Q4?

Chile's imports were dominated by Mainland China (40.29%, $10.46B), the United States (14.92%, $3.87B), and Japan (9.25%, $2.40B) in Q4 2024, per country trade figures.

How balanced are Chile's export and import markets in 2024 Q4?

Chile maintained a trade surplus of $1.84B in Q4 2024, with exports rebounding 18.6% in December, supported by strong mineral exports and EU trade integration, as noted in the trend analysis.

Detailed Monthly Report

Chile Trade Data Snapshot 2024 OCT

Chile Trade Data Snapshot 2024 NOV

Chile Trade Data Snapshot 2024 DEC