2024 Sep Chile Global Trade Data Summary: Copper Boom Fuels Surplus

Chile 2024 Sep Trade Data Key Takeaways

• Market Trend: Chile trade data shows exports surged 9.0% to $7.85B, imports dropped 4.3%, yielding a $1.30B surplus.
• Key Driver: Chile import export data reveals copper (HS 74) and ores (HS 26) dominate exports, fueled by China (38.4% share).
• Strategic Risk: Overdependence on raw material exports and Chinese demand exposes Chile to commodity price swings.

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

Chile 2024 Sep Trade Data Trend Overview

• Chile, a globally integrated commodity exporter, posted robust trade flows in September 2024, with its export-driven economy supported by extensive trade agreements and copper-led growth.
• The latest Chile import export data shows exports climbed 9.0% year-on-year to $7.85 billion, while imports contracted 4.3% to $6.55 billion, reflecting divergent demand and external sector performance.
• This generated a monthly trade surplus of $1.30 billion, underscoring the economy’s resilience amid global uncertainty and favorable terms of trade for key export commodities.
• Export growth was primarily driven by elevated copper prices and strong external demand, with the Central Bank noting limited spillover from international trade tensions to date [Summary MP Report June 2025].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Chile 2024 Sep Top Trading Products

Chile Global Trade Core Summary

Chile's exports are heavily resource-driven, with ores, slag, and ash (HS 26) making up 40% of total exports, followed by copper (HS 74) at 22%. Fish, edible fruit, and wood products add diversity but remain minor shares. Imports are dominated by fuel (HS 27, 15%) and machinery (HS 84, 14%), alongside vehicles (HS 87, 11%) and electrical equipment (HS 85, 9%). The trade structure shows high export concentration in raw materials and a reliance on imported machinery and fuel.

• Key Takeaways:
  • Exports depend heavily on mining (ores, copper).
  • Imports focus on industrial inputs (fuel, machinery).
  • Limited high-value manufacturing in exports.
  • Food exports (fish, fruit) are secondary but notable.
  • Fuel imports highlight energy dependency.

Chile Export-Import Structural Gap

Chile exports raw materials (ores, copper) but imports finished goods (machinery, vehicles), showing a classic resource-based economy. The lack of overlap in HS codes suggests minimal processing trade. Upgrading to higher-value mineral processing or machinery production could reduce import reliance. The gap highlights Chile’s role as a supplier of raw materials to industrial economies.

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

Check Detailed Chile Trade HS Code Breakdown

Chile 2024 Sep Top Trading Countries

Chile Global Trade Key Patterns

Chile's exports show strong concentration, with Mainland China taking 38.4% ($3.01B) of total shipments. The U.S. (15.0%, $1.18B) and Japan (8.5%, $666M) are secondary hubs, followed by diversified mid-sized markets like Brazil (6.0%) and South Korea (4.0%). Imports are more balanced, though Mainland China (26.3%, $1.72B) and the U.S. (16.8%, $1.10B) dominate, with Argentina (9.1%) and Brazil (7.4%) as key regional suppliers. Key asymmetries:

• Exports rely heavily on China, while imports have broader sourcing.
• Overlapping trade partners (China, U.S., Brazil, Japan, Spain, Mexico) suggest processing trade links.
• Latin America is a stronger import source than export destination.

Chile Export–Import Geographic Gap

Exports lean heavily on China, creating single-market risk, while imports draw from a wider mix of regional (Argentina, Brazil, Peru) and global (U.S., Germany) suppliers. The U.S. is the only top-tier partner for both flows. Export markets are Asia-heavy (China, Japan, South Korea, India), whereas imports show stronger EU (Germany, Spain, Italy) and Latin American ties. The structure implies downstream dependence on Chinese demand but upstream diversification for supply security.

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 Sep?

Chile's top exports in September 2024 were ores, slag, and ash (39.97% of total exports, valued at $3.14B), copper and articles thereof (22.04%, $1.73B), and fish/crustaceans (6.76%, $531.20M), as per HS code data.

What are the main products Chile imports in 2024 Sep?

Chile primarily imported mineral fuels/oils (15.09%, $988.52M), machinery (14.00%, $916.94M), and vehicles (10.54%, $690.18M) in September 2024, based on HS code analysis.

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

Mainland China was the largest export destination (26.30%, $1.72B), followed by the United States (16.81%, $1.10B) and Argentina (9.09%, $595.37M), according to country trade data.

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

Mainland China dominated Chile's imports (38.38%, $3.01B), with the United States (14.99%, $1.18B) and Japan (8.48%, $666.09M) as other key suppliers, per country-level statistics.

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

Chile recorded a $1.30B trade surplus in September 2024, with exports rising 9.0% to $7.85B and imports declining 4.3% to $6.55B, reflecting strong commodity demand and favorable trade terms.