2024 Whole Year Chile Global Trade Data Summary: Export Surge & Risks

Chile 2024 Trade Data Key Takeaways

• Market Trend: Chile trade data shows exports surged 4.38% YoY in December, capping a resilient year with a $13.38B surplus.
• Key Driver: Chile import export data reveals copper (19.7%) and ores (35.4%) dominate exports, while China absorbs 38.17% of shipments.
• Strategic Risk: Over-reliance on raw-material exports and China exposes economy to commodity price swings and demand shocks.

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

Chile 2024 Trade Data Overview

• Chile, a globally integrated commodity exporter, saw its 2024 trade flows reflect its role as a key supplier of copper and agricultural products, with the annual Chile global trade data showing resilience amid global demand shifts.
• Annual Chile import export data reveals exports totaled $97.69 billion while imports reached $84.31 billion, with December's export surge of 4.38% year-on-year highlighting a strong year-end performance despite mid-year volatility in monthly flows.
• The economy maintained a robust trade surplus of $13.38 billion for the year, underpinned by sustained external demand for its core mineral and resource shipments.
• Export strength was supported by elevated copper prices and the implementation of new trade agreements, including the Pacific Alliance-Singapore FTA, which bolstered market access for Chilean goods [Chile - Trade Agreements].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Chile Trade Data

Chile 2024 Top Trading Products

Chile Global Trade Core Summary

Chile's exports are heavily resource-driven, with ores, copper, and edible fruits making up over 60% of total exports. The top two categories—ores (35.4%) and copper (19.7%)—highlight a strong reliance on mining. Agricultural and seafood products, like fruits (8.8%) and fish (7.4%), add diversity but reinforce a raw-material export profile. Imports, however, lean toward industrial goods, with mineral fuels (18.9%), machinery (12.4%), and vehicles (9.4%) dominating. This shows Chile depends on foreign machinery and energy to support its economy.

Key takeaways:

• Exports are concentrated in mining and agriculture, posing risks if commodity prices drop.
• High import reliance on machinery and fuel signals limited domestic industrial capacity.
• Diversification beyond raw materials could reduce vulnerability to global price swings.

Chile Export-Import Structural Gap

Chile’s trade gap reveals a classic resource economy: it exports raw materials (copper, ores, fish) and imports finished goods (machinery, vehicles, electronics). The lack of overlap in top HS codes suggests minimal processing trade—most exports leave unrefined. This structure points to untapped potential in value-added industries, like refining copper or manufacturing machinery locally. The high import share of fuel also highlights energy dependence, a critical weakness for a mining-heavy economy. Moving beyond raw exports could strengthen Chile’s trade balance and economic resilience.

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

Check Detailed Chile Trade HS Code Breakdown

Chile 2024 Top Trading Countries

Chile Global Trade Key Patterns

Chile's exports show high concentration, with Mainland China alone accounting for 38.17% ($37.82B) of total exports. The top three destinations—China, the U.S. (15.39%, $15.25B), and Japan (8.57%, $8.49B)—make up over 60% of exports, indicating limited diversification. Imports are more balanced, though China (24.89%, $20.98B) and the U.S. (18.94%, $15.97B) dominate, followed by regional partners Brazil (8.78%, $7.40B) and Argentina (8.55%, $7.20B). Key asymmetries include heavier export reliance on China and a broader import base.

• Exports: Top-heavy, Asia-focused (China, Japan, South Korea).
• Imports: More evenly split between Asia, Americas, and Europe.
• Overlap: China, U.S., Brazil, Japan, Peru, Mexico, and Spain appear in both lists, suggesting two-way trade.

Chile Export–Import Geographic Gap

Exports lean heavily on a few Asian and North American markets, while imports draw from a wider mix, including South American neighbors. The overlap in trade partners (e.g., China, Brazil, Peru) points to integrated supply chains, particularly in regional agriculture or mining. Export dependence on China contrasts with import diversification, creating upstream risks but downstream stability. The structure suggests Chile relies on a few key buyers for exports but spreads import risk across multiple suppliers. Trade ties with the Americas (Brazil, Argentina, Mexico) highlight regional economic integration.

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 Whole Year?

Chile's top exports in 2024 were ores/slag/ash (35.38%, $35.05B), copper articles (19.74%, $19.56B), and edible fruits/nuts (8.80%, $8.72B), reflecting its strength in minerals and agriculture.

What are the main products Chile imports in 2024 Whole Year?

Chile primarily imported mineral fuels/oils (18.93%, $15.96B), machinery (12.41%, $10.46B), and vehicles (9.44%, $7.95B), highlighting reliance on energy and industrial goods.

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

Mainland China (24.89%, $20.98B), the U.S. (18.94%, $15.97B), and Brazil (8.78%, $7.40B) were Chile’s leading export markets, demonstrating strong Asian and American trade ties.

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

Chile sourced most imports from Mainland China (38.17%, $37.82B), the U.S. (15.39%, $15.25B), and Japan (8.57%, $8.49B), indicating diversified supplier relationships.

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

Chile maintained a robust $13.38B trade surplus in 2024, with exports ($97.69B) exceeding imports ($84.31B), driven by strong copper and agricultural demand.