Chile - Argentina Trade 2024 Whole Year: Deficit-Driven Energy Dependence
Key Market Takeaways: Chile - Argentina Trade
The bilateral trade relationship between Chile and Argentina is marked by heavy reliance on Argentine imports, with exports playing a marginal role in 2024.
- Deficit-Driven Trade: Chile posted a $6.36B trade deficit ($7.20B imports vs. $842.84M exports), reflecting deep dependence on Argentine goods despite volatile export rebounds.
- Resource-for-Resource Exchange: Chile - Argentina trade statistics show complementary flows—Chile exports processed copper (11.87% share) while importing Argentine mineral fuels (45.93% share), highlighting energy security ties.
- Asymmetric Interdependence: Argentina holds leverage as Chile’s critical energy supplier, while Chilean exports remain fragmented and secondary.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-Argentina Trade Trend in Whole Year 2024
Chile Export Performance: Shipments to Argentina
- Total Volume: $842.84M in 2024.
- Growth Trend & Context:
- YoY trends were predominantly negative for the first half of the year (e.g., -45.29% in March), rebounding sharply in Q4 (e.g., +93.14% in November).
- No specific trade news or policy changes were cited to explain these fluctuations.
- Key Volatility: November saw the highest MoM surge (+22.71%), while December recorded the steepest drop (-28.81%).
Chile Import Performance: Sourcing from Argentina
- Total Volume: $7.20B in 2024.
- Growth Trend & Context:
- YoY growth remained positive throughout, peaking at +60.44% in July.
- No external events were linked to the data.
- Key Volatility: July had the highest MoM jump (+52.8%), while June and April saw significant declines (-20.4% and -19.21%, respectively).
Chile - Argentina Trade Balance & Market Dynamics
- Net Position: Chile ran a trade deficit of $6.36B (Imports $7.20B > Exports $842.84M).
- Relationship Status: Heavy reliance on Argentine imports, with exports playing a marginal role in bilateral trade.
Chile Import Trend from Argentina 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 477.21M | -1.89% | 22.61% |
| Feb | 474.19M | -0.63% | 15.25% |
| Mar | 638.22M | 34.59% | 32.39% |
| Apr | 515.64M | -19.21% | 18.22% |
| May | 622.11M | 20.65% | 17.93% |
| Jun | 495.17M | -20.4% | 14.9% |
| Jul | 756.63M | 52.8% | 60.44% |
| Aug | 671.51M | -11.25% | 14.66% |
| Sep | 595.37M | -11.34% | 25.77% |
| Oct | 702.97M | 18.07% | 37.36% |
| Nov | 632.99M | -9.95% | 21.18% |
| Dec | 621.59M | -1.8% | 27.79% |
| Total | 7.20B | - | - |
Chile Export Trend to Argentina 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 51.67M | -1.59% | -11.63% |
| Feb | 53.02M | 2.62% | -26.88% |
| Mar | 58.65M | 10.61% | -45.29% |
| Apr | 56.84M | -3.08% | -27.56% |
| May | 66.74M | 17.42% | -32.73% |
| Jun | 54.85M | -17.82% | -8.81% |
| Jul | 76.89M | 40.18% | 8.55% |
| Aug | 62.65M | -18.52% | -23.07% |
| Sep | 68.45M | 9.25% | 17.7% |
| Oct | 94.52M | 38.09% | 13.75% |
| Nov | 115.99M | 22.71% | 93.14% |
| Dec | 82.57M | -28.81% | 57.25% |
| Total | 842.84M | - | - |
Get Historical Chile Argentina Trade Records
Chile-Argentina Top Trading Products in Whole Year 2024
Chile Export Profile: What Does Chile Sell to Argentina
- Top Commodity: Copper and articles thereof (HS 74) dominates with 11.87% share.
- Demand Driver: Argentina likely uses these for industrial processing, given copper's role in manufacturing and construction.
- Concentration: No single category dominates; exports are diversified across multiple sectors.
Chile Import Profile: What Does Chile Buy from Argentina
- Top Commodity: Mineral fuels (HS 27) account for 45.93% of imports, indicating heavy reliance.
- Dependency Nature: Energy security dependency, as Argentina supplies nearly half of Chile's mineral fuel imports.
Chile - Argentina Trade Relationship Dynamics
- The Exchange Model: Resource-for-Resource Complementarity. Chile exports industrial metals (copper) while importing energy (mineral fuels) from Argentina.
- Value Chain Position: Chile holds a higher value-add position with processed copper exports, while Argentina supplies raw or semi-processed energy products.
Import Analysis by Product: Argentina to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 3.31B | 45.93% |
| 10 | 606.22M | 8.42% |
| 15 | 479.29M | 6.65% |
| 87 | 398.03M | 5.53% |
| 23 | 395.66M | 5.49% |
| 02 | 175.78M | 2.44% |
| 17 | 150.89M | 2.09% |
| 39 | 119.56M | 1.66% |
| 04 | 115.93M | 1.61% |
| 11 | 110.29M | 1.53% |
Export Analysis by Product: Chile to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 100.02M | 11.87% |
| 08 | 79.63M | 9.45% |
| 84 | 76.70M | 9.10% |
| 39 | 57.46M | 6.82% |
| 27 | 55.09M | 6.54% |
| 87 | 33.26M | 3.95% |
| 73 | 31.61M | 3.75% |
| 48 | 31.21M | 3.70% |
| 20 | 30.66M | 3.64% |
| 03 | 27.80M | 3.30% |
Check Detailed Chile-Argentina Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Chile’s trade deficit with Argentina is expected to persist in 2025, driven by continued reliance on Argentine mineral fuels (HS 27) and limited export diversification. However, the rebound in copper exports (HS 74) late in 2024 suggests potential for growth if Chile capitalizes on Argentina’s industrial demand. Volatility in monthly trade flows indicates sensitivity to unobserved factors—possibly currency fluctuations or supply chain disruptions—requiring close monitoring. Traders should anticipate tighter margins in energy imports while exploring opportunities in Chile’s niche export sectors.
Strategic Moves
- Diversify Energy Suppliers: Reduce dependency on Argentine mineral fuels by securing alternative sources (e.g., LNG from the U.S. or regional partners) to mitigate price and supply volatility.
- Expand Copper Value-Add: Chilean exporters should push higher-value processed copper products (e.g., wires, alloys) to capture more margin in Argentina’s manufacturing sector.
- Lock In Forward Contracts: Given erratic monthly swings, importers and exporters should hedge currency and commodity risks through fixed-price agreements to stabilize cash flows.
Frequently Asked Questions
How did Chile - Argentina trade perform in 2024 Whole Year?
Chile exported $842.84M to Argentina, with volatile YoY trends, while imports from Argentina totaled $7.20B, showing consistent growth.
What are the top exports from Chile to Argentina?
Copper and articles thereof (HS 74) dominated Chile's exports to Argentina, accounting for 11.87% of total shipments.
What does Chile import from Argentina?
Mineral fuels (HS 27) were the top import, making up 45.93% of Chile's total imports from Argentina.
What is the trade balance between Chile and Argentina?
Chile ran a trade deficit of $6.36B with Argentina, driven by heavy reliance on Argentine mineral fuel imports.
Chile - Argentina Trade 2023 Whole Year: Deep Import Dependency
Chile's trade deficit with Argentina hit $4.85B in 2023, driven by energy imports. Explore Chile Argentina trade trends and top trading products via yTrade data.
Chile - Argentina Trade 2024 Q1: Widening Deficit
Chile's trade deficit with Argentina hit $1.43B in Q1 2024, fueled by surging fuel imports and declining metal exports. Explore Chile-Argentina trade trends and top trading products on yTrade.
