Chile - Argentina Trade 2024 Q2: Energy Dependency Deepens
Key Market Takeaways: Chile - Argentina Trade
The bilateral trade relationship between Chile and Argentina remains heavily skewed toward imports, with Chile running a significant deficit in Q2 2024.
- Economic Pulse: Chile posted a -$1.45B trade deficit with Argentina, driven by $1.63B in imports (up 14.9–18.22% YoY) versus $178.44M in exports (declining YoY).
- Exchange Structure: Chile - Argentina trade statistics reveal a resource-for-resource exchange—Chile supplies copper (16.2% of exports) while relying on Argentine mineral fuels (44.78% of imports).
- Strategic Interdependence: The partnership reflects energy security dependency for Chile, with low-value-add trade dominating both sides.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-Argentina Trade Trend in Q2 2024
Chile Export Performance: Shipments to Argentina
- Total Volume: $178.44M in Q2 2024.
- Growth Trend & Context:
- YoY decline persisted across all months, with May (-32.73%) showing the sharpest drop.
- No specific trade news to explain the contraction.
- Key Volatility: May saw a 17.42% MoM surge, but June reversed with a -17.82% drop.
Chile Import Performance: Sourcing from Argentina
- Total Volume: $1.63B in Q2 2024.
- Growth Trend & Context:
- YoY growth remained positive (14.9%–18.22%) despite monthly volatility.
- Key Volatility: May peaked at $622.11M (+20.65% MoM), while June fell to $495.17M (-20.4% MoM).
Chile - Argentina Trade Balance & Market Dynamics
- Net Position: Chile ran a trade deficit of -$1.45B (Imports exceeded exports).
- Relationship Status: Heavy reliance on Argentine imports, with exports playing a marginal role.
Chile Import Trend from Argentina 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 515.64M | -19.21% | 18.22% |
| May | 622.11M | 20.65% | 17.93% |
| Jun | 495.17M | -20.4% | 14.9% |
| Total | 1.63B | - | - |
Chile Export Trend to Argentina 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 56.84M | -3.08% | -27.56% |
| May | 66.74M | 17.42% | -32.73% |
| Jun | 54.85M | -17.82% | -8.81% |
| Total | 178.44M | - | - |
Get Historical Chile Argentina Trade Records
Chile-Argentina Top Trading Products in Q2 2024
Chile Export Profile: What Does Chile Sell to Argentina
- Top Commodity: Rank #1 export is HS Code 74 (Copper and articles thereof) at 16.20% of total exports to Argentina.
- Demand Driver: Argentina likely uses these copper products for industrial processing, given their raw material nature.
- Concentration: No single category dominates; the top export (copper) holds a moderate share, indicating diversified trade.
Chile Import Profile: What Does Chile Buy from Argentina
- Top Commodity: Rank #1 import is HS Code 27 (Mineral fuels, oils) at 44.78% of total imports from Argentina.
- Dependency Nature: This suggests energy security dependency, as Chile relies heavily on Argentina for fuel supplies.
Chile - Argentina Trade Relationship Dynamics
- The Exchange Model: Resource-for-Resource Complementarity. Chile exports industrial raw materials (copper) while importing energy (mineral fuels) from Argentina.
- Value Chain Position: Both sides trade primarily raw materials, indicating a balanced, low-value-add exchange with neither side clearly dominating in complexity.
Import Analysis by Product: Argentina to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 731.22M | 44.78% |
| 23 | 116.18M | 7.11% |
| 15 | 115.51M | 7.07% |
| 10 | 100.47M | 6.15% |
| 87 | 92.25M | 5.65% |
| 02 | 33.37M | 2.04% |
| 11 | 29.95M | 1.83% |
| 39 | 29.24M | 1.79% |
| 17 | 28.17M | 1.73% |
| 04 | 24.61M | 1.51% |
Export Analysis by Product: Chile to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 28.91M | 16.20% |
| 84 | 14.39M | 8.07% |
| 39 | 13.21M | 7.40% |
| 28 | 8.76M | 4.91% |
| 08 | 8.39M | 4.70% |
| 48 | 8.11M | 4.55% |
| 73 | 7.13M | 3.99% |
| 87 | 6.54M | 3.66% |
| 20 | 5.85M | 3.28% |
| 23 | 5.70M | 3.19% |
Check Detailed Chile-Argentina Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Chile-Argentina Trade
Chile’s trade deficit with Argentina is likely to persist in Q3 2024, driven by continued reliance on Argentine mineral fuels and weak export recovery. The volatility in monthly trade flows suggests exporters should brace for further unpredictability, particularly in copper shipments. However, Argentina’s steady demand for Chilean raw materials could stabilize exports if industrial activity rebounds. Long-term, Chile must reduce energy dependency to rebalance trade dynamics.
Strategic Moves for Traders & Policymakers
- Diversify Energy Imports: Chile should accelerate partnerships with alternative fuel suppliers to mitigate overreliance on Argentina.
- Boost Export Competitiveness: Chilean copper exporters must secure long-term contracts with Argentine buyers to stabilize demand amid fluctuating volumes.
- Monitor Trade Policy Shifts: Traders should track potential Argentine regulatory changes, especially in energy exports, to preempt supply disruptions.
Frequently Asked Questions
How did Chile - Argentina trade perform in 2024 Q2?
Chile's exports to Argentina totaled $178.44M, showing a YoY decline, while imports from Argentina reached $1.63B, with positive YoY growth.
What are the top exports from Chile to Argentina?
The top export from Chile to Argentina is HS Code 74 (Copper and articles thereof), accounting for 16.20% of total exports.
What does Chile import from Argentina?
Chile's top import from Argentina is HS Code 27 (Mineral fuels, oils), making up 44.78% of total imports.
What is the trade balance between Chile and Argentina?
Chile recorded a trade deficit of -$1.45B with Argentina in Q2 2024, as imports significantly exceeded exports.
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.
Chile - Argentina Trade 2024 Q4: Deficit & Energy Dependence
Chile's trade deficit with Argentina hit $1.67B in Q4 2024, driven by energy imports. Explore Chile-Argentina trade trends and top trading products via yTrade data.
