Chile - Bolivia Trade 2023 Q4: Resource Exchange Dominance

Key Market Takeaways: Chile - Bolivia Trade

The bilateral trade relationship between Chile and Bolivia shows strong growth with high volatility in Q4 2023.

• Chile dominates with a $326.79M surplus, driven by exports ($393.52M) nearly six times imports ($66.73M), despite uneven monthly performance.
• Chile - Bolivia trade statistics reveal a resource-for-resource exchange: Chile supplies 50.68% mineral fuels (HS 27) for Bolivia’s energy needs, while Bolivia provides 41.47% agricultural residues (HS 23) for Chilean industrial use.
• Complementary but asymmetric: Chile’s higher-value energy exports contrast with Bolivia’s low-value by-products, reflecting lopsided interdependence.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Chile-Bolivia Trade Trend in Q4 2023

Chile Export Performance: Shipments to Bolivia

• Total Volume: $393.52M in Q4 2023.
• Growth Trend & Context:
  • Strong YoY growth in December (+58.96%) and November (+25.45%), offsetting a slower October (+16.07%).
  • No specific trade news to explain the surge.
• Key Volatility: October saw the highest MoM jump (+34.68%), while November dipped (-6.17%) before rebounding in December (+14.78%).

Chile Import Performance: Sourcing from Bolivia

• Total Volume: $66.73M in Q4 2023.
• Growth Trend & Context:
  • Sharp YoY declines in November (-59.66%) and December (-43.39%), despite a 28.29% rise in October.
• Key Volatility: November recorded the steepest MoM drop (-19.5%), with December recovering partially (+16.2%).

Chile - Bolivia Trade Balance & Market Dynamics

• Net Position: Chile holds a trade surplus of $326.79M (Exports $393.52M vs. Imports $66.73M).
• Relationship Status: Dominant net exporter role, with exports nearly 6x imports. Volatility in Bolivian shipments suggests supply-side constraints.

Chile Import Trend from Bolivia 2023 Q4 (Source: yTrade)**

Chile Export Trend to Bolivia 2023 Q4 (Source: yTrade)**

Get Historical Chile Bolivia Trade Records

Chile-Bolivia Top Trading Products in Q4 2023

Chile Export Profile: What Does Chile Sell to Bolivia

• Top Commodity: Rank #1 export is Mineral fuels (HS 27) at 50.68% of total exports to Bolivia.
• Demand Driver: Bolivia likely imports these for energy needs, either for direct consumption or industrial processing.
• Concentration: Trade is highly concentrated, with mineral fuels alone accounting for over half of exports.

Chile Import Profile: What Does Chile Buy from Bolivia

• Top Commodity: Rank #1 import is Residues from food industries (HS 23) at 41.47% of total imports from Bolivia.
• Dependency Nature: This suggests a reliance on Bolivia for agricultural by-products, possibly for feed or industrial use.

Chile - Bolivia Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Chile exports energy (mineral fuels) while Bolivia supplies agricultural residues and other raw materials.
• Value Chain Position: Chile holds a higher value-add position, exporting processed energy products, while Bolivia’s exports are primarily low-value agricultural by-products.

Import Analysis by Product: Bolivia to Chile (Source: yTrade)

Export Analysis by Product: Chile to Bolivia (Source: yTrade)

Check Detailed Chile-Bolivia Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Chile’s trade surplus with Bolivia is expected to widen further in 2024, driven by sustained demand for mineral fuels (HS 27) and Bolivia’s reliance on Chilean energy exports. However, the sharp decline in Bolivian shipments to Chile—particularly residues from food industries (HS 23)—signals potential supply-side instability. Traders should anticipate continued volatility in Bolivia’s export capacity, making long-term contracts essential for stability. The Chile-Bolivia trade forecast remains bullish for Chilean exporters but requires cautious supply chain planning.

Strategic Moves

• Lock in Energy Contracts: Chilean fuel exporters should secure multi-year agreements with Bolivian buyers to capitalize on their dominant position and hedge against future price fluctuations.
• Diversify Agricultural Imports: Chilean importers must reduce dependency on Bolivian food residues by exploring alternative suppliers in Argentina or Brazil to mitigate supply disruptions.
• Monitor Bolivian Policy Shifts: Given Bolivia’s economic volatility, traders should track potential regulatory changes, such as export restrictions or subsidies, that could impact cross-border trade flows.

Frequently Asked Questions

How did Chile - Bolivia trade perform in 2023 Q4?

Chile's exports to Bolivia grew significantly (+58.96% YoY in December), totaling $393.52M, while imports from Bolivia declined sharply (-43.39% YoY in December), reaching $66.73M.

What are the top exports from Chile to Bolivia?

Mineral fuels (HS 27) dominate Chile's exports to Bolivia, accounting for 50.68% of total shipments, primarily meeting Bolivia's energy needs.

What does Chile import from Bolivia?

Residues from food industries (HS 23) are Chile's top import from Bolivia, making up 41.47% of total imports, likely used for agricultural or industrial purposes.

What is the trade balance between Chile and Bolivia?

Chile holds a trade surplus of $326.79M (exports $393.52M vs. imports $66.73M), maintaining a dominant net exporter role with exports nearly 6x imports.