Chile - Brazil Trade 2025 Q1: Resilient Resource Exchange

Key Market Takeaways: Chile - Brazil Trade

The bilateral trade relationship between Chile and Brazil shows resilience amid volatility in Q1 2025.

• Economic Pulse: Chile posted a $370M trade deficit with Brazil ($1.58B imports vs. $1.21B exports), though exports rebounded sharply after a mid-quarter dip.
• Exchange Structure: Chile - Brazil trade statistics reveal a resource-for-resource complementarity—Chile supplies copper (44% of exports) while importing Brazilian mineral fuels (24%) and meat (19%).
• Strategic Interdependence: The partnership hinges on Chile’s industrial raw materials and Brazil’s energy/food exports, creating mutual but asymmetric dependencies.

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

Chile-Brazil Trade Trend in Q1 2025

Chile Export Performance: Shipments to Brazil

• Total Volume: $1.21B in Q1 2025.
• Growth Trend & Context:
  • YoY growth was strong in January (+16.83%) and March (+16.07%), offsetting a slight dip in February (-0.69%).
  • No specific trade news to explain the volatility.
• Key Volatility: February saw a sharp MoM drop (-19.03%), followed by a rebound in March (+21.29%).

Chile Import Performance: Sourcing from Brazil

• Total Volume: $1.58B in Q1 2025.
• Growth Trend & Context:
  • YoY imports were mixed: February (+3.64%) and March (+7.49%) grew, but January (-32.81%) dragged down the quarter.
• Key Volatility: January’s imports plummeted MoM (-29.93%), then surged in February (+37.6%).

Chile - Brazil Trade Balance & Market Dynamics

• Net Position: Chile ran a trade deficit of $370M (Imports exceeded exports).
• Relationship Status: Chile remains a net importer from Brazil, though export growth shows resilience.

Chile Import Trend from Brazil 2025 Q1 (Source: yTrade)**

Chile Export Trend to Brazil 2025 Q1 (Source: yTrade)**

Get Historical Chile Brazil Trade Records

Chile-Brazil Top Trading Products in Q1 2025

Chile Export Profile: What Does Chile Sell to Brazil

• Top Commodity: Copper (HS 74) dominates exports, accounting for 44.04% of total value.
• Demand Driver: Brazil relies on Chilean copper for industrial processing, likely in construction and electronics manufacturing.
• Concentration: Trade is highly concentrated, with copper alone representing nearly half of exports.

Chile Import Profile: What Does Chile Buy from Brazil

• Top Commodity: Mineral fuels (HS 27) lead imports at 24.47%, followed by meat (HS 02) at 18.85%.
• Dependency Nature: Energy security (mineral fuels) and food supply (meat) are key dependencies, reflecting Brazil’s role as a resource supplier.

Chile - Brazil Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Chile exports industrial raw materials (copper) while importing energy and agricultural goods from Brazil.
• Value Chain Position: Chile holds a higher value-add position in copper exports, while Brazil’s exports are more diversified but less concentrated in high-value categories.

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

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

Check Detailed Chile-Brazil Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Chile’s trade with Brazil is poised for steady growth in Q2 2025, driven by resilient demand for copper and energy resources. The rebound in March exports signals underlying strength, while Brazil’s consistent import appetite for Chilean copper suggests stable industrial demand. However, volatility in mineral fuel imports from Brazil warrants caution, as energy supply chains remain sensitive to global price fluctuations. The trade deficit may persist, but Chile can narrow the gap by capitalizing on its high-value copper exports and exploring new agricultural export opportunities.

Strategic Moves

• Lock in Copper Contracts: Chilean exporters should secure long-term agreements with Brazilian industrial buyers to stabilize revenue and mitigate price swings in the copper market.
• Diversify Energy Sources: Reduce reliance on Brazilian mineral fuels by exploring alternative suppliers or investing in domestic renewable energy infrastructure.
• Expand Agri-Exports: Leverage Chile’s competitive edge in fruits, wine, or seafood to penetrate Brazil’s consumer markets and balance the trade deficit.

Frequently Asked Questions

How did Chile - Brazil trade perform in 2025 Q1?

Chile's exports to Brazil totaled $1.21B, with strong YoY growth in January and March, while imports from Brazil reached $1.58B, showing mixed YoY performance.

What are the top exports from Chile to Brazil?

Copper (HS 74) dominates Chile's exports to Brazil, accounting for 44.04% of total export value.

What does Chile import from Brazil?

Chile primarily imports mineral fuels (HS 27, 24.47%) and meat (HS 02, 18.85%) from Brazil.

What is the trade balance between Chile and Brazil?

Chile recorded a trade deficit of $370M with Brazil in Q1 2025, as imports exceeded exports.