Chile - India Trade 2023 Whole Year: $170M Surplus
Key Market Takeaways: Chile - India Trade
The bilateral trade relationship between Chile and India is marked by volatility and a net surplus for Chile in 2023.
- Economic Pulse: Chile posted a $170M trade surplus with India ($1.51B exports vs. $1.34B imports), despite erratic monthly swings in both directions.
- Exchange Structure: Chile - India trade statistics reveal a resource-for-tech complementarity—Chile supplies ores (55.6% of exports) while India exports vehicles (26% of imports) and other manufactured goods.
- Strategic Interdependence: The partnership hinges on raw material demand from India’s industrial sector and Chile’s reliance on Indian finished products, creating a stable but lopsided trade dynamic.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-India Trade Trend in Whole Year 2023
Chile Export Performance: Shipments to India
- Total Volume: $1.51B in exports to India in 2023.
- Growth Trend & Context:
- Volatile YoY performance, with spikes like +538.96% in November and +600% in April, but sharp drops like -55.24% in May and -16.28% in October.
- No specific news to contextualize the swings.
- Key Volatility: March saw a 443.02% MoM surge, while February and July had steep declines (-69.91% and -66.57% MoM, respectively).
Chile Import Performance: Sourcing from India
- Total Volume: $1.34B in imports from India in 2023.
- Growth Trend & Context:
- Predominantly negative YoY trends, with April (-37.18%) and August (-35.57%) as low points. October (+54.56%) and November (+30.49%) were exceptions.
- Key Volatility: October recorded a 65.57% MoM jump, while June and November saw drops exceeding -20% MoM.
Chile - India Trade Balance & Market Dynamics
- Net Position: Chile held a trade surplus of $170M (Exports: $1.51B > Imports: $1.34B).
- Relationship Status: Chile maintains a net exporter role, though import volatility suggests shifting demand or supply chain adjustments.
Chile Import Trend from India 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 104.21M | -21.26% | 1.63% |
| Feb | 109.53M | 5.1% | 5.3% |
| Mar | 91.63M | -16.35% | -26.05% |
| Apr | 89.25M | -2.6% | -37.18% |
| May | 118.65M | 32.95% | -8.9% |
| Jun | 93.21M | -21.44% | -32.67% |
| Jul | 126.68M | 35.92% | 0.0% |
| Aug | 100.88M | -20.37% | -35.57% |
| Sep | 103.01M | 2.11% | -19.04% |
| Oct | 170.55M | 65.57% | 54.56% |
| Nov | 118.23M | -30.68% | 30.49% |
| Dec | 115.02M | -2.71% | -13.09% |
| Total | 1.34B | - | - |
Chile Export Trend to India 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 144.90M | 95.37% | -11.24% |
| Feb | 43.60M | -69.91% | 95.58% |
| Mar | 236.78M | 443.02% | 32.71% |
| Apr | 116.58M | -50.76% | 600.0% |
| May | 50.62M | -56.58% | -55.24% |
| Jun | 213.46M | 321.7% | 334.02% |
| Jul | 71.36M | -66.57% | 0.0% |
| Aug | 83.07M | 16.41% | -31.75% |
| Sep | 118.00M | 42.05% | 0.75% |
| Oct | 104.80M | -11.19% | -16.28% |
| Nov | 174.11M | 66.13% | 538.96% |
| Dec | 148.51M | -14.71% | 100.24% |
| Total | 1.51B | - | - |
Get Historical Chile India Trade Records
Chile-India Top Trading Products in Whole Year 2023
Chile Export Profile: What Does Chile Sell to India
- Top Commodity: Rank #1 export is HS Code 26 (Ores, slag, and ash) at 55.60% of total exports to India.
- Demand Driver: India uses these raw materials for industrial processing, likely in steel and metal production.
- Concentration: Trade is highly concentrated, with HS Code 26 alone accounting for over half of exports.
Chile Import Profile: What Does Chile Buy from India
- Top Commodity: Rank #1 import is HS Code 87 (Vehicles) at 25.99% of total imports from India.
- Dependency Nature: Reflects a mix of consumer goods (vehicles, machinery) and industrial inputs (pharmaceuticals, textiles).
Chile - India Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Chile supplies raw materials (ores, copper) while India exports manufactured goods (vehicles, machinery, pharmaceuticals).
- Value Chain Position: India holds the higher value-add position, exporting finished products, while Chile primarily provides raw materials.
Import Analysis by Product: India to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 348.42M | 25.99% |
| 30 | 176.26M | 13.14% |
| 84 | 160.69M | 11.98% |
| 85 | 126.86M | 9.46% |
| 15 | 50.78M | 3.79% |
| 29 | 50.52M | 3.77% |
| 63 | 42.18M | 3.15% |
| 73 | 30.48M | 2.27% |
| 42 | 28.16M | 2.10% |
| 56 | 23.85M | 1.78% |
Export Analysis by Product: Chile to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 837.27M | 55.60% |
| 74 | 224.90M | 14.94% |
| 08 | 163.46M | 10.86% |
| 28 | 107.73M | 7.15% |
| 47 | 61.54M | 4.09% |
| 72 | 46.62M | 3.10% |
| 27 | 16.28M | 1.08% |
| 76 | 10.71M | 0.71% |
| 12 | 9.57M | 0.64% |
| 48 | 8.86M | 0.59% |
Check Detailed Chile-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Chile’s trade with India is expected to remain volatile in the near term, driven by fluctuating demand for raw materials (ores, slag, and ash) and India’s shifting import patterns for manufactured goods. However, the Chile-India trade forecast suggests long-term growth potential, given India’s industrial reliance on Chilean minerals and Chile’s demand for Indian vehicles and machinery. Traders should anticipate short-term price swings but prepare for sustained resource-for-tech exchanges.
Strategic Moves
- Lock in Long-Term Ore Contracts: Chilean exporters must secure multi-year agreements with Indian steel producers to stabilize revenue amid volatile demand cycles.
- Diversify Export Markets for Vehicles: Indian automakers should target Chile’s growing consumer base while exploring other Latin American markets to reduce dependency on a single trade partner.
- Optimize Logistics for Bulk Commodities: Both nations should invest in streamlined shipping routes for ores and finished goods to cut costs and improve delivery reliability.
Frequently Asked Questions
How did Chile - India trade perform in 2023 Whole Year?
Chile exported $1.51B to India and imported $1.34B, with volatile growth trends in both directions. Chile maintained a trade surplus of $170M in 2023.
What are the top exports from Chile to India?
The top export from Chile to India is HS Code 26 (Ores, slag, and ash), accounting for 55.60% of total exports, primarily used in industrial processing.
What does Chile import from India?
Chile's top import from India is HS Code 87 (Vehicles), making up 25.99% of total imports, alongside machinery, pharmaceuticals, and textiles.
What is the trade balance between Chile and India?
Chile held a trade surplus of $170M in 2023, exporting more to India than it imported, reflecting a net exporter role.
Chile Hydrazine Salts HS2825 Export Data 2025 September Overview
Chile Hydrazine Salts (HS Code 2825) Export to South Korea dominated 55.81% of value at 7.78 USD/kg, with niche markets like Netherlands reaching 36.55 USD/kg, per yTrade data.
Chile - India Trade 2023 Q1: Resource-for-Tech Boom
Chile's $119.91M trade surplus with India highlights a resource-for-tech exchange, with ores and vehicles driving Chile India trade trends. Verified by yTrade data.
