Chile - India Trade 2024 Whole Year: Explosive Growth & Surplus
Key Market Takeaways: Chile - India Trade
The bilateral trade relationship between Chile and India surged in 2024, marked by explosive growth and volatility.
- Chile holds a $1.28B trade surplus, with exports to India ($2.55B) doubling imports ($1.27B), reflecting strong demand for Chilean raw materials.
- Chile - India trade statistics reveal a resource-for-tech exchange: Chile supplies ores (65% of exports) while India exports vehicles (27% of imports) and machinery.
- Highly complementary economies, with Chile feeding India’s industrial base and India providing finished goods, creating mutual supply chain reliance.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-India Trade Trend in Whole Year 2024
Chile Export Performance: Shipments to India
- Total Volume: $2.55B in 2024.
- Growth Trend & Context:
- Explosive YoY growth in February (+364.42%) and May (+241.51%), likely due to base effects or one-off shipments.
- December saw the highest monthly export value ($279.70M) with a 124.06% MoM surge, signaling strong year-end demand.
- Key Volatility: November recorded a sharp MoM drop (-46.26%), possibly due to seasonal adjustments or inventory cycles.
Chile Import Performance: Sourcing from India
- Total Volume: $1.27B in 2024.
- Growth Trend & Context:
- Volatile YoY performance: March (+28.28%) and December (+39.38%) peaks contrasted with steep declines in February (-39.7%) and May (-38.46%).
- Key Volatility: February imports plummeted 40.61% MoM ($66.04M), the lowest monthly value, while December rebounded with a 49.1% MoM jump ($160.32M).
Chile - India Trade Balance & Market Dynamics
- Net Position: Chile holds a trade surplus of $1.28B (Exports: $2.55B > Imports: $1.27B).
- Relationship Status: Chile is a net exporter to India, with exports doubling imports, indicating strong demand for Chilean goods in the Indian market.
(No relevant trade news or policy changes were reported to explain the trends.)
Chile Import Trend from India 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 111.20M | -3.32% | 6.71% |
| Feb | 66.04M | -40.61% | -39.7% |
| Mar | 117.54M | 77.98% | 28.28% |
| Apr | 113.96M | -3.05% | 27.69% |
| May | 73.01M | -35.93% | -38.46% |
| Jun | 103.05M | 41.13% | 10.56% |
| Jul | 94.95M | -7.86% | -25.05% |
| Aug | 94.22M | -0.76% | -6.6% |
| Sep | 97.38M | 3.35% | -5.47% |
| Oct | 126.42M | 29.82% | -25.88% |
| Nov | 107.53M | -14.95% | -9.05% |
| Dec | 160.32M | 49.1% | 39.38% |
| Total | 1.27B | - | - |
Chile Export Trend to India 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 166.99M | 12.45% | 15.24% |
| Feb | 202.51M | 21.27% | 364.42% |
| Mar | 268.78M | 32.72% | 13.51% |
| Apr | 176.50M | -34.33% | 51.39% |
| May | 172.87M | -2.06% | 241.51% |
| Jun | 233.13M | 34.86% | 9.22% |
| Jul | 201.14M | -13.72% | 181.87% |
| Aug | 239.05M | 18.85% | 187.77% |
| Sep | 254.13M | 6.31% | 115.36% |
| Oct | 232.28M | -8.6% | 121.63% |
| Nov | 124.84M | -46.26% | -28.3% |
| Dec | 279.70M | 124.06% | 88.35% |
| Total | 2.55B | - | - |
Get Historical Chile India Trade Records
Chile-India Top Trading Products in Whole Year 2024
Chile Export Profile: What Does Chile Sell to India
- Top Commodity: Rank #1 export is HS 26 (Ores, slag, and ash) at 64.96% of total exports to India.
- Demand Driver: India imports these raw materials for industrial processing, likely in steel and metal production.
- Concentration: Trade is highly concentrated, with HS 26 alone accounting for nearly two-thirds of exports.
Chile Import Profile: What Does Chile Buy from India
- Top Commodity: Rank #1 import is HS 87 (Vehicles) at 26.55% of total imports from India.
- Dependency Nature: Imports include vehicles, machinery (HS 84), and pharmaceuticals (HS 30), indicating a mix of consumer goods and industrial inputs.
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).
- 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 | 335.99M | 26.55% |
| 30 | 217.90M | 17.22% |
| 84 | 148.31M | 11.72% |
| 73 | 66.58M | 5.26% |
| 85 | 54.27M | 4.29% |
| 29 | 46.51M | 3.68% |
| 63 | 44.18M | 3.49% |
| 42 | 28.90M | 2.28% |
| 39 | 27.81M | 2.20% |
| 56 | 24.84M | 1.96% |
Export Analysis by Product: Chile to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 1.66B | 64.96% |
| 74 | 318.49M | 12.48% |
| 28 | 220.70M | 8.65% |
| 08 | 156.75M | 6.14% |
| 47 | 97.41M | 3.82% |
| 72 | 39.31M | 1.54% |
| 76 | 15.34M | 0.60% |
| 12 | 8.22M | 0.32% |
| 11 | 7.83M | 0.31% |
| 78 | 7.38M | 0.29% |
Check Detailed Chile-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Chile-India trade relationship is poised for sustained growth in 2025, driven by India’s insatiable demand for Chilean raw materials, particularly ores (HS 26), which dominate exports. However, volatility in monthly trade flows—evident in sharp YoY swings—suggests exporters should prepare for periodic demand fluctuations, possibly tied to India’s industrial cycles. With Chile’s $1.28B surplus, the resource-for-tech exchange model will likely deepen, but diversification beyond ores is critical to mitigate overreliance on a single commodity.
Strategic Moves
- Lock in Long-term Ore Contracts: Chilean miners should secure multi-year agreements with Indian steel producers to stabilize revenue and hedge against price swings.
- Expand Export Basket: Chile must leverage its surplus to push higher-value agro-exports (e.g., fruits, wine) into India’s consumer markets, reducing dependence on ores.
- Optimize Vehicle Imports: Indian automakers should target Chile’s growing middle class by localizing assembly or offering financing options to counter import volatility.
Frequently Asked Questions
How did Chile - India trade perform in 2024 Whole Year?
Chile's exports to India surged to $2.55B with explosive YoY growth in key months, while imports from India totaled $1.27B, showing volatile performance.
What are the top exports from Chile to India?
HS 26 (Ores, slag, and ash) dominated Chile's exports to India, accounting for 64.96% of total shipments, primarily for industrial processing.
What does Chile import from India?
Chile's top imports from India include HS 87 (Vehicles) at 26.55%, along with machinery (HS 84) and pharmaceuticals (HS 30).
What is the trade balance between Chile and India?
Chile holds a trade surplus of $1.28B with India, as exports ($2.55B) more than doubled imports ($1.27B).
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.
Chile - India Trade 2024 Q1: Strong Growth & Volatility
Chile's $343.48M trade surplus with India highlights the Chile India trade trend, with ores and machinery as top trading products. Explore insights on yTrade.
