Chile - India Trade 2024 Q4: Resource-for-Tech Exchange
Key Market Takeaways: Chile - India Trade
The bilateral trade relationship between Chile and India shows growth with extreme volatility in Q4 2024.
- Chile holds a $242.55M trade surplus, with exports ($636.82M) nearly doubling imports ($394.27M), despite erratic monthly swings.
- Chile - India trade statistics reveal a resource-for-tech exchange: Chile supplies ores (77% of exports) while India ships vehicles and machinery (25% of imports).
- Highly complementary economies: Chile’s raw material exports fuel India’s industrial base, while India’s finished goods meet Chile’s consumer and industrial demand.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-India Trade Trend in Q4 2024
Chile Export Performance: Shipments to India
- Total Volume: $636.82M in Q4 2024.
- Growth Trend & Context:
- YoY swings were extreme: +121.63% in October, -28.3% in November, and +88.35% in December. No news context to explain volatility.
- Key Volatility: December saw a 124.06% MoM surge, while November dropped -46.26% MoM.
Chile Import Performance: Sourcing from India
- Total Volume: $394.27M in Q4 2024.
- Growth Trend & Context:
- YoY mixed: -25.88% in October, -9.05% in November, then +39.38% in December. No news drivers cited.
- Key Volatility: December spiked 49.1% MoM, while November fell -14.95% MoM.
Chile - India Trade Balance & Market Dynamics
- Net Position: Chile holds a $242.55M trade surplus with India (Exports $636.82M vs. Imports $394.27M).
- Relationship Status: Chile is a net exporter, with exports consistently outpacing imports despite quarterly volatility.
Chile Import Trend from India 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 126.42M | 29.82% | -25.88% |
| Nov | 107.53M | -14.95% | -9.05% |
| Dec | 160.32M | 49.1% | 39.38% |
| Total | 394.27M | - | - |
Chile Export Trend to India 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 232.28M | -8.6% | 121.63% |
| Nov | 124.84M | -46.26% | -28.3% |
| Dec | 279.70M | 124.06% | 88.35% |
| Total | 636.82M | - | - |
Get Historical Chile India Trade Records
Chile-India Top Trading Products in Q4 2024
Chile Export Profile: What Does Chile Sell to India
- Top Commodity: Rank #1 export is HS Code 26 (Ores, slag, and ash) with 76.97% share.
- Demand Driver: India uses these raw materials for industrial processing, likely in steel or metal production.
- Concentration: Trade is heavily dominated by ores, with a single category accounting for over 75% of exports.
Chile Import Profile: What Does Chile Buy from India
- Top Commodity: Rank #1 import is HS Code 87 (Vehicles) with 25.14% share.
- Dependency Nature: Imports include machinery (HS 84, 85) and consumer goods (HS 87, 62), suggesting a mix of industrial and retail demand.
Chile - India Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Chile supplies raw materials (ores) while India exports manufactured goods (vehicles, machinery).
- Value Chain Position: India holds the higher value-add position, exporting finished products, while Chile provides bulk commodities.
Import Analysis by Product: India to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 99.13M | 25.14% |
| 30 | 58.57M | 14.86% |
| 73 | 56.76M | 14.40% |
| 84 | 24.87M | 6.31% |
| 85 | 16.19M | 4.11% |
| 63 | 14.89M | 3.78% |
| 56 | 10.93M | 2.77% |
| 39 | 10.24M | 2.60% |
| 29 | 9.48M | 2.41% |
| 62 | 8.97M | 2.28% |
Export Analysis by Product: Chile to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 490.15M | 76.97% |
| 28 | 67.32M | 10.57% |
| 08 | 34.56M | 5.43% |
| 47 | 25.25M | 3.97% |
| 72 | 7.05M | 1.11% |
| 76 | 3.76M | 0.59% |
| 11 | 3.39M | 0.53% |
| 12 | 806.30K | 0.13% |
| 13 | 658.48K | 0.10% |
| 78 | 444.05K | 0.07% |
Check Detailed Chile-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Chile-India trade relationship is poised for continued growth in 2025, driven by India’s insatiable demand for raw materials (particularly ores) and Chile’s reliance on Indian manufactured goods. However, the extreme volatility in Q4 2024 signals potential supply chain disruptions or pricing instability, requiring proactive risk management. Expect the trade surplus to widen further if ore exports maintain their dominance, but traders must prepare for abrupt swings in monthly volumes. The complementary nature of this exchange—resources for tech—ensures long-term viability, but short-term turbulence demands strategic adjustments.
Strategic Moves
- Lock in Long-Term Ore Contracts: Chilean exporters must secure fixed-price agreements with Indian buyers to mitigate price volatility and ensure stable revenue streams.
- Diversify Export Markets for Chile: Over-reliance on ores (76.97% of exports) leaves Chile vulnerable to demand shocks. Explore new sectors like fresh fruit or lithium to reduce concentration risk.
- Optimize Vehicle Imports from India: Chilean importers should negotiate bulk discounts or staggered deliveries for HS Code 87 (vehicles) to capitalize on India’s competitive pricing and avoid inventory gluts.
Frequently Asked Questions
How did Chile - India trade perform in 2024 Q4?
Chile's exports to India totaled $636.82M, while imports from India reached $394.27M, showing extreme YoY volatility with no clear news drivers.
What are the top exports from Chile to India?
Chile's top export to India is HS Code 26 (Ores, slag, and ash), accounting for 76.97% of total shipments.
What does Chile import from India?
Chile primarily imports HS Code 87 (Vehicles) from India, making up 25.14% of total imports, alongside machinery and consumer goods.
What is the trade balance between Chile and India?
Chile holds a $242.55M trade surplus with India, driven by higher exports of raw materials compared to imports of manufactured goods.
Chile - India Trade 2024 Q1: Strong Growth & Volatility
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Chile - India Trade 2025 Q1: Resource-for-Tech Surplus
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