Chile - Italy Trade 2024 Q2: Copper for Machinery
Key Market Takeaways: Chile - Italy Trade
The bilateral trade relationship between Chile and Italy shows mixed growth with persistent volatility in 2024 Q2.
- Trade Deficit & Volume: Chile posted a $100.88M deficit (imports $365.96M > exports $265.08M), reflecting steady reliance on Italian goods despite uneven demand.
- Resource-for-Tech Exchange: Chile - Italy trade statistics reveal a lopsided structure—copper (50.77% of exports) flows to Italy, while machinery (44.55% of imports) dominates inbound shipments.
- Strategic Fit: Complementary but unequal: Italy locks in higher value-add with advanced industrial exports, while Chile remains a raw material supplier.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-Italy Trade Trend in Q2 2024
Chile Export Performance: Shipments to Italy
- Total Volume: $265.08M in Q2 2024.
- Growth Trend & Context: Mixed YoY performance—April (+4.95%) and June (+12.81%) growth offset May’s -1.56% dip. No clear trend driver given lack of relevant news.
- Key Volatility: Steep MoM declines: April (-29.04%) and June (-7.26%) reflect demand or pricing shifts.
Chile Import Performance: Sourcing from Italy
- Total Volume: $365.96M in Q2 2024.
- Growth Trend & Context: YoY fluctuated (-6.24% in April, +3.63% in June), suggesting unstable demand. No news to explain volatility.
- Key Volatility: May saw a 26.34% MoM surge, possibly due to one-off orders, followed by a -12.55% drop in June.
Chile - Italy Trade Balance & Market Dynamics
- Net Position: Trade deficit of $100.88M (Imports $365.96M > Exports $265.08M).
- Relationship Status: Chile remains a net importer from Italy, with Q2 imports 38% higher than exports. Dependency on Italian goods persists.
Chile Import Trend from Italy 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 108.66M | -14.24% | -6.24% |
| May | 137.27M | 26.34% | 2.26% |
| Jun | 120.04M | -12.55% | 3.63% |
| Total | 365.96M | - | - |
Chile Export Trend to Italy 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 93.10M | -29.04% | 4.95% |
| May | 89.23M | -4.16% | -1.56% |
| Jun | 82.75M | -7.26% | 12.81% |
| Total | 265.08M | - | - |
Get Historical Chile Italy Trade Records
Chile-Italy Top Trading Products in Q2 2024
Chile Export Profile: What Does Chile Sell to Italy
- Top Commodity: Copper (HS Code 74) dominates with 50.77% share.
- Demand Driver: Italy uses these for industrial processing, likely in manufacturing and construction sectors.
- Concentration: Highly concentrated, with copper alone accounting for over half of exports.
Chile Import Profile: What Does Chile Buy from Italy
- Top Commodity: Machinery (HS Code 84) leads with 44.55% share.
- Dependency Nature: Critical technology dependency, indicating reliance on Italian industrial equipment.
Chile - Italy Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Chile exports raw materials (copper, agricultural products) and imports high-value machinery and manufactured goods.
- Value Chain Position: Italy holds the higher value-add position, supplying advanced machinery and chemicals, while Chile provides primary commodities.
Import Analysis by Product: Italy to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 163.03M | 44.55% |
| 85 | 28.99M | 7.92% |
| 30 | 20.66M | 5.65% |
| 87 | 19.73M | 5.39% |
| 39 | 15.35M | 4.19% |
| 33 | 11.89M | 3.25% |
| 90 | 11.08M | 3.03% |
| 73 | 9.83M | 2.69% |
| 38 | 7.48M | 2.04% |
| 94 | 5.92M | 1.62% |
Export Analysis by Product: Chile to Italy (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 134.57M | 50.77% |
| 08 | 76.97M | 29.04% |
| 28 | 12.25M | 4.62% |
| 16 | 8.40M | 3.17% |
| 03 | 5.79M | 2.19% |
| 44 | 4.48M | 1.69% |
| 48 | 4.04M | 1.53% |
| 26 | 3.11M | 1.17% |
| 20 | 2.53M | 0.95% |
| 15 | 2.48M | 0.93% |
Check Detailed Chile-Italy Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Chile-Italy Trade
The Chile-Italy trade relationship is expected to remain volatile in the near term, with Chile’s trade deficit likely to persist. While copper exports may see modest growth due to steady industrial demand in Italy, machinery imports will continue to dominate, reinforcing Chile’s dependency on Italian technology. However, unpredictable MoM swings—driven by pricing shifts or one-off orders—suggest traders should prepare for short-term instability. The Chile-Italy trade forecast hinges on commodity prices and Italy’s industrial output, with no clear catalyst for rebalancing the deficit.
Strategic Moves for Traders & Policymakers
- Diversify Export Markets: Chilean exporters must reduce reliance on copper by targeting Italy’s agro-processing and renewable energy sectors, where niche demand exists.
- Lock in Machinery Contracts: Importers should negotiate long-term supply agreements with Italian manufacturers to mitigate price volatility and ensure stable access to critical equipment.
- Monitor Trade Policy Shifts: Both nations should explore bilateral agreements to streamline customs and reduce non-tariff barriers, particularly for high-value machinery and processed goods.
Frequently Asked Questions
How did Chile - Italy trade perform in 2024 Q2?
Chile's exports to Italy totaled $265.08M, with mixed YoY growth, while imports from Italy reached $365.96M, showing unstable demand.
What are the top exports from Chile to Italy?
Copper (HS Code 74) dominates Chile's exports to Italy, accounting for 50.77% of total shipments.
What does Chile import from Italy?
Machinery (HS Code 84) is Chile's top import from Italy, representing 44.55% of total imports.
What is the trade balance between Chile and Italy?
Chile recorded a trade deficit of $100.88M with Italy in Q2 2024, with imports 38% higher than exports.
Chile - Italy Trade 2023 Q3: Widening Deficit
Chile's trade deficit with Italy hit $248.11M in Q3 2023, driven by Italy's machinery imports and Chile's copper exports. Explore Chile-Italy trade trends and top trading products via yTrade data.
Chile - Italy Trade 2024 Q3: Deficit & Tech Exchange
Chile's trade deficit with Italy hit $216M in Q3 2024, as Italy's machinery exports dominate. Explore Chile Italy trade trends and top trading products via yTrade data.
