Chile - Japan Trade 2024 Q4: $1.84B Surplus
Key Market Takeaways: Chile - Japan Trade
The bilateral trade relationship between Chile and Japan is marked by Chile's dominant trade surplus and volatile growth in Q4 2024.
- Economic Pulse: Chile posted a $1.84B surplus ($2.40B exports vs. $564.27M imports), with exports nearly 4.3x imports—highlighting Japan’s reliance on Chilean commodities.
- Exchange Structure: Chile - Japan trade statistics reveal a resource-for-tech model: Chile supplies ores (71% of exports), while Japan dominates with vehicle shipments (34% of imports).
- Strategic Interdependence: Highly complementary—Chile feeds Japan’s industrial base, while Japan supplies critical high-tech goods, locking in mutual dependency.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-Japan Trade Trend in Q4 2024
Chile Export Performance: Shipments to Japan
- Total Volume: $2.40B in Q4 2024.
- Growth Trend & Context:
- YoY growth was mixed: October (+96.4%) and December (+33.4%) saw strong gains, but November (-21.51%) dragged down momentum.
- Key Volatility: December posted a sharp 71.19% MoM rebound after November’s -48.37% collapse.
Chile Import Performance: Sourcing from Japan
- Total Volume: $564.27M in Q4 2024.
- Growth Trend & Context:
- YoY swings were extreme: November (+34.57%) contrasted with October (-43.98%) and December (-21.09%).
- Key Volatility: December’s imports plummeted -19.75% MoM, the quarter’s steepest drop.
Chile - Japan Trade Balance & Market Dynamics
- Net Position: Chile ran a trade surplus of $1.84B (Exports: $2.40B > Imports: $564.27M).
- Relationship Status: Chile dominates as a net exporter, with exports nearly 4.3x imports.
Chile Import Trend from Japan 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 206.23M | 24.34% | -43.98% |
| Nov | 198.63M | -3.69% | 34.57% |
| Dec | 159.40M | -19.75% | -21.09% |
| Total | 564.27M | - | - |
Chile Export Trend to Japan 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 999.98M | 50.13% | 96.4% |
| Nov | 516.26M | -48.37% | -21.51% |
| Dec | 883.79M | 71.19% | 33.4% |
| Total | 2.40B | - | - |
Get Historical Chile Japan Trade Records
Chile-Japan Top Trading Products in Q4 2024
Chile Export Profile: What Does Chile Sell to Japan
- Top Commodity: Rank #1 export is HS Code 26 (Ores, slag, and ash) with 71.15% share.
- Demand Driver: Japan uses these raw materials for industrial processing, likely in steel and metal production.
- Concentration: Trade is highly concentrated, with ores alone accounting for over 70% of exports.
Chile Import Profile: What Does Chile Buy from Japan
- Top Commodity: Rank #1 import is HS Code 87 (Vehicles) with 34.02% share.
- Dependency Nature: Reflects a critical technology dependency, as Japan supplies high-value automotive products.
Chile - Japan Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Chile exports raw materials (ores, seafood) and imports high-tech goods (vehicles, machinery).
- Value Chain Position: Japan holds the higher value-add position, supplying advanced manufactured goods, while Chile provides primary commodities.
Import Analysis by Product: Japan to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 191.98M | 34.02% |
| 27 | 153.86M | 27.27% |
| 84 | 66.88M | 11.85% |
| 72 | 42.44M | 7.52% |
| 40 | 38.32M | 6.79% |
| 28 | 19.09M | 3.38% |
| 90 | 18.08M | 3.20% |
| 85 | 9.92M | 1.76% |
| 73 | 3.56M | 0.63% |
| 38 | 2.98M | 0.53% |
Export Analysis by Product: Chile to Japan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 1.71B | 71.15% |
| 03 | 395.71M | 16.49% |
| 44 | 52.19M | 2.17% |
| 28 | 51.97M | 2.17% |
| 02 | 40.53M | 1.69% |
| 22 | 37.79M | 1.57% |
| 20 | 25.90M | 1.08% |
| 47 | 17.40M | 0.72% |
| 08 | 12.80M | 0.53% |
| 16 | 11.98M | 0.50% |
Check Detailed Chile-Japan Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Chile’s trade surplus with Japan is expected to hold steady in 2025, driven by sustained demand for ores (HS Code 26) as Japan’s industrial sector recovers. However, volatility in monthly export growth signals potential supply chain disruptions or price sensitivity, requiring proactive risk management. Imports of Japanese vehicles (HS Code 87) may rebound if consumer demand stabilizes, but the current downtrend suggests caution. The resource-for-tech complementarity will remain the core dynamic, but Chile must push for higher-value exports to reduce over-reliance on raw materials.
Strategic Moves
- Lock in Long-Term Ore Contracts: Chilean exporters should secure multi-year agreements with Japanese buyers to stabilize revenue amid fluctuating monthly demand.
- Diversify Export Basket: Chile must invest in processing capabilities (e.g., refined copper) to move up the value chain and reduce dependency on unprocessed ores.
- Monitor Automotive Sector Trends: Importers should track Japan’s vehicle production forecasts and consider alternative suppliers if delays or price hikes persist.
Frequently Asked Questions
How did Chile - Japan trade perform in 2024 Q4?
Chile's exports to Japan totaled $2.40B in Q4 2024, with mixed YoY growth, while imports from Japan reached $564.27M, showing extreme YoY swings.
What are the top exports from Chile to Japan?
The top export is HS Code 26 (Ores, slag, and ash), accounting for 71.15% of Chile's shipments to Japan.
What does Chile import from Japan?
The top import is HS Code 87 (Vehicles), representing 34.02% of Chile's purchases from Japan.
What is the trade balance between Chile and Japan?
Chile recorded a trade surplus of $1.84B in Q4 2024, with exports nearly 4.3x higher than imports.
Chile - Japan Trade 2024 Q3: Robust Trade Surplus
Chile's trade surplus with Japan hit $1.71B in Q3 2024, fueled by ores exports and Japanese vehicles. Explore Chile Japan trade trends and top trading products via yTrade data.
Chile - Japan Trade 2025 Q1: Volatile Growth Trends
Chile's trade with Japan in Q1 2025 saw erratic swings, with ores and vehicles dominating. Explore Chile-Japan trade trends and top products via yTrade data.
