Chile - Mainland China Trade 2023 Whole Year: Strong Surplus & Resource-Tech Exchange
Key Market Takeaways: Chile - Mainland China Trade
The bilateral trade relationship between Chile and Mainland China shows growth with volatility in 2023, marked by a strong trade surplus for Chile.
- Economic Pulse: Chile posted a $17.62B surplus ($37.45B exports vs. $19.83B imports), though both sides saw uneven YoY demand swings.
- Exchange Structure: The trade is resource-for-tech, with Chile supplying 50.89% of its exports as ores (HS 26) and importing 23.18% electrical machinery (HS 85) from Mainland China.
- Strategic Interdependence: Highly complementary—Chile feeds China’s industrial base, while China supplies critical tech inputs.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-Mainland China Trade Trend in Whole Year 2023
Chile Export Performance: Shipments to Mainland China
- Total Volume: $37.45B in 2023.
- Growth Trend & Context: Mixed YoY performance, with notable declines in February (-8.3%), May (-28.26%), and December (-6.54%). Peaks in January (+20.55%) and September (+14.3%) suggest sporadic demand recovery. No news context provided to explain volatility.
- Key Volatility: February saw the sharpest MoM drop (-35.81%), while March rebounded with +24.19% growth.
Chile Import Performance: Sourcing from Mainland China
- Total Volume: $19.83B in 2023.
- Growth Trend & Context: Persistent YoY declines, averaging -20.4% over H1. Partial recovery in Q4 (December +6.91% YoY). No news context to explain the slump.
- Key Volatility: April (+21.65% MoM) and August (+20.79% MoM) were peak months; September saw the steepest MoM drop (-20.74%).
Chile - Mainland China Trade Balance & Market Dynamics
- Net Position: Trade surplus of $17.62B (Exports $37.45B > Imports $19.83B).
- Relationship Status: Chile maintains a strong net exporter role, with exports nearly double imports. Demand volatility in both directions points to uneven recovery post-pandemic.
Chile Import Trend from Mainland China 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 1.46B | -9.19% | -51.01% |
| Feb | 1.54B | 5.59% | -39.93% |
| Mar | 1.34B | -13.16% | -48.43% |
| Apr | 1.63B | 21.65% | -14.99% |
| May | 1.71B | 5.48% | -19.97% |
| Jun | 1.70B | -0.78% | -13.56% |
| Jul | 1.68B | -1.37% | 0.0% |
| Aug | 2.03B | 20.79% | -19.4% |
| Sep | 1.61B | -20.74% | -24.39% |
| Oct | 1.79B | 11.55% | -2.5% |
| Nov | 1.64B | -8.65% | -5.26% |
| Dec | 1.72B | 4.81% | 6.91% |
| Total | 19.83B | - | - |
Chile Export Trend to Mainland China 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 4.27B | 13.76% | 20.55% |
| Feb | 2.74B | -35.81% | -8.3% |
| Mar | 3.40B | 24.19% | 11.86% |
| Apr | 2.65B | -22.01% | -16.6% |
| May | 2.68B | 1.16% | -28.26% |
| Jun | 2.96B | 10.09% | -12.3% |
| Jul | 2.81B | -4.86% | 0.0% |
| Aug | 2.84B | 1.08% | 2.81% |
| Sep | 3.19B | 12.38% | 14.3% |
| Oct | 3.20B | 0.09% | 5.69% |
| Nov | 3.19B | -0.32% | -1.2% |
| Dec | 3.51B | 10.04% | -6.54% |
| Total | 37.45B | - | - |
Get Historical Chile Mainland China Trade Records
Chile-Mainland China Top Trading Products in Whole Year 2023
Chile Export Profile: What Does Chile Sell to Mainland China
- Top Commodity: Rank #1 export is HS 26 (Ores, slag, and ash) at 50.89% of total exports to Mainland China.
- Demand Driver: Mainland China uses these raw materials for industrial processing, likely in steel production and other heavy industries.
- Concentration: Trade is highly concentrated, with HS 26 alone accounting for over half of exports.
Chile Import Profile: What Does Chile Buy from Mainland China
- Top Commodity: Rank #1 import is HS 85 (Electrical machinery and equipment) at 23.18% of total imports from Mainland China.
- Dependency Nature: Critical technology dependency, as these imports include high-tech components essential for Chile's industrial and consumer electronics sectors.
Chile - Mainland China Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Chile exports raw materials (ores, copper) while importing high-value machinery and electronics from Mainland China.
- Value Chain Position: Mainland China holds the higher value-add position, supplying advanced manufactured goods, while Chile remains a key supplier of industrial raw materials.
Import Analysis by Product: Mainland China to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 4.60B | 23.18% |
| 84 | 2.66B | 13.41% |
| 87 | 1.67B | 8.43% |
| 61 | 1.01B | 5.07% |
| 62 | 970.76M | 4.90% |
| 39 | 824.03M | 4.16% |
| 72 | 797.13M | 4.02% |
| 73 | 769.51M | 3.88% |
| 64 | 579.16M | 2.92% |
| 94 | 446.03M | 2.25% |
Export Analysis by Product: Chile to Mainland China (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 19.06B | 50.89% |
| 74 | 7.33B | 19.58% |
| 28 | 4.93B | 13.18% |
| 08 | 2.66B | 7.09% |
| 47 | 1.79B | 4.78% |
| 03 | 423.67M | 1.13% |
| 02 | 346.14M | 0.92% |
| 23 | 224.81M | 0.60% |
| 22 | 206.49M | 0.55% |
| 44 | 145.47M | 0.39% |
Check Detailed Chile-Mainland China Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Chile - Mainland China trade relationship is expected to remain robust but volatile in 2024, driven by Mainland China’s cyclical demand for raw materials and Chile’s reliance on high-tech imports. While Chile’s trade surplus will likely persist, exporters should prepare for uneven demand spikes, particularly in ores and copper (HS 26), as Mainland China’s industrial activity fluctuates. Importers, meanwhile, must navigate potential supply chain disruptions in electronics (HS 85) amid geopolitical and production risks. The overall trade volume may stabilize if Mainland China’s economic recovery gains momentum, but traders should brace for short-term turbulence.
Strategic Moves
- Lock in Long-Term Contracts for Ores: Chilean miners should secure multi-year agreements with Mainland Chinese buyers to mitigate price volatility and ensure stable revenue streams, given the concentrated reliance on HS 26 exports.
- Diversify Tech Import Sources: Reduce dependency on Mainland China for critical electronics (HS 85) by exploring alternative suppliers in Southeast Asia or Mexico to hedge against supply chain disruptions.
- Monitor Industrial Policy Shifts in Mainland China: Traders must track Mainland China’s steel production and infrastructure spending trends, as sudden policy changes could sharply alter demand for Chilean raw materials. Adjust export volumes proactively to avoid inventory gluts.
Frequently Asked Questions
How did Chile - Mainland China trade perform in 2023 Whole Year?
Chile exported $37.45B to Mainland China and imported $19.83B, with mixed YoY growth and notable volatility in both directions.
What are the top exports from Chile to Mainland China?
HS 26 (Ores, slag, and ash) dominated Chile's exports, accounting for 50.89% of total shipments to Mainland China.
What does Chile import from Mainland China?
HS 85 (Electrical machinery and equipment) was the top import, representing 23.18% of Chile's total imports from Mainland China.
What is the trade balance between Chile and Mainland China?
Chile recorded a trade surplus of $17.62B, with exports nearly double imports, maintaining its strong net exporter role.
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