Chile - Mainland China Trade 2023 Q3: Robust Surplus & Tech Exchange
Key Market Takeaways: Chile - Mainland China Trade
The bilateral trade relationship between Chile and Mainland China remains robust, with Chile maintaining net exporter dominance in Q3 2023.
- Economic Pulse: Chile posted a $3.54B trade surplus ($8.85B exports vs. $5.31B imports), driven by resilient export growth (+14.3% YoY in September) despite import volatility (-24.39% YoY).
- Exchange Structure: Chile - Mainland China trade statistics reveal a resource-for-tech complementarity—56% of Chile’s exports are ores (HS 26), while 21% of imports are electrical machinery (HS 85).
- Strategic Interdependence: Highly complementary economies, with China relying on Chilean raw materials for industrial production and Chile dependent on Chinese high-tech inputs.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-Mainland China Trade Trend in Q3 2023
Chile Export Performance: Shipments to Mainland China
- Total Volume: Exports to Mainland China totaled $8.85B in Q3 2023.
- Growth Trend & Context:
- YoY growth was positive in August (+2.81%) and September (+14.3%), offsetting July’s flat performance (0.0%).
- No specific trade news or policy shifts were reported to explain the rebound.
- Key Volatility: September saw a 12.38% MoM surge, the sharpest quarterly increase.
Chile Import Performance: Sourcing from Mainland China
- Total Volume: Imports from Mainland China reached $5.31B in Q3 2023.
- Growth Trend & Context:
- YoY figures were negative across all months (August: -19.4%, September: -24.39%), signaling reduced demand or supply adjustments.
- Key Volatility: August imports spiked 20.79% MoM, but September plunged -20.74%, reflecting erratic ordering patterns.
Chile - Mainland China Trade Balance & Market Dynamics
- Net Position: Chile recorded a trade surplus of $3.54B ($8.85B exports - $5.31B imports).
- Relationship Status: Net exporter dominance continues, with exports outpacing imports by 67% despite import volatility.
Chile Import Trend from Mainland China 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 1.68B | -1.37% | 0.0% |
| Aug | 2.03B | 20.79% | -19.4% |
| Sep | 1.61B | -20.74% | -24.39% |
| Total | 5.31B | - | - |
Chile Export Trend to Mainland China 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 2.81B | -4.86% | 0.0% |
| Aug | 2.84B | 1.08% | 2.81% |
| Sep | 3.19B | 12.38% | 14.3% |
| Total | 8.85B | - | - |
Get Historical Chile Mainland China Trade Records
Chile-Mainland China Top Trading Products in Q3 2023
Chile Export Profile: What Does Chile Sell to Mainland China
- Top Commodity: Rank #1 export is HS 26 (Ores, slag, and ash) at 56.03% of total exports to Mainland China.
- Demand Driver: Mainland China uses these raw materials for industrial processing, particularly in steel and metal production.
- 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 20.88% of total imports from Mainland China.
- Dependency Nature: Critical technology dependency, as these imports include high-tech components and machinery essential for Chile’s industrial and consumer sectors.
Chile - Mainland China Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Chile exports raw materials (ores, copper) while importing high-tech machinery and consumer goods.
- Value Chain Position: Mainland China holds the higher value-add position, supplying advanced manufactured goods, while Chile remains a key supplier of raw materials.
Import Analysis by Product: Mainland China to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 1.11B | 20.88% |
| 84 | 748.73M | 14.10% |
| 87 | 442.72M | 8.34% |
| 62 | 258.31M | 4.86% |
| 61 | 248.36M | 4.68% |
| 72 | 240.68M | 4.53% |
| 39 | 231.76M | 4.36% |
| 73 | 197.01M | 3.71% |
| 64 | 170.96M | 3.22% |
| 95 | 155.02M | 2.92% |
Export Analysis by Product: Chile to Mainland China (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 4.96B | 56.03% |
| 74 | 1.90B | 21.45% |
| 28 | 1.10B | 12.47% |
| 47 | 435.63M | 4.92% |
| 03 | 143.74M | 1.62% |
| 23 | 66.12M | 0.75% |
| 02 | 63.59M | 0.72% |
| 22 | 46.55M | 0.53% |
| 44 | 46.22M | 0.52% |
| 08 | 35.43M | 0.40% |
Check Detailed Chile-Mainland China Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Chile’s trade surplus with Mainland China is likely to widen in Q4 2023, driven by sustained demand for raw materials (HS 26) amid Mainland China’s industrial recovery. However, import volatility signals potential supply chain disruptions, urging exporters to lock in favorable terms now. The resource-for-tech complementarity will persist, but Chile must address over-reliance on ores by diversifying high-value exports to reduce vulnerability to commodity price swings.
Strategic Moves
- Secure Long-Term Contracts: Chilean copper and ore exporters should negotiate multi-year agreements with Mainland Chinese buyers to stabilize revenue amid fluctuating demand.
- Diversify Tech Imports: Reduce dependency on Mainland China’s HS 85 (electrical machinery) by sourcing from alternative markets like South Korea or Germany to mitigate supply shocks.
- Invest in Upgraded Logistics: Accelerate port and rail upgrades to handle higher export volumes, ensuring timely deliveries during seasonal demand spikes.
Act now—volatility demands agility.
Frequently Asked Questions
How did Chile - Mainland China trade perform in 2023 Q3?
Chile's exports to Mainland China totaled $8.85B in Q3 2023, with positive YoY growth in August (+2.81%) and September (+14.3%). Imports from Mainland China reached $5.31B, showing YoY declines.
What are the top exports from Chile to Mainland China?
HS 26 (Ores, slag, and ash) is Chile's top export to Mainland China, accounting for 56.03% of total exports, driven by demand for industrial processing.
What does Chile import from Mainland China?
HS 85 (Electrical machinery and equipment) is the top import, making up 20.88% of total imports, reflecting Chile's dependency on high-tech components.
What is the trade balance between Chile and Mainland China?
Chile recorded a trade surplus of $3.54B in Q3 2023, maintaining its net exporter dominance with exports outpacing imports by 67%.
Chile - Mainland China Trade 2023 Q2: Sustained Surplus
Chile's trade surplus with Mainland China hit $3.25B in Q2 2023, driven by resource-for-tech exchange—ores dominate Chile's exports while China's electrical machinery leads imports, per yTrade data.
Chile - Mainland China Trade 2023 Q4: Growth with Volatility
Chile's trade surplus with Mainland China hit $4.75B in Q4 2023, driven by ores exports and electronics imports. Explore Chile Mainland China trade trends and top trading products via yTrade data.
