Chile - Mainland China Trade 2024 Whole Year: Resource-for-Tech Surge
Key Market Takeaways: Chile - Mainland China Trade
The bilateral trade relationship between Chile and Mainland China reflects growth with volatility in 2024, anchored by Chile's strong commodity exports.
- $58.8B Total Trade | $16.84B Surplus: Chile's exports ($37.82B) nearly double imports ($20.98B), driven by robust demand for raw materials despite monthly volatility.
- Resource-for-Tech Exchange: Chile - Mainland China trade statistics show 59% of exports are ores (HS 26), while 21% of imports are electrical machinery (HS 85), highlighting a raw-materials-for-manufactured-goods dynamic.
- Asymmetric Interdependence: Highly complementary but unequal—China holds the value-add advantage, while Chile remains a critical supplier of industrial inputs.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-Mainland China Trade Trend in Whole Year 2024
Chile Export Performance: Shipments to Mainland China
- Total Volume: $37.82B in 2024.
- Growth Trend & Context:
- Mixed YoY performance: Strong growth in Feb (+17.08%), May (+20.57%), and Dec (+16.78%) offset by sharp declines in Mar (-11.38%), Jun (-14.36%), and Aug (-13.09%).
- Key Volatility: December saw the highest MoM surge (+25.5%) and value ($4.10B), while February and June recorded steep drops (-22.1% and -21.8% MoM, respectively).
Chile Import Performance: Sourcing from Mainland China
- Total Volume: $20.98B in 2024.
- Growth Trend & Context:
- Positive YoY trend overall, with notable spikes in Mar (+19.17%), Jul (+7.13%), and Dec (+13.83%), despite contractions in Apr (-9.85%) and May (-7.95%).
- Key Volatility: August posted the highest monthly value ($2.11B) and MoM growth (+17.44%), while September saw the sharpest MoM decline (-18.4%).
Chile - Mainland China Trade Balance & Market Dynamics
- Net Position: Trade surplus of $16.84B (Exports $37.82B > Imports $20.98B).
- Relationship Status: Chile maintains a strong net exporter role, with exports nearly double imports, reflecting robust commodity demand (e.g., copper, lithium) from China. Volatility in monthly trade flows suggests seasonal or price-driven adjustments.
Chile Import Trend from Mainland China 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 1.64B | -4.33% | 12.63% |
| Feb | 1.55B | -5.61% | 0.68% |
| Mar | 1.59B | 2.79% | 19.17% |
| Apr | 1.47B | -7.97% | -9.85% |
| May | 1.58B | 7.7% | -7.95% |
| Jun | 1.55B | -1.63% | -8.74% |
| Jul | 1.80B | 15.78% | 7.13% |
| Aug | 2.11B | 17.44% | 4.16% |
| Sep | 1.72B | -18.4% | 7.23% |
| Oct | 1.98B | 14.76% | 10.32% |
| Nov | 2.04B | 3.05% | 24.45% |
| Dec | 1.95B | -4.14% | 13.83% |
| Total | 20.98B | - | - |
Chile Export Trend to Mainland China 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 4.12B | 17.41% | -3.54% |
| Feb | 3.21B | -22.1% | 17.08% |
| Mar | 3.02B | -6.0% | -11.38% |
| Apr | 3.07B | 1.71% | 15.57% |
| May | 3.24B | 5.53% | 20.57% |
| Jun | 2.53B | -21.8% | -14.36% |
| Jul | 2.70B | 6.78% | -3.89% |
| Aug | 2.47B | -8.6% | -13.09% |
| Sep | 3.01B | 21.98% | -5.67% |
| Oct | 3.10B | 2.76% | -3.16% |
| Nov | 3.26B | 5.39% | 2.39% |
| Dec | 4.10B | 25.5% | 16.78% |
| Total | 37.82B | - | - |
Get Historical Chile Mainland China Trade Records
Chile-Mainland China Top Trading Products in Whole Year 2024
Chile Export Profile: What Does Chile Sell to Mainland China
- Top Commodity: Rank #1 export is HS 26 (Ores, slag, and ash) at 59.21% of total exports.
- 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 nearly 60% 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 21.47% of total imports.
- 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) to Mainland China, which in turn supplies high-value machinery and manufactured goods.
- Value Chain Position: Mainland China holds the higher value-add position, exporting complex manufactured goods, while Chile primarily supplies raw materials.
Import Analysis by Product: Mainland China to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 4.50B | 21.47% |
| 84 | 2.72B | 12.96% |
| 87 | 1.78B | 8.49% |
| 61 | 1.03B | 4.93% |
| 62 | 988.91M | 4.71% |
| 39 | 937.55M | 4.47% |
| 72 | 926.98M | 4.42% |
| 73 | 886.13M | 4.22% |
| 64 | 619.74M | 2.95% |
| 94 | 578.35M | 2.76% |
Export Analysis by Product: Chile to Mainland China (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 22.39B | 59.21% |
| 74 | 5.56B | 14.71% |
| 08 | 3.48B | 9.21% |
| 28 | 2.67B | 7.06% |
| 47 | 2.15B | 5.68% |
| 03 | 388.05M | 1.03% |
| 23 | 273.04M | 0.72% |
| 02 | 262.18M | 0.69% |
| 22 | 161.09M | 0.43% |
| 44 | 130.90M | 0.35% |
Check Detailed Chile-Mainland China Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Chile’s trade surplus with Mainland China is expected to remain robust in 2025, driven by sustained demand for critical minerals like copper and lithium. However, volatility in monthly shipments signals potential price sensitivity and seasonal disruptions, requiring exporters to monitor Chinese industrial cycles closely. The resource-for-tech exchange model will likely deepen, but Chile must address over-reliance on raw material exports to avoid vulnerability to commodity price swings. Traders should anticipate tighter margins if China’s manufacturing sector slows, making diversification imperative.
Strategic Moves
- Lock in Long-Term Supply Contracts: Chilean mining firms should secure multi-year agreements with Chinese buyers to stabilize revenue streams amid fluctuating commodity prices.
- Diversify Export Composition: Chile must invest in value-added processing (e.g., refined copper, battery-grade lithium) to reduce dependency on raw ore exports and capture higher margins.
- Strengthen Tech Import Partnerships: Importers of Chinese machinery (HS 85) should negotiate joint ventures or local assembly deals to reduce costs and build domestic technical capacity.
Frequently Asked Questions
How did Chile - Mainland China trade perform in 2024 Whole Year?
Chile exported $37.82B to Mainland China and imported $20.98B in 2024, with mixed YoY growth in exports and an overall positive trend in imports.
What are the top exports from Chile to Mainland China?
HS 26 (Ores, slag, and ash) dominated Chile's exports to Mainland China, accounting for 59.21% of total shipments.
What does Chile import from Mainland China?
HS 85 (Electrical machinery and equipment) was the top import, making up 21.47% of Chile's total imports from Mainland China.
What is the trade balance between Chile and Mainland China?
Chile recorded a trade surplus of $16.84B, with exports nearly double imports, driven by strong demand for commodities like copper and lithium.
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.
Chile - Mainland China Trade 2024 Q2: Surplus & Volatility
Chile's trade surplus with Mainland China hit $4.24B in Q2 2024 despite June's 21.8% export drop. Explore Chile Mainland China trade trends and top trading products like ores (HS 26) on yTrade.
