Chile - Mainland China Trade 2024 Q4: Resource-for-Tech Exchange
Key Market Takeaways: Chile - Mainland China Trade
The bilateral trade relationship between Chile and Mainland China shows strong growth with notable volatility in Q4 2024.
- $16.4B total trade volume with a $4.5B surplus for Chile, driven by robust commodity exports despite monthly fluctuations.
- Resource-for-Tech exchange: Chile supplies 60% of its exports as industrial ores (HS 26) to China, while importing critical machinery (HS 85) for domestic needs.
- Asymmetric interdependence: China’s manufacturing demand anchors Chile’s export economy, while Chile relies on Chinese tech imports—a stable but uneven partnership.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-Mainland China Trade Trend in Q4 2024
Chile Export Performance: Shipments to Mainland China
- Total Volume: $10.46B in Q4 2024.
- Growth Trend & Context:
- Strong YoY recovery in December (+16.78%) after a weak October (-3.16%).
- No trade policy shifts reported to explain fluctuations.
- Key Volatility: December saw a sharp 25.5% MoM surge, likely year-end demand.
Chile Import Performance: Sourcing from Mainland China
- Total Volume: $5.97B in Q4 2024.
- Growth Trend & Context:
- Consistent YoY growth (peaking at +24.45% in November).
- Key Volatility: December imports dipped 4.14% MoM, possibly due to inventory adjustments.
Chile - Mainland China Trade Balance & Market Dynamics
- Net Position: $4.49B surplus for Chile (Exports $10.46B > Imports $5.97B).
- Relationship Status: Chile maintains a strong net exporter position, driven by commodity demand.
Chile Import Trend from Mainland China 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 1.98B | 14.76% | 10.32% |
| Nov | 2.04B | 3.05% | 24.45% |
| Dec | 1.95B | -4.14% | 13.83% |
| Total | 5.97B | - | - |
Chile Export Trend to Mainland China 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 3.10B | 2.76% | -3.16% |
| Nov | 3.26B | 5.39% | 2.39% |
| Dec | 4.10B | 25.5% | 16.78% |
| Total | 10.46B | - | - |
Get Historical Chile Mainland China Trade Records
Chile-Mainland China Top Trading Products in Q4 2024
Chile Export Profile: What Does Chile Sell to Mainland China
- Top Commodity: Rank #1 export is HS 26 (Ores, slag, and ash) at 59.70% of total exports.
- Demand Driver: Mainland China uses these raw materials for industrial processing, likely in steel production and manufacturing.
- Concentration: Trade is heavily 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 22.55% 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) while importing high-value machinery and electronics.
- 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 | 1.35B | 22.55% |
| 84 | 729.19M | 12.22% |
| 87 | 565.89M | 9.48% |
| 72 | 271.57M | 4.55% |
| 39 | 271.37M | 4.55% |
| 61 | 261.90M | 4.39% |
| 73 | 248.89M | 4.17% |
| 62 | 243.22M | 4.08% |
| 64 | 163.99M | 2.75% |
| 94 | 156.98M | 2.63% |
Export Analysis by Product: Chile to Mainland China (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 6.24B | 59.70% |
| 74 | 1.62B | 15.49% |
| 08 | 1.07B | 10.21% |
| 47 | 652.82M | 6.24% |
| 28 | 525.53M | 5.03% |
| 03 | 127.93M | 1.22% |
| 02 | 72.90M | 0.70% |
| 22 | 36.03M | 0.34% |
| 44 | 21.65M | 0.21% |
| 12 | 20.09M | 0.19% |
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 industrial raw materials (HS 26) and stable imports of high-tech machinery (HS 85). The December export surge signals strong year-end demand, likely extending into Q1 2025, though traders should monitor potential inventory adjustments in Mainland China. Volatility in monthly figures suggests short-term fluctuations, but the long-term Chile - Mainland China trade forecast remains positive, anchored by complementary resource-for-tech exchange.
Strategic Moves
- Lock in Long-Term Contracts: Chilean exporters of ores and copper should secure multi-year agreements with Chinese buyers to stabilize revenue amid price volatility.
- Diversify Tech Suppliers: Reduce dependency on Mainland China for critical electronics (HS 85) by exploring partnerships with South Korea or Taiwan to mitigate supply chain risks.
- Optimize Logistics for Seasonal Peaks: Exporters must align shipping schedules with China’s industrial demand cycles, particularly pre-Lunar New Year, to capitalize on recurring spikes.
Frequently Asked Questions
How did Chile - Mainland China trade perform in 2024 Q4?
Chile exported $10.46B to Mainland China, with a strong YoY recovery (+16.78% in December), while imports totaled $5.97B, showing consistent YoY growth.
What are the top exports from Chile to Mainland China?
The top export is HS 26 (Ores, slag, and ash), accounting for 59.70% of total exports, driven by demand for industrial raw materials.
What does Chile import from Mainland China?
The top import is HS 85 (Electrical machinery and equipment), making up 22.55% of total imports, reflecting Chile's reliance on high-tech components.
What is the trade balance between Chile and Mainland China?
Chile maintained a trade surplus of $4.49B, driven by higher exports of raw materials compared to imports of manufactured goods.
Chile - Mainland China Trade 2024 Q3: Commodity Surplus Shrinks
Chile's Mainland China trade trend shows a $2.56B surplus despite export declines. Ores dominate Chile's exports, while machinery tops imports, per yTrade data.
Chile - Mainland China Trade 2025 Q1: Surplus & Resource-Tech Exchange
Chile's trade surplus with Mainland China hit $4.74B in Q1 2025, driven by ores exports and machinery imports. Explore Chile Mainland China trade trends and top trading products via yTrade data.
