Top Chile Exports 2023: Commodity Dominance

Chile Export Portfolio Overview

• Chile's export structure is overwhelmingly dominated by extractive and resource-based sectors, with Ores & Slag (HS26, 30.07%) and Copper Articles (HS74, 20.77%) accounting for over half of total export value.
• Concentration risk is extremely high, with the top two sectors representing 50.84% of exports, making the economy highly vulnerable to global commodity price cycles and demand shifts.
• This structure solidifies Chile's role as a primary commodity exporter, fundamentally a supplier of raw and semi-processed inputs to global industrial and manufacturing supply chains.

Table: Chile Top Export Product in 2023 (Source: yTrade)

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Key Driver: Ores, slag and ash

• The sector is driven almost entirely by Copper Ores and Concentrates (HS2603), which constitutes 85.20% of the sector's value and 25.6% of all Chilean exports.
• This is a pure raw material export, indicating minimal onshore value-add; Chile primarily extracts and ships unprocessed mineral wealth.
• Dominance is rooted in Chile's unparalleled natural resource endowment—it holds the world's largest copper reserves—coupled with established, high-volume mining infrastructure and expertise.

Table: HS Code 26 Detailed Breakdown

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Key Driver: Copper and articles thereof

• Refined Copper (HS7403) is the core product, representing 86.01% of the sector and 17.9% of total national exports.
• This acts as a direct complement to HS26, representing the next stage of processing; it transforms raw copper ore into a standardized, tradable intermediate good (cathodes, wire rods).
• Its strategic importance is dual: it captures more value than raw ore exports and cements Chile's position as the indispensable global supplier of copper, the critical metal for electrification and construction.

Table: HS Code 74 Detailed Breakdown

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Key Driver: Inorganic chemicals

• Lithium Carbonate (HS2836) is the clear driver, accounting for 56.84% of the sector's value and 5.7% of total exports.
• This is a processed industrial chemical, representing a higher value-add export than raw lithium ore, and is a critical input for battery manufacturing.
• Its role is that of an emerging strategic pillar; it leverages Chile's vast lithium reserves to supply the foundational material for the global energy transition, diversifying beyond traditional copper-centric exports.

Table: HS Code 28 Detailed Breakdown

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Frequently Asked Questions

What is Chile's largest export commodity in 2023?

The largest export category is Ores, slag and ash (HS 26), valued at $28.55B. This sector is primarily driven by exports of Copper ores and concentrates (HS 2603), which alone account for 85.20% ($24.32B) of the sector's total value.

Which specific Ores, slag and ash products does Chile export most?

Within the Ores, slag and ash sector, the top exports are Copper ores and concentrates (HS 2603) at $24.32B and Molybdenum ores and concentrates (HS 2613) at $2.39B, which together make up 93.58% of the sector's exports.

Does Chile export Copper and articles thereof?

Yes. Copper and articles thereof (HS 74) is Chile’s second-largest export sector, valued at $19.72B. The primary driver is Refined copper and copper alloys (HS 7403), contributing 86.01% ($16.96B) of the sector’s total exports.

What are the main industries driving Chile's economy?

Chile’s economy is heavily reliant on mining, with the top three industries being:

1. Ores, slag and ash (HS 26): $28.55B (30.07%)
2. Copper and articles thereof (HS 74): $19.72B (20.77%)
3. Inorganic chemicals (HS 28): $9.55B (10.06%)

How to find Chile Ores, slag and ash suppliers?

You can access a list of active suppliers and exporters for Ores, slag and ash (HS 26) using the yTrade database, which provides detailed shipment records and company contacts for verified exporters.

Detailed Quarterly Report

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