Top Chile Imports 2023 Q1: Market Insight

Chile Import Portfolio Overview in 2023 Q1

• Mineral fuels and oils (HS 27) dominate at 23.21% of total imports, followed by machinery (HS 84) at 11.12% and vehicles (HS 87) at 9.63%.
• Concentration risk is moderate: the top three sectors account for 44% of imports, but no single category exceeds 25%.
• This structure reflects Chile’s heavy reliance on imported energy and capital goods to support its resource-extractive economy and infrastructure development.

Table: Chile Top Import Product in 2023 Q1 (Source: yTrade)

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Import Key Driver: Mineral Fuels and Oils

• The sector is driven by petroleum oils (HS 2710), accounting for 47.66% of HS 27 imports.
• This is a raw material import, primarily crude and refined petroleum.
• Chile depends on fuel imports due to limited domestic oil reserves, despite its mining and energy-intensive industries. This exposes the economy to global price volatility and supply chain disruptions.

Table: HS Code 27 Detailed Breakdown

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Import Key Driver: Machinery and Mechanical Appliances

• The leading product is automatic data processing machines (HS 8471), representing 12.88% of HS 84 imports.
• These are capital goods, acting as a complement to fuel imports by enabling industrial and mining operations.
• Machinery imports are strategically critical for maintaining and modernizing Chile’s mining sector, a core economic pillar, and supporting broader industrial productivity.

Table: HS Code 84 Detailed Breakdown

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Import Key Driver: Vehicles and Parts

• The key product is motor cars (HS 8703), comprising 40.95% of HS 87 imports.
• These are finished goods, indicating consumer and commercial demand for transportation.
• Vehicle imports represent stable, legacy demand linked to urban mobility, logistics, and economic activity, rather than emerging growth. They support Chile’s distributed geography and export logistics chains.

Table: HS Code 87 Detailed Breakdown

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Frequently Asked Questions

What is Chile's largest import commodity in 2023 Q1?

The largest import category is Mineral fuels, mineral oils and products of their distillation (HS 27), valued at $4.90B. This sector is primarily driven by imports of Petroleum oils and oils obtained from bituminous minerals (HS 2710), which alone accounted for $2.34B (47.66%).

Which specific Mineral fuels products does Chile import most in 2023 Q1?

Within the Mineral fuels sector, the top imports are:

1. Petroleum oils (HS 2710) at $2.34B (47.66%)
2. Crude oil (HS 2709) at $1.46B (29.79%)
3. Petroleum gases (HS 2711) at $733.67M (14.96%).

Does Chile import Nuclear reactors and machinery in 2023 Q1?

Yes. Nuclear reactors, boilers, and machinery (HS 84) is the second-largest import sector, valued at $2.35B. The top product category is Automatic data processing machines (HS 8471), contributing $302.50M (12.88%).

What are the main industries driving Chile's economy?

Chile’s import economy is heavily reliant on three sectors:

1. Mineral fuels (HS 27, 23.21%)
2. Machinery (HS 84, 11.12%)
3. Vehicles (HS 87, 9.63%).
   Together, these account for 44% of total imports, indicating moderate diversification.

How to find Chile Mineral fuels buyers?

You can access a list of active overseas buyers and importers for Mineral fuels (HS 27) using the yTrade database, which provides detailed shipment records and company contacts.