Top Chile Imports 2024 Q2: Energy & Machinery

Chile Import Portfolio Overview in 2024 Q2

• Mineral fuels (HS 27) lead imports at 20.42% ($4.11B), followed by machinery (HS 84) at 12.39% ($2.49B) and electrical equipment (HS 85) at 9.57% ($1.93B).
• Concentration risk is moderate: top three sectors account for 42.4% of total imports, reflecting Chile’s heavy reliance on energy and capital goods for its resource-extractive and industrial base.
• This structure underscores Chile’s role as a resource economy dependent on imported energy and technology to sustain mining, agriculture, and manufacturing output.

Table: Chile Top Import Product in 2024 Q2 (Source: yTrade)

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Import Key Driver: Mineral Fuels, Mineral Oils and Products of Their Distillation

• Crude petroleum (HS 2709) is the primary driver, valued at $1.22B and constituting 29.6% of sector imports.
• Product type is raw material, essential for fueling Chile’s mining operations, transportation, and power generation.
• Dominance exists due to Chile’s limited domestic oil reserves; it must import to support its copper-dominated mining sector—the world’s largest—and overall industrial activity.

Table: HS Code 27 Detailed Breakdown

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Import Key Driver: Nuclear Reactors, Boilers, Machinery and Mechanical Appliances

• Automatic data processing machines (HS 8471) lead this sector at $413.2M (16.6% of sector total).
• Acts as a complement to energy imports: machinery enables efficiency in mining, agriculture (e.g., fruit packing), and manufacturing, directly supporting export-oriented sectors.
• Strategic for maintaining Chile’s competitive edge in copper extraction and processed agricultural exports, reliant on high-tech equipment.

Table: HS Code 84 Detailed Breakdown

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Import Key Driver: Electrical Machinery and Equipment

• Telephone sets (HS 8517) dominate, with $488.47M (25.4% of sector imports).
• Role is dual: consumer goods for domestic market and infrastructure components (e.g., communication networks) for economic connectivity.
• Reflects stable, growing demand linked to urbanization, digitalization, and mining sector operational needs, though less directly tied to core resource exports than top two sectors.

Table: HS Code 85 Detailed Breakdown

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Frequently Asked Questions

What is Chile's largest import commodity in 2024 Q2?

The largest import category is Mineral fuels, mineral oils, and products of their distillation (HS 27), valued at $4.11B. This sector is primarily driven by imports of Petroleum oils and oils obtained from bituminous minerals (HS 2710), which alone account for 46.15% of the sector's total value.

Which specific Mineral fuels products does Chile import most in 2024 Q2?

Within the Mineral fuels sector, the top imports are:

1. Petroleum oils and oils obtained from bituminous minerals (HS 2710) - $1.89B
2. Petroleum oils and oils obtained from bituminous minerals, crude (HS 2709) - $1.22B
   Together, these two products make up 75.74% of Chile's HS 27 imports.

Does Chile import Nuclear reactors, boilers, and machinery in 2024 Q2?

Yes. Nuclear reactors, boilers, and machinery (HS 84) is the second-largest import sector, valued at $2.49B. The primary driver is Automatic data processing machines (HS 8471), accounting for 16.59% of the sector's imports.

What are the main industries driving Chile's economy?

Chile's import economy is heavily reliant on three key sectors:

1. Mineral fuels (HS 27) - $4.11B (20.42%)
2. Machinery (HS 84) - $2.49B (12.39%)
3. Electrical machinery (HS 85) - $1.93B (9.57%)
   Together, these three sectors represent 42.38% of total imports, indicating a concentrated reliance on energy and industrial equipment.

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 for HS 2710 and other subcategories.