Chile - United States Trade 2023 Whole Year: Deficit-Driven Exchange
Key Market Takeaways: Chile - United States Trade
The bilateral trade relationship between Chile and United States showed mixed performance with notable volatility in 2023.
- Deficit-Driven Trade: Chile ran a $2.85B trade deficit with the U.S. ($17.16B imports vs. $14.31B exports), reflecting consistent reliance on American goods.
- Resource-for-Tech Exchange: Chile - United States trade statistics reveal a complementary flow—Chile supplies copper (32.87% of exports) while the U.S. dominates in mineral fuels (45.56% of imports).
- Strategic Energy Dependency: The U.S. holds leverage as Chile’s top energy supplier, while Chile remains a critical raw material source for American industry.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-United States Trade Trend in Whole Year 2023
Chile Export Performance: Shipments to United States
- Total Volume: $14.31B in 2023.
- Growth Trend & Context: Mixed YoY performance—strong gains early (e.g., Feb: +41.25%) but contractions later (e.g., Apr: -15.15%, Dec: -9.21%). No news context provided.
- Key Volatility: March saw the highest export value ($1.77B, +19.56% MoM), while April had the sharpest drop (-33.82% MoM).
Chile Import Performance: Sourcing from United States
- Total Volume: $17.16B in 2023.
- Growth Trend & Context: Predominantly negative YoY trends (e.g., May: -36.53%, Jun: -38.14%), with only July flat (0% YoY). No news context to explain declines.
- Key Volatility: February posted the highest MoM jump (+38.63%), while June hit the lowest value ($1.41B, -38.14% YoY).
Chile - United States Trade Balance & Market Dynamics
- Net Position: Trade deficit of $2.85B (Imports $17.16B > Exports $14.31B).
- Relationship Status: Chile remains a net importer from the U.S., with imports consistently outpacing exports throughout 2023.
Chile Import Trend from United States 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 1.10B | -18.58% | -15.66% |
| Feb | 1.52B | 38.63% | 8.41% |
| Mar | 1.52B | -0.29% | -7.7% |
| Apr | 1.61B | 6.03% | -7.73% |
| May | 1.47B | -8.48% | -36.53% |
| Jun | 1.41B | -4.64% | -38.14% |
| Jul | 1.44B | 2.83% | 0.0% |
| Aug | 1.58B | 9.02% | -34.13% |
| Sep | 1.45B | -8.07% | -15.47% |
| Oct | 1.50B | 3.41% | -15.22% |
| Nov | 1.34B | -10.73% | -28.42% |
| Dec | 1.23B | -8.06% | -8.92% |
| Total | 17.16B | - | - |
Chile Export Trend to United States 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 1.23B | 9.57% | 28.19% |
| Feb | 1.48B | 20.83% | 41.25% |
| Mar | 1.77B | 19.56% | 17.26% |
| Apr | 1.17B | -33.82% | -15.15% |
| May | 1.24B | 6.08% | -8.0% |
| Jun | 1.19B | -4.56% | -2.84% |
| Jul | 1.01B | -14.66% | 0.0% |
| Aug | 1.14B | 12.66% | 0.08% |
| Sep | 1.00B | -12.11% | 2.04% |
| Oct | 1.06B | 6.1% | 15.85% |
| Nov | 989.17M | -7.04% | -1.69% |
| Dec | 1.02B | 2.71% | -9.21% |
| Total | 14.31B | - | - |
Get Historical Chile United States Trade Records
Chile-United States Top Trading Products in Whole Year 2023
Chile Export Profile: What Does Chile Sell to United States
- Top Commodity: Rank #1 export is Copper (HS 74), accounting for 32.87% of total exports to the U.S.
- Demand Driver: The U.S. imports raw materials like copper for industrial processing, reflecting Chile's role as a key supplier of minerals.
- Concentration: Trade is moderately concentrated, with the top 3 exports (copper, fish, and edible fruits) making up 62.99% of total exports.
Chile Import Profile: What Does Chile Buy from United States
- Top Commodity: Rank #1 import is Mineral Fuels (HS 27), representing 45.56% of total imports from the U.S.
- Dependency Nature: Chile relies heavily on U.S. energy exports (mineral fuels), indicating a strategic energy security dependency.
Chile - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Chile exports raw materials (copper, fish, fruits) and imports energy and machinery (mineral fuels, industrial equipment).
- Value Chain Position: The U.S. holds the higher value-add position, supplying advanced machinery (HS 84, 85) while Chile provides primary commodities.
Import Analysis by Product: United States to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 7.82B | 45.56% |
| 84 | 2.39B | 13.92% |
| 87 | 997.84M | 5.81% |
| 85 | 591.92M | 3.45% |
| 28 | 542.45M | 3.16% |
| 29 | 503.51M | 2.93% |
| 90 | 466.88M | 2.72% |
| 39 | 382.87M | 2.23% |
| 40 | 362.35M | 2.11% |
| 30 | 307.88M | 1.79% |
Export Analysis by Product: Chile to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 4.70B | 32.87% |
| 03 | 2.86B | 19.99% |
| 08 | 1.45B | 10.13% |
| 44 | 1.02B | 7.10% |
| 28 | 634.82M | 4.44% |
| 71 | 521.34M | 3.64% |
| 40 | 423.28M | 2.96% |
| 27 | 415.86M | 2.91% |
| 72 | 223.45M | 1.56% |
| 20 | 215.22M | 1.50% |
Check Detailed Chile-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Chile - United States trade relationship is expected to remain volatile in the near term, with Chile’s export performance hinging on global copper demand and energy prices. While Chile’s resource-driven exports (copper, fish, fruits) will continue to find a stable market in the U.S., the persistent trade deficit ($2.85B in 2023) signals vulnerability to external shocks. Given the mixed YoY trends—sharp contractions in imports and erratic export growth—traders should brace for price fluctuations, particularly in mineral fuels (HS 27) and copper (HS 74). Without structural shifts, Chile’s reliance on U.S. energy imports will keep the trade balance tilted in favor of the U.S.
Strategic Moves
- Lock in Long-Term Supply Contracts: Chilean copper exporters should secure fixed-price agreements with U.S. buyers to mitigate volatility, especially as industrial demand rebounds.
- Diversify Energy Sources: Reduce dependency on U.S. mineral fuels by accelerating partnerships with alternative suppliers (e.g., LNG from Australia or renewables investment).
- Push Value-Added Exports: Chilean agribusinesses must capitalize on U.S. demand for premium goods (e.g., processed fruits, organic seafood) to offset reliance on raw material sales.
Frequently Asked Questions
How did Chile - United States trade perform in 2023 Whole Year?
Chile exported $14.31B to the U.S. with mixed YoY growth, while imports totaled $17.16B, showing predominantly negative trends.
What are the top exports from Chile to United States?
Copper (HS 74), fish, and edible fruits are Chile’s top exports, accounting for 62.99% of total shipments to the U.S.
What does Chile import from United States?
Mineral fuels (HS 27) dominate Chile’s imports from the U.S., representing 45.56% of total purchases.
What is the trade balance between Chile and United States?
Chile recorded a trade deficit of $2.85B in 2023, with imports consistently exceeding exports.
Top Chile Imports 2025 Q2: Market Insights
Discover Chile's top import product trends in 2025 Q2, with mineral fuels and machinery leading the charge. Explore the origins and insights on yTrade.
Chile - United States Trade 2023 Q1: Copper Fuels Surplus
Chile's trade surplus with the U.S. hit $340M in Q1 2023, driven by copper exports. Explore Chile United States trade trends and top trading products via yTrade data.
