Chile - United States Trade 2024 Q4: Robust Growth & Surplus
Key Market Takeaways: Chile - United States Trade
The bilateral trade relationship between Chile and United States showed robust growth with balanced trade in Q4 2024.
- Economic Pulse: Chile held a narrow $90M trade surplus ($3.87B exports vs. $3.78B imports), driven by strong YoY export growth (+14.9% to +34.1%) and a December rebound in U.S. shipments (+7.4% YoY).
- Exchange Structure: Chile - United States trade statistics reveal a resource-for-tech complementarity—Chile supplies copper (43.96% of exports) while importing U.S. refined fuels (34.26% of imports) and machinery.
- Strategic Interdependence: The partnership reflects stable, complementary ties, with Chile as a key raw material supplier and the U.S. providing high-value energy and industrial inputs.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-United States Trade Trend in Q4 2024
Chile Export Performance: Shipments to United States
- Total Volume: $3.87B in Q4 2024.
- Growth Trend & Context:
- Strong YoY growth across all months (Oct: +14.92%, Nov: +30.05%, Dec: +34.12%), signaling robust demand.
- No specific trade news to explain the surge, suggesting organic market expansion.
- Key Volatility: December posted the highest MoM gain (+5.93%) and YoY jump (+34.12%), likely year-end demand.
Chile Import Performance: Sourcing from United States
- Total Volume: $3.78B in Q4 2024.
- Growth Trend & Context:
- Mixed YoY performance (Oct: -12.24%, Nov: -14.54%, Dec: +7.41%), indicating uneven recovery.
- No news to contextualize the decline in October-November.
- Key Volatility: December rebounded sharply (+15.55% MoM, +7.41% YoY), possibly inventory restocking.
Chile - United States Trade Balance & Market Dynamics
- Net Position: Chile held a narrow trade surplus of $90M (Exports: $3.87B > Imports: $3.78B).
- Relationship Status: Balanced trade with slight exporter advantage, reflecting stable bilateral ties.
Chile Import Trend from United States 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 1.31B | 19.33% | -12.24% |
| Nov | 1.14B | -13.07% | -14.54% |
| Dec | 1.32B | 15.55% | 7.41% |
| Total | 3.78B | - | - |
Chile Export Trend to United States 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 1.22B | 3.91% | 14.92% |
| Nov | 1.29B | 5.2% | 30.05% |
| Dec | 1.36B | 5.93% | 34.12% |
| Total | 3.87B | - | - |
Get Historical Chile United States Trade Records
Chile-United States Top Trading Products in Q4 2024
Chile Export Profile: What Does Chile Sell to United States
- Top Commodity: Rank #1 export is HS 74 (Copper and articles thereof) at 43.96% of total exports.
- Demand Driver: United States buys these for industrial processing, likely for manufacturing and construction sectors.
- Concentration: Trade is highly concentrated, with copper alone accounting for nearly half of exports.
Chile Import Profile: What Does Chile Buy from United States
- Top Commodity: Rank #1 import is HS 27 (Mineral fuels, oils, and distillation products) at 34.26% of total imports.
- Dependency Nature: Reflects energy security dependency, as Chile relies on U.S. for refined petroleum products.
Chile - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Chile exports raw materials (copper, seafood) while importing energy and machinery.
- Value Chain Position: United States holds the higher value-add position, supplying refined fuels (HS 27) and machinery (HS 84), while Chile provides commodities like copper (HS 74) and fish (HS 03).
Import Analysis by Product: United States to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 1.29B | 34.26% |
| 84 | 670.46M | 17.75% |
| 87 | 347.57M | 9.20% |
| 85 | 170.87M | 4.52% |
| 90 | 121.01M | 3.20% |
| 39 | 118.83M | 3.15% |
| 28 | 108.34M | 2.87% |
| 40 | 91.38M | 2.42% |
| 30 | 81.11M | 2.15% |
| 38 | 76.15M | 2.02% |
Export Analysis by Product: Chile to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 1.70B | 43.96% |
| 03 | 669.36M | 17.29% |
| 44 | 311.94M | 8.06% |
| 08 | 210.51M | 5.44% |
| 28 | 151.42M | 3.91% |
| 71 | 115.80M | 2.99% |
| 40 | 82.64M | 2.13% |
| 27 | 68.71M | 1.77% |
| 85 | 50.67M | 1.31% |
| 22 | 44.65M | 1.15% |
Check Detailed Chile-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Chile’s trade with the United States is poised for sustained growth in 2025, driven by robust demand for copper (HS 74) and a rebound in U.S. energy exports (HS 27). The Q4 2024 surge in Chilean exports (+14.9% to +34.1% YoY) signals organic market expansion, while December’s import rebound (+7.4% YoY) suggests U.S. suppliers are regaining traction. However, traders should monitor volatility in energy imports and potential supply chain bottlenecks, as Chile’s dependency on refined fuels (34.3% of imports) leaves it exposed to global price swings.
Strategic Moves
- Lock in Copper Contracts: Chilean exporters must secure long-term agreements with U.S. industrial buyers to capitalize on stable demand, given copper’s 44% share of total exports. Fixed-price deals will mitigate commodity market fluctuations.
- Diversify Energy Suppliers: Reduce reliance on U.S. mineral fuels (HS 27) by negotiating backup contracts with alternative suppliers in Asia or the Middle East to hedge against price spikes or logistical disruptions.
- Push Non-Commodity Exports: Chilean firms should leverage the U.S. market’s appetite for premium goods (e.g., seafood, wine) to diversify beyond copper, using trade promotion programs to target niche sectors like organic food or renewable energy components.
Frequently Asked Questions
How did Chile - United States trade perform in 2024 Q4?
Chile's exports to the United States grew strongly YoY (+14.92% to +34.12%), totaling $3.87B, while imports showed mixed performance (-12.24% to +7.41%), reaching $3.78B.
What are the top exports from Chile to United States?
Copper and articles thereof (HS 74) dominated Chile's exports, accounting for 43.96% of total shipments to the United States.
What does Chile import from United States?
Mineral fuels, oils, and distillation products (HS 27) were the top import, making up 34.26% of Chile's purchases from the United States.
What is the trade balance between Chile and United States?
Chile held a narrow trade surplus of $90M in Q4 2024, with exports ($3.87B) slightly exceeding imports ($3.78B).
Chile - United States Trade 2024 Q3: Slowing Momentum
Chile's trade surplus with the U.S. narrows as copper exports slow. Explore Chile United States trade trends and top trading products via yTrade data.
Chile - United States Trade 2025 Q1: $380M Surplus
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