Overview: In 2019 Chile was the number 41 economy in the world in terms of GDP (current US$), the number 44 in total exports, the number 45 in total imports, the number 61 economy in terms of GDP per capita (current US$) and the number 77 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Chile are Copper Ore ($18.4B), Refined Copper ($13.4B), Sulfate Chemical Woodpulp ($2.82B), Fish Fillets ($2.79B), and Pitted Fruits ($1.96B), exporting mostly to China ($22.6B), United States ($9.74B), Japan ($6.38B), South Korea ($4.71B), and Brazil ($3.17B).

In 2019, Chile was the world's biggest exporter of Copper Ore ($18.4B), Refined Copper ($13.4B), Pitted Fruits ($1.96B), Molybdenum Ore ($1.38B), and Grapes ($1.38B)

Imports: The top imports of Chile are Refined Petroleum ($4.22B), Crude Petroleum ($3.59B), Cars ($3.46B), Broadcasting Equipment ($2.11B), and Delivery Trucks ($2.01B), importing mostly from China ($15.9B), United States ($13.4B), Brazil ($5.24B), Germany ($3.29B), and Argentina ($3.15B).

In 2019, Chile was the world's biggest importer of Sulfuric Acid ($323M)

Location: Chile borders Argentina, Bolivia, and Peru by land.

Latest Trends (May, 2021)

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Overview: In May 2021 Chile exported $6.96B and imported $5.74B, resulting in a positive trade balance of $1.22B. Between May 2020 and May 2021 the exports of Chile have increased by $2.03B (41.2%) from $4.93B to $6.96B, while imports increased by $2.46B (75%) from $3.28B to $5.74B.

Trade: In May 2021, the top exports of Chile were Copper Ore ($2.38B), Refined Copper ($1.33B), Fish Fillets ($228M), Commodities not elsewhere specified ($204M), and Raw Copper ($194M). In May 2021 the top imports of Chile were Telephones ($439M), Computers ($344M), Flat Flat-Rolled Steel ($206M), Bovine Meat ($187M), and Medical Instruments ($174M).

Origins: In May 2021 the exports of Chile were mainly from Las Condes ($2.82B), Santiago ($1.77B), Puerto Montt ($250M), La Serena ($171M), and Providencia ($159M), while imports destinations were mainly Las Condes ($1.21B), Santiago ($906M), Providencia ($816M), Huechuraba ($612M), and Quilicura ($525M).

Destinations: In May 2021, Chile exported mostly to China ($2.33B), United States ($1.13B), Japan ($564M), Brazil ($362M), and South Korea ($347M), and imported mostly from United States ($1.82B), Switzerland ($556M), China ($379M), Hong Kong ($373M), and Argentina ($268M).

Growth: In May 2021, the increase in Chile's year-by-year exports was explained primarily by an increase in exports to China ($556M or 31.3%), United States ($440M or 63.9%), and Japan ($220M or 64.1%), and product exports increase in Copper Ore ($1.32B or 124%), Refined Copper ($366M or 38%), and Commodities not elsewhere specified ($93.5M or 84.4%). In May 2021, the increase in Chile's year-by-year imports was explained primarily by an increase in imports from United States ($878M or 93.5%), Hong Kong ($281M or 304%), and Switzerland ($246M or 79.2%), and product imports increase in Telephones ($278M or 172%), Computers ($220M or 178%), and Flat Flat-Rolled Steel ($183M or 822%).

Historical Data

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Yearly Exports

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Value
Depth

Top Export (2019): Copper Ore, $18.4B

Top Destination (2019): China, $22.6B

In 2019, Chile exported a total of $71.1B, making it the number 44 exporter in the world. During the last five reported years the exports of Chile have changed by -$5.94B from $77B in 2014 to $71.1B in 2019.

The most recent exports are led by Copper Ore ($18.4B), Refined Copper ($13.4B), Sulfate Chemical Woodpulp ($2.82B), Fish Fillets ($2.79B), and Pitted Fruits ($1.96B). The most common destination for the exports of Chile are China ($22.6B), United States ($9.74B), Japan ($6.38B), South Korea ($4.71B), and Brazil ($3.17B).

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Yearly Imports

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Value
Depth

Top Import (2019): Refined Petroleum, $4.22B

Top Origin (2019): China, $15.9B

In 2019 Chile imported $67B, making it the number 45 trade destination in the world. During the last five reported years the imports of Chile changed by -$293M from $67.2B in 2014 to $67B in 2019.

The most recent imports of Chile are led by Refined Petroleum ($4.22B), Crude Petroleum ($3.59B), Cars ($3.46B), Broadcasting Equipment ($2.11B), and Delivery Trucks ($2.01B). The most common import partners for Chile are China ($15.9B), United States ($13.4B), Brazil ($5.24B), Germany ($3.29B), and Argentina ($3.15B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Chile Exports Services (2018): $10.3B

Chile Imports Services (2018): $14.3B

In 2018, Chile exported $10.3B worth of services. The top services exported by Chile in 2018 were Transportation ($3.22B), Other business services ($2.66B), Personal travel ($2.53B), Business travel ($422M), and Government services, n.i.e. ($408M).

The top services imported by Chile in 2018 were Transportation ($5B), Other business services ($2.99B), Personal travel ($2.05B), Royalties and license fees ($1.78B), and Financial services ($843M).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Chile are 1,2-dichloroethane(ethylene dichloride) (6%) and 1-chloro-2,3-epoxypropane(epichlorohy-drin) (6%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Chile are:
23: AAP.AG N° 02 - Acuerdo de Alcance Parcial para la Liberación y Expansión del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM80
30: AAP.CE N° 22 Acuerdo de Complementación Económica N° 22
31: AAP.CE N° 23 Acuerdo de Complementación Económica N° 23
32: AAP.CE N° 24 Acuerdo de Complementación Económica para el Establecimiento de un Espacio Ampliado entre Colombia y Chile (acuerdo N° 24)
33: AAP.CE N° 32 Acuerdo de Complementación Económica N° 32 Suscrito entre Chile y Ecuador (Acuerdos posteriores relacionados: AAP.CE N° 65)
35: AAP.CE N° 35 - Complementación Económica entre MERCOSUR y Chile
38: AAP.CE N° 38 Acuerdo de Complementación Económica N° 38 Suscrito entre la República de Chile y la República del Perú
40: AAP.CE N° 41 Tratado de Libre Comercio
41: AAP.CE N° 42 Acuerdo de Complementación Económica N° 42 Celebrado entre la República de Cuba y la República de Chile
79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia
80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay
82: AR.CEYC N° 7 Acuerdo de Cooperación e Intercambio en las Áreas Cultural, Educacional y Científica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, México, Panamá, Paraguay, Perú, Uruguay)
83: AR.PAR N° 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador México Panamá Paraguay Perú Uruguay Venezuela)
136: Most Favoured Nation duty rate treatement
153: Preferential tafiff for Malaysia
178: Preferential tariff for Canada
184: Preferential tariff for China
192: Preferential tariff for Costa Rica
207: Preferential tariff for El Salvador
219: Preferential tariff for European Union countries (AA) Association Agreement
238: Preferential tariff for Iceland
239: Preferential tariff for India
246: Preferential tariff for Japan
249: Preferential tariff for Korea, Republic of
254: Preferential tariff for Least Developed Countries
279: Preferential tariff for Nicaragua
281: Preferential tariff for Norway
285: Preferential tariff for Panama
306: Preferential tariff for Switzerland
309: Preferential tariff for Thailand
315: Preferential tariff for The Pacific Alliance between Chile, Colombia, Mexico and Peru (Spanish: Alianza del Pacífico)
319: Preferential tariff for Trans-Pacific countries
328: Preferential tariff for United States
333: Preferential tariff for Vietnam
377: Tratado Libre Comercio Chile - Australia (TLCCH-AUS) 63
378: Tratado Libre Comercio Chile - China (Hong Kong) (TLC-CHCHI) 96
379: Tratado Libre Comercio Chile - Guatemala (TLCCH-GU) 65
380: Tratado Libre Comercio Chile - Honduras (TLCCH-HON) 61
381: Tratado Libre Comercio Chile - Turkey (TLCCH-TURQ) 66

Economic Complexity

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Most Specialized Products by RCA Index

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Chile has a high level of specialization in Halogens (102), Copper Ore (78.3), Molybdenum Ore (72.3), Pitted Fruits (67.6), and Nitrites and Nitrates (60.9). Specialization is measured using RCA, an index that takes the ratio between Chile observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Chile according to the product complexity index (PCI) are Paper, board, clay, inorganic coated at least one side (0.9), Meat of swine, fresh, chilled or frozen (0.85), Woven fabric of combed wool or fine animal hair (0.6), Polymers, natural, modified nes, in primary forms (0.59), and Pig and poultry fat, unrendered (0.58). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Chile according to the relatedness index, are Maté (0.19), Manganese Ore (0.19), Uranium and Thorium Ore (0.18), Tin Ores (0.18), and Crustaceans (0.18). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Chile is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of Chile. These are products that tend to be co-exported with the products that Chile exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Economic Complexity Ranking

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Scale

During the last 20 years Chile's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨43rd to the 77th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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