Chile2020 Economic Complexity : -0.2, Rank 70 of 127
2020 Product Exports | Imports: $74.8B | $56.4B, 40 of 226 | 46 of 226
2020 Per Capita Product Exports | Imports: $3.91k | $2.95k, 36 of 219 | 92 of 219
2019 Service Exports | Imports : $9.42B | $14.5B, 54 of 108 | 43 of 108
Overview In 2020, Chile was the number 44 economy in the world in terms of GDP (current US$), the number 40 in total exports, the number 46 in total imports, the number 69 economy in terms of GDP per capita (current US$) and the number 70 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Chile are Copper Ore ($21.4B), Refined Copper ($14.5B), Fish Fillets ($2.57B), Sulfate Chemical Woodpulp ($2.1B), and Pitted Fruits ($1.96B), exporting mostly to China ($28.6B), United States ($9.94B), Japan ($6.41B), South Korea ($4.11B), and Brazil ($3.07B).
In 2020, Chile was the world's biggest exporter of Copper Ore ($21.4B), Refined Copper ($14.5B), Pitted Fruits ($1.96B), Molybdenum Ore ($1.24B), and Grapes ($1.18B)
Imports The top imports of Chile are Refined Petroleum ($2.91B), Broadcasting Equipment ($2.12B), Crude Petroleum ($1.9B), Cars ($1.66B), and Delivery Trucks ($1.34B), importing mostly from China ($15.7B), United States ($10.7B), Brazil ($3.95B), Argentina ($2.91B), and Germany ($2.24B).
Location Chile borders Argentina, Bolivia, and Peru by land.
December, 2022
Overview In December 2022 Chile exported $8.14B and imported $6.1B, resulting in a positive trade balance of $2.04B. Between December 2021 and December 2022 the exports of Chile have decreased by $-463M (-5.38%) from $8.6B to $8.14B, while imports decreased by $-1.73B (-22.1%) from $7.83B to $6.1B.
Trade In December 2022, the top exports of Chile were Copper Ore ($1.74B), Refined Copper ($1.34B), Carbonates ($723M), Pitted Fruits ($610M), and Commodities not elsewhere specified ($387M). In December 2022 the top imports of Chile were Telephones ($462M), Bovine Meat ($296M), Computers ($243M), Excavation Machinery ($231M), and Medical Instruments ($208M).
Origins In December 2022 the exports of Chile were mainly from Las Condes ($3.64B), Santiago ($1.59B), Puerto Montt ($368M), Providencia ($181M), and Vitacura ($176M), while imports destinations were mainly Las Condes ($1.57B), Providencia ($912M), Conchalí ($594M), Quilicura ($515M), and Huechuraba ($462M).
Destinations In December 2022, Chile exported mostly to China ($3.51B), United States ($967M), Japan ($773M), South Korea ($413M), and Brazil ($358M), and imported mostly from United States ($2.07B), Switzerland ($563M), Sweden ($519M), China ($398M), and Brazil ($295M).
Growth In December 2022, the decrease in Chile's year-by-year exports was explained primarily by an decrease in exports to Switzerland ($-49.9M or -56.8%), Bulgaria ($-36.4M or -99.5%), and Bolivia ($-27.6M or -56.9%), and product exports decrease in Copper Ore ($-172M or -7.25%), Gold ($-65.1M or -70.6%), and Iron Ore ($-51M or -34%). In December 2022, the decrease in Chile's year-by-year imports was explained primarily by an decrease in imports from Argentina ($-152M or -53.9%), Taiwan ($-129M or -89.1%), and Chile ($-43M or -30.5%), and product imports decrease in Computers ($-103M or -36.8%), Industrial Printers ($-40.9M or -44.3%), and Pens ($-37.4M or -83.1%).
EXPORT GROWTH (December 2021 - December 2022): $-463M, (-5.38%)
IMPORT GROWTH (December 2021 - December 2022): $-1.73B, (-22.1%)
MAIN EXPORTER (December 2022): Las Condes, $3.64B
MAIN DESTINATION (December 2022): China, $3.51B
This section shows exports and imports data at subnational level for Chile. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Chile over time.
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Top Export (2020): Copper Ore, $21.4B
Top Destination (2020): China, $15.7B
In 2020, Chile exported a total of $74.8B, making it the number 40 exporter in the world. During the last five reported years the exports of Chile have changed by $11.2B from $63.6B in 2015 to $74.8B in 2020.
The most recent exports are led by Copper Ore ($21.4B), Refined Copper ($14.5B), Fish Fillets ($2.57B), Sulfate Chemical Woodpulp ($2.1B), and Pitted Fruits ($1.96B). The most common destination for the exports of Chile are China ($28.6B), United States ($9.94B), Japan ($6.41B), South Korea ($4.11B), and Brazil ($3.07B).
Chile Exports Services (2019): $9.42B
Chile Imports Services (2019): $14.5B
In 2019, Chile exported $9.42B worth of services. The top services exported by Chile in 2019 were Transportation ($3B), Other business services ($2.54B), Personal travel ($2.04B), Computer and information services ($480M), and Business travel ($339M).
The top services imported by Chile in 2019 were Transportation ($4.9B), Other business services ($3B), Personal travel ($2.14B), Royalties and license fees ($1.76B), and Financial services ($894M).
Chile has a high level of specialization in Halogens (92.7), Copper Ore (77.5), Molybdenum Ore (72.4), Pitted Fruits (57.2), and Nitrites and Nitrates (55.5). Specialization is measured using RCA, an index that takes the ratio between Chile observed and expected exports in each product.
The highest complexity exports of Chile according to the product complexity index (PCI) are Kaolin Coated Paper (0.72), Pig Meat (0.7), Natural Polymers (0.69), Planes, Helicopters, and/or Spacecraft (0.54), and Animal Fat (0.53). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Chile according to the relatedness index, are Wool (0.17), Manganese Ore (0.17), Gold (0.16), Crustaceans (0.15), and Other Ores (0.15). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Chile's economy has become relatively less complex, moving from the 40th to the 70th 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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