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

Historical Data

#permalink to section

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).

Explore Visualizations


Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

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).

Economic Complexity

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

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.

Most Complex Products by PCI

#permalink to section

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.

Export Opportunities by Relatedness

#permalink to section

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.

Relatedness Space

#permalink to section

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

#permalink to section

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.

Economic Complexity Ranking

#permalink to section

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.

Explore Rankings