Overview: In 2018 Chile was the number 40 economy in the world in terms of GDP (current US$), the number 43 in total exports, the number 45 in total imports,
the number 59 economy in terms of GDP per capita (current US$) and the number 74 most complex economy according to the Economic Complexity Index (ECI)
In 2018, Chile exported a total of $76.7B, making it the number 43 exporter in the world. During the last five reported years the exports of Chile have changed by -$2.07B from $78.7B in 2013 to $76.7B in 2018.
In 2018 Chile imported $71B, making it the number 45 trade destination in the world. During the last five reported years the imports of Chile changed by -$5.73B from $76.7B in 2013 to $71B in 2018.
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).
This section shows forecasts for total product exports and imports for Chile. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*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 TM8030: AAP.CE N° 22 Acuerdo de Complementación Económica N° 2231: AAP.CE N° 23 Acuerdo de Complementación Económica N° 2332: 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 Chile38: AAP.CE N° 38 Acuerdo de Complementación Económica N° 38 Suscrito entre la República de Chile y la República del Perú40: AAP.CE N° 41 Tratado de Libre Comercio41: AAP.CE N° 42 Acuerdo de Complementación Económica N° 42 Celebrado entre la República de Cuba y la República de Chile79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay82: 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 treatement153: Preferential tafiff for Malaysia178: Preferential tariff for Canada184: Preferential tariff for China192: Preferential tariff for Costa Rica207: Preferential tariff for El Salvador219: Preferential tariff for European Union countries (AA) Association Agreement238: Preferential tariff for Iceland239: Preferential tariff for India246: Preferential tariff for Japan249: Preferential tariff for Korea, Republic of254: Preferential tariff for Least Developed Countries279: Preferential tariff for Nicaragua281: Preferential tariff for Norway285: Preferential tariff for Panama306: Preferential tariff for Switzerland309: Preferential tariff for Thailand315: Preferential tariff for The Pacific Alliance between Chile, Colombia, Mexico and Peru (Spanish: Alianza del Pacífico)319: Preferential tariff for Trans-Pacific countries328: Preferential tariff for United States333: Preferential tariff for Vietnam377: Tratado Libre Comercio Chile - Australia (TLCCH-AUS) 63378: Tratado Libre Comercio Chile - China (Hong Kong) (TLC-CHCHI) 96379: Tratado Libre Comercio Chile - Guatemala (TLCCH-GU) 65380: Tratado Libre Comercio Chile - Honduras (TLCCH-HON) 61381: Tratado Libre Comercio Chile - Turkey (TLCCH-TURQ) 66
During the last 20 years Chile's economy has become relatively less complex, moving from the 42nd to the 74th 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.
Chile has a high level of specialization in Halogens (86.4), Molybdenum Ore (75.5), Copper Ore (69.7), Nitrites and Nitrates (69.3), and Refined Copper (55.6). Specialization is measured using RCA, an index that takes the ratio between Chile observed and expected exports in each product.
The top export opportunities for Chile according to the relatedness index, are Maté (0.18), Manganese Ore (0.17), Wool (0.17), Uranium and Thorium Ore (0.17), and Crude Petroleum (0.17). 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.
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.
Chile
