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.
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 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.