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2022
Economic Complexity
Trade -0.18Rank 74 of 133
2021
Economic Complexity
Technology 0.86Rank 26 of 96
2022
Economic Complexity
Research 1.22Rank 20 of 135
2022
Product
Exports | Imports $99B | $96.4B44 of 226 |  43 of 226
2022
Per Capita Product
Exports | Imports $5.05k | $4.92k65 of 220 |  84 of 220

About

Overview In 2022, Chile was the number 45 economy in the world in terms of GDP (current US$), the number 44 in total exports, the number 43 in total imports, the number 62 economy in terms of GDP per capita (current US$) and the number 74 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Chile are Copper Ore ($22.8B), Refined Copper ($18.4B), Carbonates ($7.72B), Fish Fillets ($3.91B), and Raw Copper ($2.97B), exporting mostly to China ($38.5B), United States ($13.9B), Japan ($7.43B), South Korea ($6.13B), and Brazil ($4.55B).

In 2022, Chile was the world's biggest exporter of Copper Ore ($22.8B), Refined Copper ($18.4B), Carbonates ($7.72B), Pitted Fruits ($2.45B), and Molybdenum Ore ($1.85B)

Imports The top imports of Chile are Refined Petroleum ($11.5B), Cars ($4.82B), Crude Petroleum ($4.64B), Delivery Trucks ($3.39B), and Petroleum Gas ($2.72B), importing mostly from China ($24.9B), United States ($21.6B), Brazil ($9.17B), Argentina ($5.11B), and Germany ($2.98B).

In 2022, Chile was the world's biggest importer of Sulfuric Acid ($754M)

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

Latest Trends

August, 2024

About

Overview In August 2024 Chile exported $8.23B and imported $5.45B, resulting in a positive trade balance of $2.79B. Between August 2023 and August 2024 the exports of Chile have increased by $340M (4.31%) from $7.89B to $8.23B, while imports decreased by $-663M (-10.8%) from $6.11B to $5.45B.

Trade In August 2024, the top exports of Chile were Copper Ore ($2.6B), Refined Copper ($1.59B), Fish Fillets ($312M), Commodities not elsewhere specified ($268M), and Sulfate Chemical Woodpulp ($250M). In August 2024 the top imports of Chile were Laboratory Reagents ($365M), Medical Instruments ($298M), Telephones ($294M), Bovine Meat ($235M), and Motor vehicles; parts and accessories (8701... ($149M).

Origins In August 2024 the exports of Chile were mainly from Las Condes ($3.43B), Santiago ($1.97B), Puerto Montt ($297M), Providencia ($206M), and Antofagasta ($203M), while imports destinations were mainly Las Condes ($2.16B), Providencia ($598M), Huechuraba ($468M), Quilicura ($429M), and Santiago ($284M).

Destinations In August 2024, Chile exported mostly to China ($2.46B), United States ($1.71B), Japan ($689M), South Korea ($504M), and Brazil ($442M), and imported mostly from United States ($1.55B), Switzerland ($909M), Chile ($355M), China ($317M), and Brazil ($305M).

Growth In August 2024, the increase in Chile's year-by-year exports was explained primarily by an increase in exports to United States ($478M or 38.6%), Japan ($164M or 31.3%), and Spain ($120M or 93.7%), and product exports increase in Copper Ore ($727M or 38.7%), Refined Copper ($358M or 29%), and Acyclic Alcohols ($29.7M or 129%). In August 2024, the decrease in Chile's year-by-year imports was explained primarily by an decrease in imports from United States ($-583M or -27.4%), Panama ($-197M or -64.8%), and Sweden ($-153M or -76.8%), and product imports decrease in Bovine Meat ($-112M or -32.3%), Telephones ($-80.6M or -21.5%), and Computers ($-70.5M or -35.5%).

Latest Trade

Time Scale
Flow
Color
Depth
EXPORT GROWTH (August 2023 - August 2024)$340M(4.31%)
IMPORT GROWTH (August 2023 - August 2024)$-663M(-10.8%)
MAIN EXPORTER (August 2024)Las Condes$3.43B
MAIN DESTINATION (August 2024)China$2.46B

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.

For full datasets download visit Bulk Download page.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Copper Ore$22.8B
Top Destination (2022)China$38.5B

In 2022, Chile exported a total of $99B, making it the number 44 exporter in the world. During the last five reported years the exports of Chile have changed by $29.4B from $69.6B in 2017 to $99B in 2022.

The most recent exports are led by Copper Ore ($22.8B), Refined Copper ($18.4B), Carbonates ($7.72B), Fish Fillets ($3.91B), and Raw Copper ($2.97B). The most common destination for the exports of Chile are China ($38.5B), United States ($13.9B), Japan ($7.43B), South Korea ($6.13B), and Brazil ($4.55B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
View
Growth
Fastest Growing Export Markets (2021 - 2022)
China$1.94B (+ 5.3%)
South Korea$1.28B (+ 26.4%)
Mexico$383M (+ 27.6%)
Fastest Growing Import Markets (2021 - 2022)
United States$6.04B (+ 38.8%)
Brazil$2.02B (+ 28.3%)
Argentina$1.18B (+ 30%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

Type
Flow
Depth
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Service Trade

Service Trade

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).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)-0.18Rank 74 of 133
Economic Complexity (Technology)0.86Rank 26 of 96
Economic Complexity (Research)1.22Rank 20 of 135

Most Specialized Products by RCA Index

Chile has a high level of specialization in Halogens (103), Carbonates (95.7), Molybdenum Ore (73.5), Nitrites and Nitrates (70.5), and Pitted Fruits (68.6). 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

The highest complexity exports of Chile according to the product complexity index (PCI) are Natural polymers (e.g. alginic acid) and modified natural polymers (e.g. hardened proteins,... (0.85), Binoculars, monoculars, other optical telescopes, mountings therefore; other astronomical instruments, mountings therefore,... (0.73), Tin; bars, rods, profiles and wire (0.73), Meat of swine; fresh, chilled or frozen (0.65), and Paper and paperboard, coated one or both sides with kaolin (china clay)... (0.59). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Chile according to the relatedness index, were Manganese Ore (0.17), Gold (0.17), Precious Metal Ore (0.17), Crustaceans (0.16), and Crude Petroleum (0.16). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Chile is not specialized in.

Product Space

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

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.

Relatedness Space (2022)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Chile's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨54th 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.

Explore Rankings

ECI (Trade) Ranking by Country

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