Chilean Exports Soar to Record Heights in 2024

Chile’s exports have reached unprecedented levels in 2024, setting new records for the country’s economy. The Undersecretariat of International Economic Relations (Subrei) reported remarkable growth in goods and services exports through September.

Data from the Central Bank of Chile and the National Customs Service reveal impressive figures. Goods exports from the South American nation amounted to $74.15 billion, marking a 4.3% increase from the previous year.

Service exports also demonstrated significant growth, totaling $2.01 billion. This sector showcased diversity with 192 different types of services offered, representing a 22% year-on-year increase.

Claudia Sanhueza, Subrei’s undersecretary, highlighted the export sector’s importance to Chile’s economy. She noted that exports account for one-third of the country’s Gross Domestic Product, with substantial participation from small and medium-sized enterprises.

The mining industry set a new record for the period, with shipments worth $42.72 billion. This figure represents a 10.7% increase compared to 2023, underscoring the sector’s robust performance.

Fresh fruit exports also showed notable growth. Kiwis, plums, cherries, lemons, grapes, apples, pears, blueberries, and avocados all experienced increased shipments, contributing to the overall export surge.

The wine sector contributed significantly, with foreign sales reaching $1.20 billion. This 6% increase was primarily driven by the bottled wine category, showcasing the industry’s resilience and global appeal.

Machinery and equipment sales abroad totaled $956.3 million, reflecting a 12.5% expansion. This growth was fueled by increased transactions in mining machinery, agro-industrial equipment, and industrial robots.

Chilean Exports Soar to Record Heights in 2024

However, the food industry experienced a slight 2% decline. This dip was attributed to reduced shipments of salmon and fish oils, despite increases in exports of meat, fresh vegetables, vegetable oils, dairy, and organic products.

In the services sector, the most traded offerings included cloud center services, aircraft maintenance and repair, logistical support, financial services for expert witnesses, and original software design.

These figures paint a picture of Chile’s thriving export economy. The country’s diverse range of goods and services continues to find success in international markets, driving economic growth and prosperity.