Chile’s 2023 Exports Reach $94.4 Billion with Boost in Asia Trade

Chile saw its exports reach $94.4 billion in 2023, a slight drop of 1.6% from the previous year, reported the ProChile agency.

Despite this, exports to Asia increased significantly. Asia emerged as the top market for Chile’s non-copper and non-lithium exports.

These exports to Asia totaled $14.749 billion, growing by 3.4% from last year. North America was the second-largest market, with exports worth $12.303 billion.

This represented a 1% increase. However, exports to South America fell by 5.1%, totaling $7.213 billion.

Exports excluding copper and lithium remained stable at $43.490 billion throughout 2023. A closer look reveals a mixed picture.

Non-copper and non-lithium goods dropped by 1.8% to $41.337 billion. In contrast, service exports surged by 55.5%, reaching $2.153 billion by year-end.

The service sector in Chile showed impressive growth.

It excelled particularly in information and communication technologies, research, and development, as well as in administration services.

Ignacio Fernández, ProChile’s Director General, commented on these results. He noted their positive impact, highlighting the diversification of Chile’s export portfolio.

Despite global trade challenges and geopolitical tensions, 2023’s figures matched those of 2022.

For the upcoming year, Fernández outlined a proactive strategy. It involves strengthening partnerships between the public and private sectors.

The aim is to increase the variety of exporting companies.

Additionally, the strategy includes exploring new markets and expanding the range of Chilean products and services.

This approach aims to enhance Chile’s position in global trade further.

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