Chile’s $30 Billion Trade in Early 2024

Between January and February 2024, Chile’s trade totaled $30.184 billion, marking a minor decline of 0.73% compared to the same period in the previous year.

The Ministry of Foreign Affairs’ Undersecretariat for International Economic Relations (Subrei) shared these details.

They used data from Customs and the Central Bank. Exports were $16.699 billion, and imports were $13.484 billion.

Claudia Sanhueza, the Undersecretary, found a silver lining despite the dip. She saw growth in key areas.

These areas helped Chile’s economy and made its exports more varied.

Mining was the top exporting sector, making up 49% of exports, totaling $8.184 billion.

The food sector was next, rising to $2.185 billion, up by 6%. Salmon, dried fruits, and frozen fruits did especially well.

Wine sales abroad also grew. They went up by 12%, reaching $255.4 million.

Sanhueza pointed out a record in exporting companies. In the first two months of 2024, 4,341 companies exported goods.

This was the highest in 30 years. Out of these, 41% were small and medium-sized enterprises (SMEs). They came from diverse sectors.

This report matters as it shows Chile’s trade health and growth areas. It highlights the role of diverse sectors in building a resilient economy.

The increase in exporting companies, especially SMEs, suggests a vibrant business environment. This diversification is crucial for Chile’s economic stability and growth.