Chile’s trade volume with China up 59.8% in February 2021 over 2020

RIO DE JANEIRO, BRAZIL – Trade between Chile and China continues to rise, registering an overall 59.8% hike in US dollars in February compared to the same month in 2020, according to the Foreign Trade Report prepared by the National Customs Service’s Studies Department.

In the breakdown of this same month, compared to 2020 results, exports posted a 61.3% hike, with US$2.2 billion in sales, while imports increased by 65.6% with purchases amounting to US$1,7 billion.

“These data confirm the significance of trade with China for the country, which has been Chile’s main trading partner since 2010. This also motivates us to continue conducting all customs processes as efficiently as possible, even more so in the context of the pandemic, aware of the relevance of the whole foreign trade logistics chain to boost domestic economy,” explained Chile’s national director of Customs, José Ignacio Palma.

Exports

During the period ranging from January 1st to February 28th, exports to China posted a positive variation of 39.8% with US$5,971.2 million in shipments. This means that the Asian giant was the main buyer of Chilean products with a 43.5% share of total exports.

Mining sector exports to China represented 69.1% of total shipments to the country, totaling US$4,125 million, an increase of 55.3% compared to the same period last year.

Within the range of mining products, copper ores and concentrates accounted for 63.8% of the mining sector’s exports, with copper accounting for the second largest share, at 29.3%.

Non-mining products accounted for 30.9% of shipments to China between January and February, totaling US$1,847 million. Fruits and nuts exports accounted for 72.7% and totaled US$1,343 million, an increase explained by the 67.8% rise recorded for cherries.

Forestry products and their derivatives accounted for 13.4% of domestic non-mining sales to China, with a positive variation of 9.9% compared to the same period in 2020, mainly due to the 22.6% increase in the amount of cellulose shipments. The other food group accounted for 5.8% of non-mining exports, and posted an 18.4% decline.

The wine sector posted a positive 16.5% variation, as a result of the increase in wine exports, which rose by 19.8%. Meanwhile, within seafood products, salmon and trout posted a drop of 93.8%.

Imports

Total imports from China between January 1st and February 28th, 2021 reached US$3,325 million, 38.9% higher than the figure recorded in the same period of 2020. It is worthy of note that China positioned itself as the country’s main supplier with a 30% share.

The fuels and lubricants sector accounted for 0.8% of imports from China to Chile, with a 62% decrease.

Meanwhile, imports of non-fuel products posted a 42.0% increase with respect to 2020. Purchases of Chinese machinery posted a 25.4% positive variation, mainly due to the purchase of mechanical shovels, excavators, loaders and shovel loaders, which increased by 185.7%.

Technology sector products posted an increase of 93.0% in the first two months of 2021, due to the rise in imports of TVs (145.1%) and computers and their parts (116.2%).

Meanwhile, the entry into the country of goods classified under the category of means of transport and their parts reported an increase of 131.5%.

Finally, clothing, accessories and footwear products posted a negative 15.2% variation, while the groups of food and other relevant products increased by 55.5% and 26.3% respectively, with a 158% rise in fruits and nuts and a 32.5% increase in fertilizers among other products.

Source: portalportuario