Flag Chile

Econ Complexity (2018): -0.12, Rank 74 of 137

Product Exports (2018): $76.7B, Rank 43 of 222

Exports Per Capita (2018): $4.09k, Rank 144 of 219

Product Imports (2018): $71B, Rank 45 of 221

Imports Per Capita (2018): $3.79k, Rank 177 of 219

Service Exports (2018): $10.3B, Rank 25 of 62

Service Imports (2018): $14.3B, Rank 25 of 62

GDP (2018): $428B, CONST 2011 USD
Rank 42 of 188

GDP growth (2008 - 2018): 35.1%, CONST 2011 USD
Rank 94 of 188

GDP PC (2018): $22,874, CONST 2011 USD
Rank 59 of 188

GDP PC GROWTH (2008 - 2018): 20.5%, CONST 2011 USD
Rank 81 of 188

Overview: In 2018 Chile was the number 42 economy in the world in terms of GDP (constant 2011 international USD) and the number 74 most complex economy. In 2018, Chile exported $76.7B and imported $71B, resulting in a positive trade balance of $5.65B. In 2018, Chile's exports per capita were $4.09k and its imports per capita were $3.79k.

Trade: The top exports of Chile are Copper Ore ($18.6B), Refined Copper ($15.5B), Sulfate Chemical Woodpulp ($3.71B), Fish Fillets ($2.78B), and Raw Copper ($2.16B). The top imports of Chile are Cars ($4.81B), Refined Petroleum ($4.68B), Crude Petroleum ($3.83B), Delivery Trucks ($2.65B), and Broadcasting Equipment ($2.35B).

Destinations: Chile exports mostly to China ($25.3B), United States ($10.6B), Japan ($7.06B), South Korea ($4.39B), and Brazil ($3.39B), and imports mostly from China ($16.7B), United States ($13.8B), Brazil ($6.45B), Germany ($3.22B), and Argentina ($3.05B).

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

Product Exports

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Depth
Value

Top Export (2018): Copper Ore, $18.6B

Top Destination (2018): China, $25.3B

In 2018 Chile exported a total of $76.7B, making it the number 43 exporter in the world. During the last five years the exports of Chile have changed by -$2.07B from $78.7B in 2013 to $76.7B in 2018.

The most recent exports are led by Copper Ore ($18.6B), Refined Copper ($15.5B), Sulfate Chemical Woodpulp ($3.71B), Fish Fillets ($2.78B), and Raw Copper ($2.16B). The most common destination for the exports of Chile are China ($25.3B), United States ($10.6B), Japan ($7.06B), South Korea ($4.39B), and Brazil ($3.39B).

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Product Imports

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Value

Top Import (2018): Cars, $4.81B

Top Origin (2018): China, $16.7B

In 2018 Chile imported $71B, making it the number 45 trade destination in the world. During the last five years the imports of Chile changed by -$5.73B from $76.7B in 2013 to $71B in 2018.

The most recent imports of Chile are led by Cars ($4.81B), Refined Petroleum ($4.68B), Crude Petroleum ($3.83B), Delivery Trucks ($2.65B), and Broadcasting Equipment ($2.35B). The most common import partners for Chile are China ($16.7B), United States ($13.8B), Brazil ($6.45B), Germany ($3.22B), and Argentina ($3.05B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Between 2017 and 2018, the exports of Chile grew the fastest in China ($6.13B), Japan ($680M), and South Korea ($323M). Between 2017 and 2018, Chile imports from United States ($2.3B), China ($1.26B), and Brazil ($1.13B) grew the fastest.

Chile Exports Services (2018): $10.3B

Chile Imports Services (2018): $14.3B

In 2018, Chile exported $10.3B worth of services. The top services exported by Chile in 2018 were Transportation ($3.22B), Other business services ($2.66B), Personal travel ($2.53B), Business travel ($422M), and Government services, n.i.e. ($408M).

The top services imported by Chile in 2018 were Transportation ($5B), Other business services ($2.99B), Personal travel ($2.05B), Royalties and license fees ($1.78B), and Financial services ($843M).

Trade Predictions

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This section shows predictions for total product exports and imports for Chile. The Prediction is based in a Long-Short Term Memory Model constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Chile are 1,2-dichloroethane(ethylene dichloride) (6%) and 1-chloro-2,3-epoxypropane(epichlorohy-drin) (6%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Chile are:
23: AAP.AG N° 02 - Acuerdo de Alcance Parcial para la Liberación y Expansión del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM80
30: AAP.CE N° 22 Acuerdo de Complementación Económica N° 22
31: AAP.CE N° 23 Acuerdo de Complementación Económica N° 23
32: AAP.CE N° 24 Acuerdo de Complementación Económica para el Establecimiento de un Espacio Ampliado entre Colombia y Chile (acuerdo N° 24)
33: AAP.CE N° 32 Acuerdo de Complementación Económica N° 32 Suscrito entre Chile y Ecuador (Acuerdos posteriores relacionados: AAP.CE N° 65)
35: AAP.CE N° 35 - Complementación Económica entre MERCOSUR y Chile
38: AAP.CE N° 38 Acuerdo de Complementación Económica N° 38 Suscrito entre la República de Chile y la República del Perú
40: AAP.CE N° 41 Tratado de Libre Comercio
41: AAP.CE N° 42 Acuerdo de Complementación Económica N° 42 Celebrado entre la República de Cuba y la República de Chile
79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia
80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay
82: AR.CEYC N° 7 Acuerdo de Cooperación e Intercambio en las Áreas Cultural, Educacional y Científica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, México, Panamá, Paraguay, Perú, Uruguay)
83: AR.PAR N° 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador México Panamá Paraguay Perú Uruguay Venezuela)
136: Most Favoured Nation duty rate treatement
153: Preferential tafiff for Malaysia
178: Preferential tariff for Canada
184: Preferential tariff for China
192: Preferential tariff for Costa Rica
207: Preferential tariff for El Salvador
219: Preferential tariff for European Union countries (AA) Association Agreement
238: Preferential tariff for Iceland
239: Preferential tariff for India
246: Preferential tariff for Japan
249: Preferential tariff for Korea, Republic of
254: Preferential tariff for Least Developed Countries
279: Preferential tariff for Nicaragua
281: Preferential tariff for Norway
285: Preferential tariff for Panama
306: Preferential tariff for Switzerland
309: Preferential tariff for Thailand
315: Preferential tariff for The Pacific Alliance between Chile, Colombia, Mexico and Peru (Spanish: Alianza del Pacífico)
319: Preferential tariff for Trans-Pacific countries
328: Preferential tariff for United States
333: Preferential tariff for Vietnam
377: Tratado Libre Comercio Chile - Australia (TLCCH-AUS) 63
378: Tratado Libre Comercio Chile - China (Hong Kong) (TLC-CHCHI) 96
379: Tratado Libre Comercio Chile - Guatemala (TLCCH-GU) 65
380: Tratado Libre Comercio Chile - Honduras (TLCCH-HON) 61
381: Tratado Libre Comercio Chile - Turkey (TLCCH-TURQ) 66

Economic Complexity

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Economic Complexity Ranking

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During the last 20 years Chile's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨42nd 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.

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Most Specialized Products by RCA Index

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Chile has a high level of specialization in Halogens (86.4), Molybdenum Ore (75.5), Copper Ore (69.7), Nitrites and Nitrates (69.3), and Refined Copper (55.6). 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

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The highest complexity exports of Chile according to the product complexity index (PCI) are Paper, board, clay, inorganic coated at least one side (0.81), Meat of swine, fresh, chilled or frozen (0.79), Polymers, natural, modified nes, in primary forms (0.73), Baby carriages and parts thereof (0.65), and Woven fabric of combed wool or fine animal hair (0.5). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Chile according to the relatedness index, are Maté (0.18), Manganese Ore (0.17), Wool (0.17), Uranium and Thorium Ore (0.17), and Crude Petroleum (0.17). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Chile is not specialized in.

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 it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.