Macroeconomic trade context

Annual trade volume, 2024

• Total exports: US$101.0 billion (↑ 2.96% from 2023)
• Total imports: US$84.3 billion
• Trade balance surplus: US$16.7 billion (merchandise)
• Exports per capita: US$5,120 (60th globally)
• Imports per capita: US$4,160 (90th globally)
• Global export rank: 41st out of 226
• Global import rank: 46th out of 226
• GDP: US$330 billion (45th globally)
• GDP per capita: US$16,800 (71st globally)
• Currency: Chilean peso (CLP), floating exchange rate
• Economic Complexity Index (trade): 72nd out of 130 (ECI: -0.15, 2024)
• Economic Complexity Index (technology): 26th out of 96 (ECI: 0.86, 2021)
• Economic Complexity Index (research): 22nd out of 137 (ECI: 1.26, 2023)

Key trade trends, 2024–2025

Latest trade data, November 2025

Geographic distribution, 2024

Export markets (US$101.0B)

Sources: OEC · Trading Economics

Import origins (US$84.3B)

Trade balance by major partner, 2024

Detailed export product analysis

A. Global export leadership, 2024

Chile is the world’s largest exporter of 24 products

Additional global number-one products: molybdenum oxides and hydroxides · sodium nitrate · fresh plums · frozen trout fillets · frozen cod fillets · industrial algae · fresh salmon fillets · fish meal · lithium hydroxide · coniferous plywood · shelled hazelnuts · boron oxides · frozen trout · baby food

B. Mining products (dominant share)

1. Copper: US$20.0+ billion (>20% of total exports)

• World’s largest copper producer and exporter
• Major mines: Escondida (world’s largest), Collahuasi, El Teniente, Los Pelambres
• State-owned Codelco: world’s largest copper producer
• Primary destinations: China (60%+), Japan, South Korea, United States

2. Lithium compounds: US$5.0+ billion (est.)

• World’s largest lithium producer (Salar de Atacama)
• Strategic resource: critical for EV batteries and energy storage
• Codelco expansion: quota of 2.5 million metric tons LME/year approved (2031–2060)
• Primary destinations: China, South Korea, Japan, United States, Europe

3. Molybdenum: US$1.5+ billion (est.)

• Roasted molybdenum concentrate: world’s largest exporter
• Molybdenum oxides and hydroxides: world’s largest exporter
• Byproduct of copper mining
• Primary destinations: China, Japan, Netherlands, United States

4. Industrial minerals

C. Agricultural products

1. Fresh fruits: US$6.0+ billion (est.)

• Counter-seasonal supply: Northern Hemisphere winter
• Primary destinations: China, United States, Europe, Latin America
• Cherry exports: US$2.0+ billion (rapidly growing)

2. Nuts and processed foods

D. Fishery and aquaculture products

1. Salmon and trout: US$6.0+ billion (est.)

• World’s second-largest salmon producer (after Norway)
• Major farming regions: Los Lagos, Aysén, Magallanes
• Primary destinations: United States, Japan, Brazil, China, Russia

2. Other seafood

E. Forest products

1. Wood and derivatives: US$2.5+ billion (est.)

• Primary destinations: China, United States, Mexico, Saudi Arabia

F. Other major export categories

G. Top exports, November 2025

Detailed import product analysis

A. Mineral fuels and energy products (largest import category)

• Total value: US$15.96 billion (2024)
• Share of total imports: 18.9%
• Products: crude oil, refined petroleum, natural gas, coal
• Primary sources: United States, Brazil, Argentina, Ecuador, Colombia

B. Machinery and electrical equipment

1. Machinery, nuclear reactors, boilers (HS 84): US$10.46 billion (2024)

• Share of total imports: 12.4%
• Products: industrial machinery, construction equipment, agricultural machinery, power generation equipment
• Primary sources: United States, China, Germany, Brazil, Italy

2. Electrical and electronic equipment (HS 85): US$8.21 billion (2024)

• Share of total imports: 9.7%
• Products: telecommunications equipment (US$375M, November 2025), computers (US$251M, November 2025), consumer electronics, components
• Primary sources: China, United States, Brazil, Mexico, South Korea

C. Transportation equipment

1. Vehicles other than railway or tramway (HS 87): US$7.95 billion (2024)

• Share of total imports: 9.4%
• Cars: passenger vehicles, SUVs
• Commercial vehicles: trucks, buses
• Parts and accessories
• Primary sources: Brazil, Argentina, Mexico, South Korea, Japan, China

D. Chemical and allied products

E. Food and agricultural products

F. Medical and scientific equipment

G. Metals and metal products

• Articles of iron or steel (HS 73): US$1.76 billion (2024)
• Iron and steel (HS 72): US$1.49 billion (2024)

H. Textiles and apparel

• Articles of apparel, knit or crocheted (HS 61): US$1.47 billion (2024)
• Articles of apparel, not knit or crocheted (HS 62): US$1.37 billion (2024)
• Footwear (HS 64): US$1.12 billion (2024)

I. Other major import categories

• Rubbers (HS 40): US$1.28 billion (2024)
• Paper and paperboard, articles of pulp (HS 48): US$939 million (2024)
• Ores, slag and ash (HS 26): US$1.02 billion (2024)
• Furniture, lighting signs, prefabricated buildings (HS 94): US$861 million (2024)

J. Top imports, November 2025

Trade procedures and regulations: deep dive

A. Customs legal framework

1. Primary authority

• Servicio Nacional de Aduanas (Chilean Customs Service): aduana.cl

2. Legal basis

• Ordenanza de Aduanas (Customs Ordinance): primary customs legislation
• Decreto con Fuerza de Ley N° 30 (Customs Law)
• Ley N° 21.713 (Tax Compliance Law, October 2024)
• Ley N° 21.716 (corrective amendments, November 2024)

3. International memberships

• WTO member: since 1995
• Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP): member
• Pacific Alliance: founding member (with Colombia, Mexico, Peru)
• MERCOSUR associate member: through Economic Complementation Agreement (ACE 35)
• Andean Community: associate member
• Bilateral FTAs: 30+ agreements covering 65+ markets

4. Key trade agreements

B. Major regulatory reforms, 2024–2025

1. Tax Compliance Law (Ley N° 21.713), October 2024

Key customs-related provisions:

Clarification in Ley N° 21.716 (November 2024):

• The law set the US$500 duty-free exemption and the US$41 VAT-free threshold to take effect simultaneously on 25 October 2025
• Until that date: the previous regime applied (US$41 exemption from all taxes)

De minimis regime (effective date under the law: 25 October 2025):

E-commerce platform requirements:

• Digital platforms must register with the Chilean tax authority (Servicio de Impuestos Internos)
• They must collect VAT on sales to Chilean consumers
• Exemption at import if the platform proves VAT was collected at sale

2. Resolution No. 3,944 (October 2024): temporary price declaration

• Purpose: regulates the declaration of provisional prices for goods whose final price depends on future conditions
• Applicable goods: copper ores and concentrates; distillate fuel oils; natural gas; other commodities with pricing formulas
• Requirements: a pro-forma or provisional invoice must be attached; the final price must be declared within 30 days of confirmation; maximum 180 days from the import declaration

3. Resolution No. 4,359 (January 2025): leased goods

• Effective date: 7 January 2025
• Documentation requirements: copy of the lease agreement; pro-forma invoice (not a commercial invoice); sworn affidavit for leased goods
• Valuation: standard valuation methods apply; if not applicable, “reasonable criteria” (list prices, expert appraisal); the importer may request a customs valuation assessment

4. Resolution No. 3,944 (October 2024): customs procedures

• Updated forms for import declarations
• Clarified procedures for specific goods
• Enhanced electronic processing requirements

5. Resolutions No. 105/2024 and 107/2024: tax procedures

• 105/2024: simplified taxation system registration
• 107/2024: VAT declaration and payment procedures

C. Import procedures

1. Documentation requirements

2. Special documentation requirements

• Personal effects shipments: Excel spreadsheet listing (box number, description, value); detailed inventory for household moves
• Used goods: special permits required; age restrictions apply; must not be considered a commercial import

3. Import licensing categories

Restricted goods (prior approval required):

4. Prohibited goods

• Absolutely prohibited: narcotic drugs; hazardous waste; used tires (restricted); materials for weapons of mass destruction; items threatening public health or morality
• Conditionally prohibited: used vehicles (age restrictions); used clothing (humanitarian exceptions); animal products (health certification required); plants and plant products (phytosanitary certification required)

5. Customs clearance process

• Step 1, pre-arrival processing: electronic submission through the SICEX/SIDAP system; risk assessment by customs
• Step 2, channel selection: see the table below

• Step 3, inspection (2025 updates): US exports undergo 100% container scanning before departure; arrival in Chile may trigger a secondary inspection; inspection costs can reach thousands of dollars; potential delays of weeks
• Step 4, duty and tax payment: duties and VAT calculated; electronic payment through authorized banks; proof of payment required for release
• Step 5, release: customs release order issued; goods delivered to the importer

6. Import valuation

• WTO valuation method: transaction value basis
• Currency conversion: based on the official exchange rate (Banco Central de Chile)
• Transfer pricing: related-party transactions require demonstration of market value
• Advance pricing agreements: available for related parties (jointly approved by the tax authority and Customs)

7. Luxury goods

• Luxury tax: 15% or higher on certain goods
• Categories: alcohol, tobacco, precious metals, high-end vehicles
• 2025 updates: tax rates and classifications may apply

D. Taxation and duties

1. Customs duties

General import duty:

• Standard rate: 6% (maintained since 2003)
• MFN average: 6% (most products)
• FTA partners: 0% for qualifying goods
• Duty-free threshold: US$500 FOB (effective date under the law: 25 October 2025)

Preferential rates:

• US FTA: 0% for qualifying US-origin goods (since 2015)
• China FTA: 0% for most products
• EU FTA: 0% for most products
• CPTPP: preferential rates for member countries

2. Value added tax (IVA)

• Standard rate: 19%
• Zero rated: exports, international transport
• Exempt: certain financial services, education, healthcare
• VAT on imports: 19% of (CIF + duty)
• De minimis: US$41 VAT-free threshold (effective date under the law: 25 October 2025)

3. Additional taxes

• Luxury tax: 15%+ on alcohol, tobacco, precious metals, high-end vehicles
• Specific taxes: rates vary; fuels and certain products

4. Customs duty exemptions

Qualifying goods and situations:

• Goods under US$500 FOB (from October 2025 under the law)
• Personal effects (within limits)
• Diplomatic imports
• Temporary imports (with guarantee)
• Re-exported goods

E. Special trade regimes

1. Temporary admission

• Goods imported for a specific purpose and re-export
• Time limit: usually 6–12 months
• Security: bank guarantee or cash deposit
• Applicable to: exhibitions, professional equipment, samples

2. Bonded warehousing

• Depósito aduanero: storage without duty payment
• Purpose: for re-export or subsequent local release
• Time limit: up to 5 years
• Requirements: bonded warehouse license

3. Drawback regime

• Refund of import duties on goods subsequently re-exported
• Eligibility: goods incorporated into exported products
• Application: within 6 months of export

4. Free zones

• Free zone benefits: duty-free imports; VAT exemption; tax incentives; simplified procedures; strategic locations for regional trade

F. Sector-specific regulations

1. Food and agricultural products (SAG)

• Phytosanitary certificates for plant products
• Veterinary certificates for animal products
• SAG registration for importers
• Compliance with health and safety standards
• Labeling in Spanish required

2. Pharmaceutical products (ISP)

• Product registration: required for all pharmaceuticals
• GMP certification: from the country of origin
• Import license: authorization per shipment
• Cold chain requirements: for temperature-sensitive products

3. Cosmetics and personal care (ISP)

• Product notification: through the ISP system
• Safety assessment reports
• GMP certification recommended
• Labeling: Spanish mandatory

4. Medical devices (ISP)

• Registration required based on risk class
• Technical documentation
• Import authorization before shipment

5. Telecommunications equipment (Subtel)

• Type approval: mandatory for all telecom equipment
• Homologation: certification that equipment meets standards
• Testing: by accredited labs

G. Compliance and enforcement

1. Penalties for violations

Resolution mechanism (2024 update):

• Acceptance of penalty: maximum 20% of the statutory fine
• Contested penalty (if rejected): minimum 20% of the statutory fine

2. Appeals process

• Recurso de resguardo: new protection mechanism for taxpayer rights
• Administrative appeal: to the regional or national customs directorate
• Judicial review: to tax and customs courts

3. Post-clearance audit

• Risk-based selection
• Valuation accuracy verification
• Classification review
• Origin verification
• Record keeping: minimum 5 years

Trade agreements network

A. Multilateral agreements

B. Bilateral free trade agreements (30+)

C. Regional agreements

D. Rules of origin

General criteria:

• Change in tariff classification (CTC) at HS 2-, 4- or 6-digit level
• Regional value content (RVC) of 30–50%, depending on the agreement
• Specific processes for certain products

Documentation:

• Certificate of origin issued by authorized entities
• Self-certification available for approved exporters

Major trade infrastructure

A. Ports

Major ports, north to south:

B. Airports

C. Land border crossings

D. Transportation infrastructure

Highways

• Ruta 5 (Pan-American Highway): north–south spine (3,300+ km)
• Ruta 68: Santiago–Valparaíso (port connection)
• Ruta 7 (Carretera Austral): southern highway

Railways

• Ferrocarril de Antofagasta a Bolivia (FCAB): mining exports to Bolivia
• Ferrocarril Arica–La Paz: international connection
• Metrotren: Santiago–Chillán passenger service (limited freight)
• Mining railroads: private lines serving mines

Pipelines

• Gasoducto Norandino: Argentina to northern Chile
• Gasoducto GasAtacama: Argentina to Mejillones
• Transandino pipeline: oil products

E. Logistics platforms

• ZOFRI (Iquique): major free zone and logistics hub
• Puerto Seco Los Andes: dry port near the Argentine border
• Logistics centers: Santiago, Valparaíso, San Antonio, Antofagasta

Emerging trends and future developments

A. Trade surplus performance, 2024–2025

• 2024 (full year): US$14.80 billion surplus
• June 2025: US$1.33 billion surplus
• November 2025: US$1.24 billion surplus
• Decade average: US$8.9 billion surplus (2015–2024)

B. Global export leadership expansion

• 2024 milestone: 24 products ranked number one globally
• 2023–2024 growth: 5.9% export increase
• Export value milestone: exports exceeded US$100 billion for the first time

Diversification progress:

• Mining: copper, lithium, molybdenum, iodine
• Aquaculture: salmon, trout, mussels
• Agriculture: cherries, plums, nuts
• Forestry: plywood, wood pulp
• Processed foods: baby food, fish meal

C. Lithium strategic development

• Codelco expansion (2025): quota of 2.5 million metric tons LME/year approved (2031–2060); partnership with SQM for the Salar de Atacama; new projects in development
• Global position: ~80% of the global lithium carbonate market; critical supplier for the EV battery supply chain; downstream processing opportunities

D. Regulatory modernization, 2024–2025

• Tax Compliance Law (Ley 21.713/21.716): de minimis threshold increased to US$500 (effective 2025 under the law); e-commerce VAT framework; temporary price declaration for commodities; enhanced customs controls
• Procedural reforms: email notifications (January 2025); leased goods regulation (Resolution 4,359); advance pricing agreements (joint Customs and tax authority); new penalty framework
• Digital transformation: SICEX/SIDAP electronic systems; risk management enhancement; single window development

E. Trade agreement utilization

• US FTA (since 2004): 100% duty-free access for US goods; strong utilization by US exporters
• China FTA (since 2005): rapid growth in agricultural exports (cherries); copper and lithium dominate
• Pacific Alliance integration: enhanced regional value chains; platform for Asian trade
• CPTPP benefits: access to 11 Asia-Pacific markets; modern trade rules (digital trade, services)

F. SME export growth

• 2024 export participation: 53% of exporters are SMEs; 8,500+ exporting companies in total
• Support programs: ProChile export promotion; technical assistance for first-time exporters; e-commerce platforms for SMEs

G. Challenges and opportunities

Challenges

• Commodity price volatility
• Limited value-added processing (mostly raw exports)
• Infrastructure gaps in southern regions
• Water scarcity affecting mining and agriculture
• Competition from other lithium producers

Opportunities

• Downstream lithium processing (battery materials)
• Green hydrogen production potential
• Expanding agricultural exports to Asia
• Services exports (mining engineering, software)
• Digital trade growth

Key contacts and resources

A. Government agencies

1. Servicio Nacional de Aduanas (Chilean Customs): aduana.cl · customs procedures, declarations, tariffs
2. Ministerio de Relaciones Exteriores (Ministry of Foreign Affairs): minrel.gob.cl · Dirección General de Relaciones Económicas Internacionales (DIRECON): trade negotiations
3. Servicio Agrícola y Ganadero (SAG): sag.gob.cl · agricultural and livestock imports and exports
4. Instituto de Salud Pública (ISP): ispch.gob.cl · pharmaceuticals, cosmetics, medical devices
5. Subsecretaría de Telecomunicaciones (Subtel): subtel.gob.cl · telecommunications equipment approvals
6. ProChile: prochile.gob.cl · export promotion, trade intelligence
7. Instituto Nacional de Estadísticas (INE): ine.cl · trade statistics, economic data
8. Banco Central de Chile: bcentral.cl · exchange rates, balance of payments
9. Servicio de Impuestos Internos (SII): sii.cl · VAT, tax compliance, advance pricing agreements

B. Business organizations

1. Sociedad de Fomento Fabril (SOFOFA): sofofa.cl · manufacturing industry association
2. Cámara Nacional de Comercio (CNC): cnc.cl · chamber of commerce
3. Asociación de Exportadores de Manufacturas (ASEXMA): asexma.cl · manufacturing exporters
4. Consejo Minero: consejominero.cl · mining industry association
5. SalmonChile: salmonchile.cl · salmon industry association
6. Asociación de Exportadores de Frutas de Chile (ASOEX): asoex.cl · fruit exporters association

C. Trade portals and digital platforms

D. Practical guidance for traders

For exporters to Chile

1. De minimis planning (effective date under the law: October 2025): shipments ≤ US$500 FOB: 0% duty, 19% VAT (if above US$41); shipments ≤ US$41: fully exempt; shipments above US$500: 6% duty + 19% VAT
2. Documentation essentials: complete commercial invoice with HS code, FOB value and origin; certificate of origin for FTA preferences (US, China, EU, etc.); SAG/ISP permits for regulated products
3. FTA utilization: US goods: 0% duty (since 2015); Chinese goods: 0% under the FTA; European goods: 0% under the FTA
4. HS code accuracy: 2025 updates for electronics (HS 8517 subdivisions); battery category changes (HS 8507 lithium batteries may face the 15% luxury tax)
5. Regulated products: agricultural products: SAG certification required; pharmaceuticals and medical devices: ISP registration; telecom equipment: Subtel type approval
6. Payment terms: letters of credit are common for new relationships; open account is possible once trust is established

For importers from Chile

1. Certificate of origin: obtain from authorized chambers (SOFOFA, CNC, etc.)
2. FTA preferences: claim under Chile’s 30+ FTAs
3. Product certifications: quality certificates available from manufacturers; SAG certificates for agricultural products; ISP certificates for pharmaceuticals
4. Lithium and copper contracts: direct with producers (SQM, Albemarle, Codelco, Antofagasta Minerals)
5. Salmon and seafood: direct with exporters (AquaChile, Multiexport, Camanchaca)

Economic impact and strategic position

A. Trade balance dynamics

2024 performance:

• Trade surplus: US$14.80 billion
• Export value: US$101.0 billion
• Import value: US$84.3 billion
• Export–import coverage ratio: 120%

B. Global strategic position

1. Copper superpower: world’s largest copper producer (Codelco, Escondida)
2. Lithium dominance: world’s largest lithium producer (~80% market share)
3. Salmon leader: world’s second-largest salmon producer
4. Fruit powerhouse: counter-seasonal supplier to the Northern Hemisphere
5. Mining technology leader: world-class mining engineering and services
6. Trade agreement champion: 30+ FTAs covering 65+ markets
7. Pacific Alliance member: strategic platform for Asia trade
8. Stable economy: one of Latin America’s most stable and prosperous

C. Competitiveness indicators

D. Challenges

1. Commodity dependence: copper, lithium and salmon are subject to price volatility
2. Limited processing: most exports are raw materials; value added is limited
3. Water scarcity: mining and agriculture compete for water in northern regions
4. Infrastructure gaps: southern connectivity, port modernization needs
5. Climate vulnerability: agriculture depends on water availability
6. Geopolitical risks: dependence on China (33% of exports)

E. Opportunities

1. Lithium downstream: battery materials, cathode production
2. Green hydrogen: massive potential from wind and solar (Magallanes)
3. Renewable energy: solar (Atacama), wind (Patagonia)
4. Mining technology: global leader in mining engineering exports
5. Salmon value added: smoked and prepared products
6. Agricultural innovation: premium fruit, organic products, counter-seasonal supply
7. Services exports: fintech, software, engineering, consulting
8. Digital trade: growing e-commerce and digital services
9. Pacific Alliance integration: regional value chains
10. CPTPP expansion: new members joining

Summary of Chile’s trade characteristics

1. Global export champion: 24 products ranked number one worldwide, including copper, lithium, fresh cherries, frozen salmon fillets, iodine and potassium nitrate
2. Mineral superpower: world’s largest copper and lithium producer; copper exports above US$20B; lithium carbonate accounts for ~80% of the global market
3. Salmon leader: world’s second-largest salmon producer; leader in fresh and frozen fillets, trout, mussels
4. Fruit powerhouse: counter-seasonal supplier to the Northern Hemisphere; world’s largest cherry exporter
5. Trade agreement champion: 30+ FTAs covering 65+ markets, including the US, China, EU, Japan, Korea and CPTPP
6. Regulatory reform, 2024–2025: Ley 21.713/21.716 introduces a US$500 duty-free threshold (effective date under the law: October 2025), an e-commerce VAT framework, temporary price declaration and enhanced customs controls
7. Trade surplus sustained: US$14.8 billion surplus in 2024; exports exceeded US$100 billion for the first time
8. SME export growth: 53% of exporters are SMEs; 8,500+ exporting companies
9. Top trade partners: China (33.7% of exports), US (14.4%), Japan (8.4%); imports from China (28.5%), US (19.0%), Brazil (8.9%)
10. Trade balance leaders: surpluses with China (+US$17.7B), Japan (+US$6.32B), South Korea (+US$3.09B); deficits with Argentina (-US$5.75B), Germany (-US$2.06B)

Chile is one of the world’s most open and trade-oriented economies. It combines resource superpower status in copper and lithium with global leadership in salmon, fruit and niche industrial products. With 24 products ranking number one globally in 2024, Chile has diversified beyond traditional mining into aquaculture, agriculture and processed goods while maintaining dominance in critical minerals for the energy transition.

The 2024–2025 regulatory landscape saw major modernization: Ley 21.713/21.716 raises the de minimis threshold to US$500 (effective date under the law: October 2025), establishes e-commerce VAT collection, enables temporary price declarations for commodities and introduces joint advance pricing agreements between Customs and the tax authority. These reforms align Chile with global best practices while supporting e-commerce growth.

Chile’s extensive FTA network (30+ agreements covering 65 markets) provides unparalleled market access. The US FTA (100% duty-free since 2015), the China FTA (rapidly growing agricultural trade) and CPTPP membership position Chile as a platform for Asia-Pacific trade.

Chile’s trade future depends on capturing downstream value in lithium (battery materials), developing its green hydrogen potential, expanding agricultural exports, and using its stable economy and trade agreements to attract investment in renewable energy, technology and services. Its strategic position as a Pacific Alliance leader and CPTPP member provides unique advantages in navigating global trade dynamics while it remains a reliable supplier of critical resources for the global economy.

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