Chile- January: Exports reached US$8,924 million, driven by increases of 4.2% in goods and 29.2% in services

By the Chilean government
February 7, 2023

This is a machine translation of the original press release issued in Spanish

According to the Directorate of Studies of the Undersecretary of International Economic Relations (SUBREI), with figures from the Central Bank and the National Customs Service, during January exports amounted to US$ 8,924 million, highlighting the increase in the sale of goods, which grew by 4.2%, while exports of services increased by 29.2% in relation to January 2022.

Thus, exports of services climbed to US$172 million, registering a growth of 29.2% compared to the same month in 2022 (+US$38.9 million). "Information technology" services generated 30.7% of foreign sales, followed by "consulting" services (21%) and "maintenance and repair" services (15.3%). The momentum of the sector was supported by the benefits of "ICTs" (+US$13.6 million), "maintenance and repair" (+US$8.1 million), "consulting" (+US$5 million), " administration” (+US$4.8 million), “science, technology and R&D” (+US$3.4 million) and “logistics services” (+US$3.1 million).

exports of goods

According to the report, lithium carbonate and fresh cherries are the goods that increased their shipments the most during January 2023, with foreign sales that reached US$565 million (+106%) and US$1,350 million (+19%), respectively.

Thus, fresh cherries positioned themselves during January as the main exponent of the non-copper supply, with shipments of US$1,350 million, marking an increase of 19% compared to the same month in 2022 (+US$217 million). In this way, this product alone justified 15% of the country's exports in the analyzed month. Likewise, lithium carbonate stands out, whose sales abroad grew 106%, reaching US$565 million (+US$290 million), representing 6.3% of the total value exported.

Other exported goods that stand out due to the increases in foreign sales during January are salmon (+US$52 million), gold (+US$41 million), molybdenum oxide (+US$40 million), blueberries (+US$39 million) and molybdenum concentrate (+US$37 million).

Other notable rises in the month were recorded for shipments of iodine, pork, silver, iron, fishmeal, dried fruit, machinery and equipment, and plywood.

Exports from the sector reached 108 destination markets, which in terms of returns were led by the United States with US$46.7 million, followed by Peru (US$39.8 million), Colombia (US$14.1 million), United Kingdom (US$7.1 million) and Switzerland (US$7.1 million). Other prominent destinations are Germany, Uruguay, Argentina, Spain, Ecuador, among others.

More Chilean companies exporting

Regarding the total number of exporting companies registered during the first month of 2023, these reached 3,045, representing an increase of 10% compared to January 2022. The manufacturing sector registered 1,353 exporting companies (+169), followed by services (+49 ), agriculture (+32), mining (+21), wines (+15), fishing and aquaculture (+11) and forestry (+1).

According to the size of their sales, exporters classified as large companies registered a participation of 53%, followed by SMEs with 36% and micro- enterprises with 4%. Regarding their contribution to the exported value, large companies registered 96% of the country's shipments, SMEs 2.7% and micro -enterprises 0.3%.

"The export figures for January show that Chile's foreign trade is off to a good start this year 2023, despite the complex international context we are going through. The foregoing contributes to the much-needed economic recovery, with more companies exporting products with higher added value”, indicated the Undersecretary for International Economic Relations (s), Marcela Otero.

50% of the regions increased their exports

In January of this year, the Valparaíso region (+US$173 million) stands out with the highest increases, compared to January 2022, followed by the Metropolitan region (+US$151 million), Biobío (+US$140 million), Los Lagos (+US$58 million), O'Higgins (+US$56 million), Aysén (+US$4 million) and Arica and Parinacota (+US$632 thousand).

imports

According to the report, China, Mercosur, the United States, the European Union and the Pacific Alliance originated 76% of Chile's total imports.

• China remains the country's main supplier with US$ 1,274 million, although with a 54% decrease in value compared to the same month in 2022.
• Imports from Mercosur amounted to US$ 1,197 million, marking a decrease of 4% compared to the previous year.
• The United States is the third largest supplier in the country, with amounts of US$993 million, 19% less than those registered during the first month of 2022.
• The entry of merchandise from the European Union reached US$900 million, registering an increase of 9.5% in relation to the year 2022.
• For its part, the Pacific Alliance was in fifth place, with operations for US$374 million, reflecting a contraction of 21% compared to January 2022.

“The figures just mentioned confirm the importance of continuing to develop the services sector, especially those based on knowledge, and emphasizing the Chilean offer of products with greater added value that promote the productive development of the country, diversifying the export basket, as well as the destination markets, a task in which SUBREI is currently engaged through the continuous implementation of the network of trade agreements and negotiations with new trade partners, such as the United Arab Emirates and the deepening of the Agreement with India, among others,” concluded Marcela Otero, Undersecretary of International Economic Relations.