Chile’s export sector has demonstrated tremendous strength in 2024, defying global economic challenges.
Between January and August, the country’s exports of goods and services reached record numbers, showing the resilience and diversification of its economy.
Merchandise exports rose by 3.8%, reaching $66.3 billion – the highest value ever recorded for the period. Meanwhile, exports of services grew by an impressive 26%, reaching $1.8 billion.
These figures, reported by Chile’s Undersecretariat of International Economic Relations (Subrei), paint a picture of a thriving export-oriented economy.
Mining continues to lead Chile’s exports, with shipments worth $37.7 billion, up 10.3% from a year ago.
Exports of copper, gold and iron offset a 45.8% decline in lithium carbonate shipments. This shows the sector’s ability to adapt to changing market conditions.
Fresh fruit exports set a new record at $5.7 billion, up 13.1% year-on-year. Kiwifruit, lemons, nectarines, peaches, figs, blueberries, plums and cherries saw significant growth.
Wine exports also rose 5.5% to $1.1 billion, driven by bottled and bulk sales. The services sector showed notable growth, especially in technology-related areas.
Cloud hosting services led the way, followed by aircraft maintenance and repair, logistics support and IT application development.
This shift toward high-value services reflects Chile’s efforts to diversify its economy beyond traditional exports.
Claudia Sanhueza, Undersecretary of Subrei, emphasized the dynamism of the export sector in a challenging global context.
She highlighted growth in key sectors such as fresh fruit, organic foods, machinery, pulp and services, underscoring Chile’s strategy to diversify its export basket.
Chile’s exports rise: Record $66.3 billion in goods, $1.8 billion in services
This record performance is not just about numbers. It represents Chile’s successful navigation of global economic uncertainties and its commitment to economic diversification.
As the country continues to expand its export portfolio, it strengthens its position in the global market and builds resilience to sector-specific downturns.
Chile’s export success story in 2024 serves as a testament to the country’s economic strategy and adaptability.
It also highlights the potential for other nations to diversify their economies and thrive in an ever-changing global marketplace.
