Brazil has USD 4.4 bln surplus in bilateral trade with Chile

Chile has become an increasingly important partner for Brazil as the trade flow (exports+imports) has grown rapidly in recent years. In 2022, the Andean country ranked sixth in exports and fourteenth in national imports.

The bilateral trade flow totaled US$ 13.735 billion (up 20.1% compared to 2021), and Brazil obtained a surplus of US$ 4.494 billion in exchanges with the neighboring country.

According to data from the Department of Foreign Trade at Brazil’s Ministry of Industry, Commerce, and Services, exports to Chile increased by 29.9% in 2022 compared to 2021 and totaled US$ 9.115 billion. Chile was the destination for 2.73% of the entire volume exported by Brazilian companies.

Chilean exports to Brazil, on the other hand, increased by only 4.5% to US$ 4.620 billion, and Chile accounted for 1.69% of total Brazilian imports last year.

See below Brazil’s top ten imports from Chile transported in containers from Jan 2022 to Nov 2022. The data is from DataLiner.

Top 10 imports from Chile | Jan 2022 – Nov 2022 | TEUs

Source: DataLiner (click here to request a demo)

The Brazilian export basket to Chile is quite diversified and has a relevant share of manufactured products with higher added value. Despite this, exports are led by a commodity, crude oil, with exports worth US$ 3.2 billion, an increase of 60.5% (corresponding to US$ 1.19 billion) compared to the previous year. Oil sales accounted for 35% of total exports to the neighboring country.

Another highlight in exports to Chile was automobiles, which experienced a sharp increase of 928% in shipments and generated revenues of US$ 542 million (5.9% share of total exports).

Equally important were shipments of cargo transport vehicles (US$ 436 million), beef (US$ 391 million): parts and accessories for motor vehicles (US$ 394 million), and road vehicles (US$ 387 million).

Source: Comex do Brasil

To read the original reporting, please access: https://www.comexdobrasil.com/comercio-bilateral-com-o-chile-gera-superavit-de-mais-de-us-44-bilhoes-para-o-brasil-em-2022/

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