Chile: year-to-date exports increase 0.6% in August 2023

As of August 2023, Chile’s total exports amounted to $65.713 billion, marking a 0.6% increase (+$386 million). This growth can largely be attributed to a 5% increase in non-traditional exports, which helped offset a 3% decline in traditional exports, according to the monthly trade report prepared by the Directorate of Studies of the Undersecretariat for International Economic Relations (Subrei).

During the analyzed period, Chile exported over 4,380 different non-traditional products, with more than 2,500 of them experiencing increases in their exports.

In detail, traditional exports totaled $35.029 billion, reflecting a 3% decrease (-$1.076 billion). This was primarily due to a 15.5% decline in lithium carbonate exports (-$857 million, classified as traditional products) and a 12.7% reduction in cellulose exports (-$233 million), which couldn’t be offset by the 0.05% increase in copper exports (+$14 million).

Despite the modest growth in total exports, Claudia Sanhueza, Undersecretary for International Economic Relations, highlighted in this report that “we already see a recovery in the number of companies with sales abroad, totaling 7,047 exporters, a figure not seen since 2015. That is a merit of our entrepreneurs across the country.”

Chile’s international trade amounted to $123.158 billion in the first eight months of 2023, recording a 10.3% decrease compared to the same period in 2022 (-$14.146 billion).

Imports totaled $57.445 billion, marking a 20.2% decline (-$14.553 billion) compared to the January-to-August period in 2022, primarily due to a 19.9% drop in intermediate goods (-$7.725 billion), a 27.5% decrease in consumer goods (-$5.560 billion), and a 9.6% reduction in capital goods (-$1.248 billion).

Source: Portal Portuario

To read the original news piece, click on: https://portalportuario.cl/exportaciones-totales-chilenas-logran-expansion-de-06-en-agosto-de-2023/

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