First quarter of 2022: Chile’s trade grows by 23% compared to last year

Through a statement, the Undersecretary of International Economic Relations, SUBREI, released the data related to Chile’s commercial exchange in the first three months of 2022. They reflect that national exports rose to US $ 25,700 million, with a growth of 15% compared to the same period of 2021. On the other hand, imports amounted to US $ 25,760 million, with an increase of 33% compared to the same months last year.
“The data delivered today is good news, this increase shows us that this important sector of our economy continues to advance, delivering greater resources hand in hand with the dynamism of exports that was led by the non-copper supply that reaches an amount of US $ 12,803 million, marking an increase of 26% compared to the first quarter of 2021”, underlined the Undersecretary of International Economic Relations, José Miguel Ahumada.
Likewise, the head of SUBREI pointed out that the relevant thing “is that these data drive us to work to maintain the trend and not just a seasonal effect.” He added “that, although there is an increase in the prices of raw materials and exported minerals, there is also an increase in the price of imports as fuels,” so he called for a detailed and cautious look at these data.
This increase is based on the rise in the values recorded for fresh cherries, avocados, fresh plums, salmon, frozen fruits, poultry, profiled wood and lithium carbonate. With this, non-copper shipments are equivalent to 50.3% of the country’s exports.
According to figures from the Central Bank of Chile, copper shipments totaled approximately US$ 12.6 billion, growing by 6% compared to 2021. In the same period, the international price of copper averaged US$ ¢/lb 453, exceeding its value by 18% in the first three months of 2021.
Exports of services, meanwhile, ended at an amount of US $ 328 million, experiencing an increase of 3% compared to the first quarter of 2021. The services that explain this increase were those of maintenance and repair of aircraft, the commercialization of advertising spaces on web pages, technical support in computing and informatics, international carrier and advice on information technologies.
In terms of geographical distribution of shipments, Asia continues to lead shipments with 60% share in the period. Other important destinations were North America (17%), Latin America (12%) and Europe (9%).  As for the number of destinations, the country’s exports have been directed to a total of 176 markets.
It is worth noting the increase in sales to 95 of them. 95.3% of the country’s exports went to economies with which Chile has signed Free Trade Agreements. In this sense, China led shipments with US $ 9,700 million, registering an increase of 14% compared to the first quarter of 2021, generating 39% of sales abroad in the period.
It was followed in importance by shipments to the United States that reached an increase of 16%, which is equivalent to 16% of the total exported in the period. Shipments to Japan grew by 31% in the same period, which translates into 9% of exported shipments. This positions it as the third destination in relevance.
In the period, twelve of the sixteen regions of the country recorded advances in their sales abroad, highlighting Antofagasta (+US$ 1,474 million), Biobío (+US$ 567 million), Tarapacá (+US$ 521 million), Valparaíso (+US$ 465 million) and Atacama (+US$ 360 million).
Imports meanwhile totaled US $ 25,700 million growing by 33% compared to the first three months of 2021, showing increases above double digits in all categories of goods: intermediate (39%), consumption (33%) and capital (16%).
At the product level, the increase in imports was led by the categories diesel, clothing, oil, automobiles, gasoline, mineral coal, natural gaseous gas, footwear and household appliances. Other outstanding growths were registered by vans for the transport of goods, motor vehicles only powered by electric motor, among others.
In the first three months of 2022, the country’s imports came from 146 different origins, highlighting the fact that 95.9% arrived from countries with which Chile has Free Trade Agreements.
Of these, it is worth mentioning China (32%), Mercosur (17%), the United States (17%), the European Union (11%) and the Pacific Alliance.co (6%).
During the third month of 2022, in March, the country’s commercial exchange totaled US$ 18,603 million, growing by 22% compared to March 2021. Foreign sales reached US$ 9,481 million while imports reached US$ 8,218 million. In both cases, the growth was 22% compared to March 2021.

Original source in Spanish