Based on the average exchange rate for 2021, the Chilean peso depreciated by -17% against the US dollar since 2017 but increased by 4.3% from 2020 to 2021. Chile’s stronger local currency after 2020 makes its imports paid for in weaker US dollars relatively less expensive when converted starting from Chilean pesos.
Among Chile’s most valuable imported products are refined petroleum oils, cars, computers, and phone devices including smartphones.
From a continental perspective, 40% of Chile’s total imports by value in 2021 were purchased from Asian countries. North American trade partners supplied 22% of import purchases by Chile while 21.8% worth of goods originated from Latin America excluding Mexico but including the Caribbean. At 16.9%, a smaller percentage came from European exporters.
Much smaller percentages came from Africa (1.1%) and Oceania (0.7%) led by Australia and New Zealand.
Given Chile’s population of 19.7 million people, its total $87 billion in 2021 imports translates to roughly $4,400 in yearly product demand from every person in the South American country. That per-capita metric compares to an average $2,850 for 2020.
Chile’s Top 10 Imports
The following product groups represent the highest dollar value in Chile’s import purchases during 2021. Also shown is the percentage share each product category represents in terms of overall imports into Chile.
- Mineral fuels including oil: US$13.4 billion (15.4% of total imports)
- Machinery including computers: $10.7 billion (12.3%)
- Electrical machinery, equipment: $9.6 billion (11%)
- Vehicles: $9.2 billion (10.5%)
- Plastics, plastic articles: $3.5 billion (4.1%)
- Pharmaceuticals: $2.5 billion (2.8%)
- Meat: $2.4 billion (2.8%)
- Iron, steel: $2.3 billion (2.7%)
- Articles of iron or steel: $1.8 billion (2%)
- Optical, technical, medical apparatus: $1.7 billion (1.9%)
Chile’s top 10 imports accounted for about two-thirds (65.6%) of the overall value of its product purchases from other countries.
Imported iron or steel posted the strongest growth in value among the top 10 import categories, up 125.1% from 2020 to 2021.
The second-fastest gainer was imported vehicles (up 114.6%) trailed by mineral fuels including oil (up 86.9%), plastics both as materials and items made from plastic (up 66.3%), then meat imports (up 59.8%).
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under the adjacent virtual folder tabs is at the more granular 4-digit level.
Chile’s Top Mineral Fuels Imports Including Oil
In 2021, Chilean importers spent the most on the following 10 subcategories of mineral fuels-related products.
- Processed petroleum oils: US$4.9 billion (up 81.2% from 2020)
- Crude oil: $4.4 billion (up 98.3%)
- Petroleum gases: $2.6 billion (up 78%)
- Coal, solid fuels made from coal: $1.3 billion (up 97%)
- Asphalt/petroleum bitumen mixes: $40.7 million (up 114.3%)
- Petroleum jelly, mineral waxes: $23.1 million (up 71.7%)
- Petroleum oil residues: $16.7 million (down -20.1%)
- Peat: $14.1 million (up 43.2%)
- Coal tar oils (high temperature distillation): $5 million (up 1%)
- Coke, semi-coke: $2.3 million (up 103.3%)
Among these import subcategories, Chilean purchases of asphalt or petroleum bitumen mixes (up 114.3%), coke or semi-coke (up 103.3%) then crude oil (up 98.3%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among Chilean businesses and consumers.
Chile’s Top Machinery Imports Including Computers
In 2021, Chilean importers spent the most on the following 10 subcategories of machinery including computers.
- Computers, optical readers: US$2.1 billion (up 70.5% from 2020)
- Heavy machinery (bulldozers, excavators, road rollers): $836.6 million (up 110.3%)
- Machinery parts: $610.3 million (up 26.4%)
- Refrigerators, freezers: $521.7 million (up 111.3%)
- Centrifuges, filters and purifiers: $412.2 million (up 26.3%)
- Taps, valves, similar appliances: $403.4 million (up 27.4%)
- Liquid pumps and elevators: $378.4 million (up 19.1%)
- Transmission shafts, gears, clutches: $336.3 million (up 18.2%)
- Pneumatic hand tools: $289.9 million (up 156%)
- Sort/screen/washing machinery: $287.2 million (up 13.5%)
Among these import subcategories, Chilean purchases of pneumatic hand tools (up 156%), refrigerators and freezers (up 111.3%) then heavy machinery such as bulldozers, excavators and road rollers (up 110.3%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of machinery-related imports among Chilean businesses and consumers.
Chile’s Top Electronics Imports
In 2021, Chilean importers spent the most on the following 10 subcategories of electrical goods including consumer electronics.
- Phone system devices: US$2.8 billion (up 41.8% from 2020)
- Electric motors, generators: $1.1 billion (down -2.9%)
- TV receivers/monitors/projectors: $1.1 billion (up 112%)
- Electric generating sets, converters: $711 million (down -28.7%)
- Insulated wire/cable: $466.8 million (up 51.1%)
- Electric water heaters, hair dryers: $378.8 million (up 100.5%)
- Electrical/optical circuit boards, panels: $346.4 million (up 70.5%)
- Microphones/headphones/amplifiers: $291.9 million (up 108.6%)
- Electrical converters/power units: $291.1 million (up 18.2%)
- Lower-voltage switches, fuses: $254.1 million (up 49.1%)
Among these import subcategories, Chilean purchases of television receivers, monitors and projectors (up 112%), microphones, headphones and amplifiers (up 108.6%) then electric water heaters and hair dryers (up 100.5%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of electronics-related imports among Chilean businesses and consumers.
Chile’s Top Vehicles Imports
In 2021, Chilean importers spent the most on the following 10 subcategories of vehicles.
- Cars: US$3.8 billion (up 158.7% from 2020)
- Trucks: $3.1 billion (up 142.9%)
- Automobile parts/accessories: $670.2 million (up 64.1%)
- Tractors: $631.2 million (up 141.8%)
- Public-transport vehicles: $274.6 million (down -39.5%)
- Motorcycles: $222.7 million (up 161.2%)
- Trailers: $182 million (up 79.6%)
- Bicycles, other non-motorized cycles: $147.2 million (up 170.2%)
- Special purpose vehicles: $82 million (down -38.1%)
- Motorcycle parts/accessories: $47.5 million (up 166.5%)
Among these import subcategories, Chilean purchases of bicycles plus other non-motorized cycles (up 170.2%), motorcycle parts or accessories (up 166.5%) then motorcycles (up 161.2%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of vehicles-related imports among Chilean businesses and consumers.
See also Chile’s Top Trading Partners, Chile’s Top 10 Exports, Brazil’s Top 10 Exports and Top South American Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on March 26, 2022
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on March 26, 2022
International Trade Centre, Trade Map. Accessed on March 26, 2022
