Chilean exports exceed US $ 39,000 million in the first semester.

Published on 03 September 2018

Chilean exports exceed US $ 39,000 million in the first semester.

The value of shipments increased considerably, mainly due to the good performance of copper.

After a period marked by the reduction in copper exports caused by the strike in La Escondida, the main mine in Chile, the southernmost country of the American continent, managed to improve the value of its shipments. Thus, in the first semester of 2018, merchandise shipped abroad has generated revenues of US $ 39.210 million, the highest figure in six years for this period, and a result superior in 15.4% to that registered in the first half of 2017 .

Mining contributes half of the value of sales abroad, with US $ 20,688 million. This figure is due almost entirely to copper, the most important product for the Chilean economy. However, there are also other important elements that respond to the technological and automotive industrial demand, such as lithium, increasingly demanded for the batteries of electric vehicles (see related note in a previous publication of this page).

But beyond the good performance of the prices of industrial metals and production volumes, the Chilean exportable supply has received favorable winds in the agricultural and fishing segments. Cellulose has benefited from a good price level and solid demand, while in the case of salmon and trout the increase is mainly due to volume, which managed to compensate for the drop in prices.

On the side of fruits, blueberry production benefited from weather conditions, and the harvest allowed a greater supply to be placed on the market, in addition to the incorporation of value with the replacement of varieties and exploitation of the organic segment in U.S. Meanwhile, the grapes achieved a higher value than in 2017, although the dynamics are different between varieties and those considered the most innovative are those that have had the most movement.

In terms of destinations, Asian countries stand out in the raw materials, while in the case of food, Holland becomes relevant as the gateway to Europe, while the United States is the destination par excellence. Next, we review the participations of the most relevant markets for the portfolio.

In general, the dynamics of Chilean exports would be positive throughout the year, mainly due to volume effect. The main challenge is the volatility of mineral prices, and continue with the constant modernization of the productive matrix that every agricultural entrepreneur needs to stay competitive.

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