I. Chile's Agricultural Imports

In 2023, Chile's agricultural imports were valued at $10.2 billion, down 17.7% from 2022. Meanwhile, overall, the country's agricultural imports grew at an average annual rate of 6.6% in value terms from 2019-2023.

The main products in the structure of Chile's agricultural imports in 2023 are beef and edible by-products of cattle (14.2%), corn (6.7%), soybean meal (5.2%), sugar beets and cane sugar (3.8%), and fats and oils of fish and marine mammals (3.7%). Overall, the 10 most demanded agricultural products in the domestic market accounted for 48.0% of the country's total supply of agricultural products.

In 2023, the most significant growth in purchases was seen in fish and marine mammal fats and oils (+88.9% or +178 million USD), cheese (+14.9% or +40.4 million USD), and pork and swine by-products (+13.9% or +36.6 million USD). Meanwhile, purchases of wheat (-55.1% or -$448 million), corn (-27.7% or -$260.2 million), sugar beets and cane sugar (-37.8% or -$236.1 million), and cake and soybean meal (-25.9% or -$183.1 million) declined significantly.

Argentina is Chile's largest agricultural exporter - 19.9% of all Chilean agricultural supplies in 2023. Brazil (16.5%) and Paraguay (11.7%) also entered Chile's top three food exporters at year-end. Overall, the top 10 suppliers accounted for 76.3% of Chile's total agricultural imports at year-end.

In 2023, China (+13.5% or +$54.9 million) and Paraguay (+4.1% or +$46.7 million) saw the largest increases in agricultural exports to Chile. China's supply of fish and marine mammal fats and oils increased 5.5-fold (from US$27.7 million to US$152 million). Paraguay's exports of soybean meal and cake increased by 98.9 percent (from $76.7 million to $152.5 million) and rice by 63.7 percent (from $40.5 million to $66.3 million).

Meanwhile, Chile's imports from Argentina (-34.3% or -$1.1 billion), the U.S. (-24.1% or -$336.8 million), and Canada (-32.2% or -$126.7 million) all decreased significantly in 2023. Argentina reduced corn exports by 41.7 percent (from $661.4 million to $385.7 million) and wheat exports by 79.4 percent (from $334.4 million to $68.8 million). The United States reduced its supply of starch production wastes and similar residues by 37.6 percent (from $233.2 million to $145.5 million) and its supply of wheat by 42.5 percent (from $186.9 million to $107.4 million). Canada effectively stopped supplying canola oil to Chile (from $93.9 million to $400,000) and reduced wheat exports by 36.5 per cent (from $246.2 million to $156.4 million).

II. Chile's Agricultural Exports

In 2023, Chile's agricultural exports amounted to $21.4 billion, down 7.7% from 2022. Meanwhile, the country's agricultural exports grow by an average of 4.4% per year from 2019-2023.

Chile's agricultural exports in 2023 are based on fillets and other fish (18.0%), cherries (9.6%), frozen fish (9.1%), and wine (7.1%). Overall, the top 10 exported agricultural products account for 63.4% of the country's agricultural exports.

In 2023, Chile experienced the most significant growth in exports of fresh and frozen fish (+8.4% or +$88.7 million), as well as fishmeal unfit for consumption (+18.8% or +$75.1 million). Meanwhile, Chilean exports of fresh grapes (-53.2% or -$921.4 million), wine (-20.1% or -$384.1 million), and frozen fish (-6.0% or -$123.2 million) decline significantly in 2023.

The leading importer of Chilean agricultural products in 2023 is the United States (26.0% of exports). The top three importers also include China (17.2%) and Japan (8.2%). Overall, the share of the top 10 selling markets accounted for 72.9% of Chile's agricultural exports at the end of 2023.

The largest increases in Chilean agricultural purchases in 2023 compared to 2022 were in Spain (+17.4% or +$75.5 million) and Russia (+17.1% or +$67.3 million). Spain's purchases of shellfish products and canned goods increased by 43.7% (from $59.7 million to $85.7 million), and imports of avocados increased 2.4-fold (from $13.5 million to $32.5 million.) In 2023, Russia's imports of frozen fish increased by 25.0% (from $243.9 million to $305 million).

Meanwhile, imports from Chile declined in 2023 in the Netherlands (-68.0% or -$1,101.9 million), Japan (-15.1% or -$313.0 million), and the United States (-5.3% or -$311.5 million). Compared with the previous year, purchases of fresh grapes from the Netherlands decreased by 93.9 percent (from $743.8 million to $45.1 million), and imports of fresh kiwi decreased by 94.7 percent (from $299.0 million to $15.7 million). Japanese purchases of frozen fish decreased by 24.2 percent (from $704.7 million to $534.4 million) and pork and swine by-products decreased by 37.6 percent (from $250.4 million to $156.1 million). U.S. purchases of poultry decreased by 51.0 percent (from $414.1 million to $203.1 million), and purchases of fruit (except some wild berries) and frozen nuts decreased by 57.7 percent (from $223.5 million to $94.6 million).

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