Chile recorded a trade surplus of $1.69 billion in August, widening from $1.55 billion a year earlier as exports rose at a double-digit pace, supported by strong growth in mining and industrial shipments.
The surplus was nevertheless the country’s smallest since August 2025, as imports also increased sharply during the month.
Exports climbed 11.8% year over year to approximately $9.5 billion, according to data from the Central Bank of Chile. Mining shipments increased 9.5%, while industrial exports rose 15%.
Gold and Lithium Exports Surge
Mining remained the dominant component of Chilean exports, totaling approximately $5.72 billion in August.
Gold shipments surged 192.2% from a year earlier, while lithium exports jumped 207.5%. Despite the overall increase in mining exports, copper shipments declined 3.2% year over year to approximately $4.63 billion, marking their first annual decline since December 2023.
Industrial exports also strengthened, increasing 15%. Shipments of basic metals rose 28.2%, while exports of metal products, machinery and equipment increased 32.8%.
Imports Rise 12.5% as Vehicle Purchases Jump
Imports increased 12.5% to approximately $7.8 billion, reflecting stronger purchases of consumer and intermediate goods.
Consumer-goods imports rose 16.5%, led by a 70.7% surge in vehicle imports. Intermediate-goods purchases increased 20.5%.
Energy imports were particularly strong. Oil imports jumped 120.5% from a year earlier, while diesel purchases increased 63.2%.
The increase came as Chilean companies have reported higher costs associated with elevated fuel prices, including indirect effects on transportation and other inputs, according to the Central Bank’s August business perceptions report.
Capital Goods Imports Decline
Capital-goods imports moved in the opposite direction, falling 6.3% year over year to about $1.69 billion. The decline marked the fourth consecutive month of contraction in the category.
The August figures show Chile’s exports continuing to expand, with particularly strong gains in lithium, gold and industrial products, while rapidly rising imports narrowed the difference between export and import growth. The decline in copper shipments and capital-goods imports provided contrasting signals within an otherwise stronger month for external trade.
