Chile Posts Record January Trade On Copper Boom And Cherry Exports, But Tariff Clouds Loom

(MENAFN- The Rio Times) Key Points

- Chile's trade exchange hit $18 billion in January, the highest ever recorded for the opening month of a year, with exports surging 8.5% to $10.7 billion - records for both traditional and non-traditional shipments.
- Copper drove the boom, with mining exports jumping 12.1% to $5.6 billion as prices breached $13,000 per ton - but a looming U.S. Commerce Department review on tariffs due by mid-2026 threatens to reshape global flows.
- Fresh cherries bound overwhelmingly for China led a record fruit export season, underscoring Chile's deepening commercial dependence on Beijing at a moment of rising U.S.-China trade friction.




Chile kicked off 2026 with the strongest January trade performance in its history, crossing the $18 billion mark for the first time in the opening month of a year. Total trade exchange reached $18.04 billion, up 3.1% year-on-year, extending a remarkable streak of 17 consecutive months of growth, according to data released Wednesday by the Undersecretariat of International Economic Relations. Non-traditional exports also set a record, climbing 9.8% to $5.62 billion.

Exports alone accounted for $10.68 billion, an 8.5% jump driven by record performances across both traditional and non-traditional sectors. Mining led the way with $5.56 billion in shipments - a 12.1% increase - fueled by copper cathodes and concentrates that returned $4.55 billion. Gold, lithium carbonate, iron, molybdenum, and silver all posted gains exceeding $35 million each. Mining alone represented 52% of Chile 's total exports.



The fruit sector contributed $1.77 billion, or 17% of all shipments, led by fresh cherries headed overwhelmingly to China. Over 90% of Chile's cherry exports now go to a single market, where faster "Cherry Express" shipping routes and a zero-tariff trade agreement have transformed what was once a seasonal luxury into an everyday consumer product. The industry projects roughly 550,000 tons of cherries shipped this season, supporting around 200,000 jobs domestically. The food industry added another $1.32 billion, powered by salmon, frozen mackerel, and deep-sea cod.

The numbers are a vindication of Chile's open-economy model, but the outlook is not without risk. Copper prices have surged past $13,000 per ton, partly driven by traders stockpiling metal in the U.S. ahead of potential tariffs. A Commerce Department review due by mid-2026 will determine whether phased tariffs of 15% to 30% on refined copper imports go ahead - a decision that could redirect Chilean shipments further toward China and compress margins for producers.

That growing reliance on Beijing is a strategic vulnerability Chile's policymakers can no longer ignore. With copper and cherries both anchored to Chinese demand, any slowdown in the world's second-largest economy - or escalation in U.S.-China trade tensions - would hit Santiago harder than almost any other capital in Latin America. For now, the record numbers tell a story of strength. The question is how long the tailwind holds.

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