Chile Exports Hit $60bn. Copper Out-Earned All Other Goods

Trade

Key Facts

—The record. Goods exports reached $60.354bn between January and June, up 14.2%, the first half-year above $60bn.

—The metal. Copper alone brought in $30.236bn, or 50.1% of everything Chile sold abroad.

—The surge. Lithium exports hit $3.218bn, up from $1.118bn a year earlier, and already exceed the whole of 2025 by 34.4%.

—The surplus. The trade balance ran a $17.29bn surplus, the largest half-year in a series that begins in 2003.

—The laggards. Wine exports fell 8.9% and forestry 12%, while mining rose 20.4%.

—The buyer. China took 33.9% of shipments; sales to India more than doubled, rising 109% to $2.871bn.

Chile exports broke sixty billion dollars in a single half-year for the first time, a number the government called a milestone in a difficult world. Look at what is inside it and the achievement starts to read as a warning.

Goods shipments reached sixty billion three hundred and fifty-four million dollars between January and June, fourteen point two percent above the same period last year. The figures come from the monthly trade report published by SUBREI, the government body for international economic relations, which draws on central bank and customs data.

Copper accounted for thirty billion two hundred and thirty-six million dollars of that. Every other good Chile sold abroad, added together, came to thirty billion one hundred and eighteen million, so the red metal narrowly out-earned the rest of the export economy combined.

Mining as a whole made up sixty-one percent. The remaining thirty-nine percent, the part of the economy that employs most Chileans, grew by five point six percent while mining grew by twenty point four.

What is really driving Chile exports

The uncomfortable part is that Chile did not sell dramatically more this year. It sold at dramatically better prices.

Copper averaged five dollars ninety-four cents a pound across the half-year. Mining revenue climbed twenty point four percent, while copper’s own value rose eleven point five, the gap between the two telling you volumes did not carry this.

This newspaper reported in May that April’s copper shipments rose only zero point three percent by value, with concentrate volumes actually falling. Analysts noted then that the mining gain was a price effect rather than more metal leaving the country.

The half-year data confirms that the pattern held. A record built on prices is a record that can be unbuilt by prices.

Lithium is the genuine surprise

One number in the release deserves more attention than it has received. Lithium shipments reached three billion two hundred and eighteen million dollars in six months, which is thirty-four percent more than the metal earned across the whole of last year.

Against the first half of 2025, when lithium brought in one billion one hundred and eighteen million, the increase is nearly threefold. Lithium’s share of national exports climbed from about two percent to five.

The government credits higher shipments of lithium hydroxide and carbonate, alongside copper and gold, for the surge in sales to India. That single market grew one hundred and nine percent.

Six months of lithium sales now exceed what the metal earned in the whole of 2025 by more than a third. The mineral has gone from a rounding error to roughly five percent of national exports.

The parts of Chile that are shrinking

Underneath the mining boom, the older export economy is contracting. Wine shipments fell eight point nine percent and the forestry sector fell twelve.

Food exports did set a record at seven billion one hundred and twenty-one million dollars, driven by salmon, trout, frozen fruit and preserved mussels. That is real, and it grew four point two percent, well behind mining.

Services exports rose seventeen point two percent to one billion eight hundred and forty-three million dollars, covering aircraft maintenance, web hosting and technical support. The base is small enough that the growth barely moves the national picture.

The Santiago daily La Tercera called the trade figures a balm arriving amid adverse macroeconomic numbers. In its June report the central bank trimmed its growth forecast for this year, citing weakness in the natural-resource sectors.

What Chile exports tell a foreign investor

Two facts sit awkwardly together. Chile has just posted its largest trade surplus since records began in 2003, seventeen billion two hundred and ninety million dollars, and its economy is growing slowly.

That gap is the definition of a commodity economy. Money arrives through the mines, and whether it reaches wages and the rest of the country depends on policy rather than on the copper price.

One genuine diversification is visible in the destinations. India took two billion eight hundred and seventy-one million dollars of Chilean goods, up one hundred and nine percent, and Santiago is negotiating a trade agreement with it.

Watch that negotiation, and watch whether lithium’s share keeps climbing. Those are the two places where Chile’s dependence on one metal and one buyer might actually loosen.

How much did Chile exports reach in the first half of 2026?

Goods exports totalled sixty billion three hundred and fifty-four million dollars between January and June, a rise of fourteen point two percent and the first time Chile has passed sixty billion dollars in a single half-year. Total trade, counting imports, came to one hundred and six billion four hundred and ninety-eight million dollars.

Why did lithium exports rise so sharply?

Shipments reached three billion two hundred and eighteen million dollars, nearly three times the first half of 2025, and already exceed the whole of last year by thirty-four point four percent. Stronger demand for battery materials, led by buyers in China and India, drove the increase.

Is Chile too dependent on copper?

Copper made up half of all export earnings in the first half of 2026 and mining more than sixty percent, so a fall in metal prices would hit government revenue and the currency directly. Wine and forestry shipments both declined over the same period, showing little offsetting growth outside mining.