Foreign investment in Chile: record figures for 2024
During the last few months, Chile reaffirmed its position as a solid country in international trade and foreign investment, with historical figures that highlight the dynamism of its exports of goods and services, as well as its capacity to attract foreign capital. These figures are a reflection of long-term joint work between the public and private sectors in the search to diversify markets and strengthen the national economy.
The boost in foreign investment
Between January and September 2024, accumulated foreign direct investment (FDI) reached US $11.76 billion, exceeding by 5% the average of the last 20 years for this period. Meanwhile, a report by the Capital Goods Corporation (CBC) in the second quarter of this year projected that 77% of private investment in Chile by 2028 will correspond to foreign companies.
Record exports of services
For the first time in history, exports of services in Chile exceeded US $2.5 billion, with an accumulated growth of 18% through November, reaching US $2.518 billion. This milestone reflects the progress in the diversification of the export basket, highlighting services such as aeronautical maintenance, logistics support, software development, digital animation and specialized consulting in mining and medical sciences.
The United States led as the main destination for these services, with US $839 million, followed by Peru (US $436 million) and Colombia (US $185 million), markets that together accounted for 58% of total exports.
Exports of goods: the best historical record
According to the latest Central Bank report, in 2024, Chilean goods exports reached US $100,163 million, marking a growth of 5.9% over the previous year. This result is driven by historical records in copper concentrates, forestry products, fresh fruit and organic food.
In the mining sector, which leads exports with US$ 52,280 million (+9.5%), shipments of copper concentrates, copper cathodes and gold stand out. Meanwhile, fresh fruit exports, which accumulated US $6,968 million (+20.3%), continue to set records thanks to products such as kiwis, plums, grapes and fresh cherries. In November alone, cherry shipments reached US$ 70 million (+42%), with China, the United States and Brazil as the main markets.
Other sectors such as wine (US $1,509 million, +6.4%), cellulose (US $2,690 million, +18.9%) and machinery (US $1,193 million, +11.2%) also contributed to export growth.
Chile, a global leader in seafood
The year 2024 also consolidated Chile as a global leader in seafood, with exports reaching US $710 million in November, the third best monthly record ever. Products such as salmon and trout led with US $609 million, while cuttlefish and jack mackerel recorded exceptional growth (+289.1% and +234.5%, respectively).
United States, Japan and Spain were the main destinations, reflecting the success of the market diversification strategies implemented by the sector.
Check out more 2024 milestones for Chile in our year-end special.
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