Chile-China bilateral trade surpasses $61 billion in 2024

Bilateral trade between Chile and China reached $61.66 billion in 2024, an 8.6-fold increase from 2006. Chilean cherries have emerged as a key symbol of this partnership, with exports nearing $3.3 billion in the 2024/25 season. Industry leaders remain optimistic despite a slight volume decline.

Since the China-Chile Free Trade Agreement took effect in 2006, economic ties between the two nations have expanded dramatically. Chilean Ambassador to China Pablo Arriaran noted that bilateral trade hit $61.66 billion in 2024, the highest per-capita value between China and any South American country.

Chilean cherries stand out in this trade, with exports to China valued at nearly $3.3 billion in the 2024/25 season. Arriaran said: "With their auspicious red color conveying the warmth of the Chilean sun during China's winter, cherries have become a symbol of the close ties between our two countries."

Frutas de Chile president Ivan Marambio stated that China is Chile's largest market, receiving 90 percent of cherry exports and 40 percent of all fruit. Representing over 200 exporting companies, the group aims to deepen consumer ties. Marambio added: "Now, we want to take the relationship with Chinese consumers to the next level... We want cherries to become part of everyday life, expanding how and when people enjoy them."

This year, export volumes fell 12.1 percent due to an early harvest advancing the season by 7 to 10 days. Beijing's Xinfadi wholesale market data shows prices dropping from 36 yuan ($5.2) per 500 grams in 2024 to 26 yuan in January 2026. Marambio emphasized: "The core advantage of our fruit comes from the quality... That is our main strength."

Chilean Cherry Committee executive director Claudia Soler highlighted growth potential in China's second- and third-tier cities. A new initiative, the Chilean Cherry Ice & Snow Festival in Changchun, Jilin province, links cherries to winter sports. Soler said: "The idea is to connect our cherries with winter sports to create a fun and exciting experience... positioning cherries as a premium product during the winter months."

Logistics improvements have cut delivery times to 22 days via direct routes to Shanghai and Tianjin. Marambio views collaboration with Chinese growers positively: "It's not a competition for us... Our goal is to keep elevating the cherry category as a whole."

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Photorealistic scene of Busan Port symbolizing South Korea's 14.9% export surge to $36.36 billion driven by semiconductors, with a minor trade deficit.
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South Korea's exports rise 14.9% in first 20 days of January

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South Korea's exports expanded 14.9 percent year-on-year in the first 20 days of January, reaching $36.36 billion, fueled by strong semiconductor demand. Imports grew 4.2 percent to $36.98 billion, resulting in a $600 million trade deficit. Data from the Korea Customs Service underscores ongoing growth in key sectors.

China's exports rose 5.5 percent in 2025 to US$3.77 trillion, while imports stayed flat at US$2.58 trillion, yielding a record trade surplus of US$1.19 trillion. The performance beat forecasts despite trade headwinds, fueled by diversification into markets like Asean and Africa. Officials attribute the strong results to supportive policies and the country's industrial depth.

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China has announced annual quotas and a 55% tariff on beef imports exceeding limits for South American suppliers like Argentina, Brazil, and Uruguay, but Colombia is exempt due to its small market share.

Brazilian officials lack clarity on whether beef shipments en route to China will count against Beijing's new import quotas announced last week. The volume is small relative to 2025 exports, but the industry fears sales disruptions amid the broader safeguard measures affecting major exporters like Argentina and Australia.

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Building on China's safeguard measures announced January 1, 2026, which impose country-specific beef import quotas through 2028 with 55% tariffs on excess volumes (12.5% within limits), Argentina receives 511,000 tons—exceeding 2025 exports by about 100,000 tons—positioning it and Uruguay as key beneficiaries compared to Brazil and Australia. This eases concerns in Argentina's cattle sector, supporting growth without severe restrictions, though capping major expansions.

South Korea's exports fell 2.3 percent year-on-year in the first 10 days of January, despite robust semiconductor shipments. According to Korea Customs Service data, outbound shipments totaled $15.55 billion for the period. Weaker performance in automobiles, vessels, and steel products offset the gains.

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Chinese cosmetics brands are rapidly expanding in global markets, narrowing the gap with South Korea's K-beauty powerhouse. In the first 11 months of 2025, China's exports reached $3.99 billion, up 8.7 percent, while Korea's hit a record $10.3 billion, rising 11.8 percent, though China's faster growth signals intensifying rivalry.

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