Underdevelopment is on the mind: In 2023, Chilean salmon exports generated 150% more foreign exchange than shipments

Frozen Trout
Market & Price Trends
Published Jan 28, 2024

Tridge summary

In 2023, Chile's farmed fish exports, primarily salmon and trout, reached a record $6.46 billion, making it the country's second largest export after copper. The main markets were the US, Japan, and Brazil, with increasing exports to Russia and China. This contributed to a historical high of $43.66 billion for Chile's non-traditional exports. In contrast, Argentina's beef exports totaled $2.59 billion, significantly lower than Chile's fish exports. Chile's success is attributed to its Free Trade Agreements and stable macroeconomy, while Argentina's growth is hindered by restrictive legislation and market dependence.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

In 1985, the American researcher Lawrence Harrison published the book “Underdevelopment is a State of Mind” to refer to the backwardness present in Latin America. Since then some nations learned their lesson. But others don't. In 2023, Chilean exports of farmed fish (salmon and trout) were 6,461 million dollars, most of which correspond to shipments made to the traditional markets of the United States (2,803 million dollars), Japan ( 932 M/u$s) and Brazil (829 M/u$s), although exports to Russia (342 M/u$s) and China (309 M/u$s) have been growing. Farmed fish were Chile's second export product last year, behind traditional copper (43,395 M/u$s) and one step above lithium (6,249 M/u$s). Salmon, along with fruits, cellulose, wines and meats, was one of the main protagonists that allowed Chilean non-traditional exports (that is, those that do not correspond to the mining sector) to reach a historical record of 2023. 43,663 million dollars. Chile's total exports last year – traditional ...
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