Chile Business Opportunities

flag chileChile is a market-oriented economy characterized by a high level of foreign trade.  The country features the longest coastline of any country in the world.

Map of Argentina
Key Industries:
Copper and Other Minerals, Iron and Steel, Lithium, Wood and Wood Products, Transport Equipment, Cement, Textiles, Food Stuffs, Fish Processing
Key Imports:
Petroleum and Petroleum Products, Chemicals, Electrical and Telecommunications Equipment, Industrial Machinery, Vehicles, Natural Gas
Key Exports:
Copper, Fruit, Fish Products, Paper and Pulp, Chemicals, Wine

Trade Environment

Chile Trade EnvironmentIn 2017, the Country’s leading markets for exports were China 27.5%, Japan 9.3%, U.S. 14.5%, Brazil 5.0% and South Korea 6.2%.  Its leading suppliers were U.S. 18.1 %, China 23.9%, Argentina 4.5% and Brazil 8.6%.

Chile's commitment to trade liberalization continued with the signing of a free trade agreement with the US, which took effect on 1 January 2004.  It claims to have more bilateral or regional trade agreements than any other country (26 agreements), with 60 such agreements (not all of them full free trade agreements); agreements include the European Union, Mercosur, China, India, South Korea, and Mexico.  Chile is a member of the Trans Pacific Partnership (TPP) with 18 countries.

 

Business and Market Sector Opportunities

Energy • Industrial Products • Communications • Consumer Goods • Aviation • Gas • Water

Economic Background and Situation

Chile Trade EnvironmentBetween 2003 and 2013, growth ranged between 5.0% 6.0% per year. Throughout this period Chile maintained a low rate of inflation with GDP growth coming from copper prices, export earnings (particularly forestry, fishing, and mining), and growing domestic consumption.  GDP growth slowed in 2017 to 1.7%, but improved in 2018 to 2.8%.

Chile continues to attract foreign direct investment, with most foreign investment going into gas, water, electricity, and mining.

A new President, Mr. Pinero, took office in March 2018.

Additional Resources:
American Chamber of Commerce Chile
Mercosur
Andean Trade Pact

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Chile Fast Facts

Capital: Santiago
Key Cities: Concepcion, Arica, Iquique, Valparaiso
Population 17.9 million ('18 E)
GDP Growth % 3.0 (‘18 E)
2.8 (‘19 E)
GDP 452.1 billion US$ ('17E)
GDP per Capita 24,600 US$ ('17E)
Inflation Rate (%) 2.4 (’18 E) 
Exports 69.3 (’17 E) billion US$
Imports   61.3 (’17 E) billion US$
Exchange Rate
Local Currency-US$
673.0 (’18 E)
E = Estimate F = Forecast

 

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