Chile Business Opportunities
Chile 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.
- 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
In 2017, the Country’s leading markets for exports were China 28.6%, Japan 8.6%, U.S. 14.1%, Brazil 5.0% and South Korea 6.9%. Its leading suppliers were U.S. 14.7 %, China 24.3%, Argentina 4.4% and Brazil 9.3%.
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 (22 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.
Business and Market Sector Opportunities
Energy • Industrial Products • Communications • Consumer Goods • Aviation • Gas • Water
Economic Background and Situation
Between 2000 and 2007, growth ranged between 2%-6%. 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.
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.