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Chile

Trade

Chile is highly dependent on trade, which has 56 percent of the country's GDP. Its imports of goods were valued at US$ 65.2 million in 2017, while exports were valued at US$ 68.3 million. Imports of services were valued at US$ 13.1 million, while exports were at US$ 10.2 million. Total goods and services imports increase by 4.7 percent from the previous year, while total exports decreased by 0.9 percent.

The main exported products in 2017 were copper ores and concentrates (25.1 percent), copper, refined, and copper alloys (21.3 percent), chemical wood pulp, soda or sulphate (3.8 percent), fish fillets and other fish meat (3.8 percent), and copper, unrefined, copper anodes (3.5 percent). Main imported products, on the other hand, include motor cars and other motor vehicles principally designed for transport of persons (6.5 percent), petroleum oils and oils obtained from bituminous minerals (excluding crude) (5.9 percent), petroleum oils and oils obtained from bituminous minerals, crude (4.8 percent), transmission apparatus for radio-telephony, etc. (4.0 percent), and motor vehicles for the transport of goods, including chassis with engine and cab (3.6 percent).

Main export destinations include China (27.5 percent), US (14.5 percent), Japan (9.3 percent), South Korea (6.2 percent), and Brazil (5.0 percent), while import sources include China (23.9 percent), US (18.1 percent), Brazil (8.6 percent), Argentina (4.5 percent), and Germany (4.0 percent).

As of 2016, exported services were valued at US$ 11.7 billion. 46.9 percent of this came from travel services, followed by transportation (25.3 percent), other business services (21.6 percent), government services (3.1 percent), insurance services (2.6 percent), royalties and license fees (0.4 percent), and cultural and recreational services (0.2 percent). Import services, on the other hand, was valued at US$ 13.5 billion. Travel (31.7 percent), transportation (31.0 percent), and other business services (20.1 percent) also came to be the top three, followed by royalties and license fees (11.7 percent), insurance services (2.8 percent), government services (2.4 percent), and cultural and recreational services (0.2 percent).

Investment

FDI inward flow of Chile decrease to US$ 6.7 million in 2017 from US$ 11.2 million in 2016. The FDI stocks, however, increase to US$ 275.3 million from US$ 249.7 million.

As of 2016, the main invested sectors include mining (34.9 percent), finance and insurance (32.6 percent), transportation and storage (7.9 percent), electricity, gas, and water (7.7 percent), manufacturing (5.4 percent), wholesale and retail trade, maintenance (4.8 percent), information and communication (2.4 percent), and construction (1.6 percent).

USA was the top investor in 2017, with 21.1 percent share in FDI stocks. Canada (12.5 percent), Netherlands (10.8 percent), Spain (10.6 percent), Brazil (5.7 percent), Bermuda (5.6 percent), Virgin Islands (5.5 percent), UK (4.3 percent), Cayman Islands (3.7 percent), and Japan (3.3 (percent) complete the top 10 investors in 2017.

References:

https://en.portal.santandertrade.com/establish-overseas/chile/foreign-investment? and actualiser_id_banque=oui and id_banque=0 and memoriser_choix=memoriser

(Retrieved on 28 August 2018)

https://en.portal.santandertrade.com/analyse-markets/chile/foreign-trade-in-figures#classification_by_products (Retrieved on 24 October 2018)

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