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Chile’s exports increased 2.9% in 2022

Chile

‘s exports increased at a year-on-year rate of 2.9% in 2022, to US$97.491 billion, according to data from the Customs Administration.

Chile has 31 Free Trade Agreements (FTAs) and Preferential Trade Agreements with 65 economies representing about 88% of the world’s GDP.

On the other hand, imports to Chile were 104,407 million dollars, which implies a growth of 13% year-on-year.

Chile’s extensive FTA network reflects the country’s commitment to open free trade and investment as an essential part of its economic growth.

From a regional perspective, Chile participates in several regional agreements to promote cooperation in trade, investment and services.

Chile is a member of ALADI, a regional trade association, and an associate member of the Southern Common Market (Mercosur), an economic and political trade bloc designed to promote free trade in Latin America.

Chile is also a founding member of the Pacific Alliance Free Trade Agreement with Colombia, Peru and Mexico.

The country has also concluded several bilateral trade agreements with neighboring countries such as Ecuador and Paraguay, among others.

Chile’s exports

Since 2010, Chile has been a member of the Organization for Economic Cooperation and Development (OECD), becoming the first South American member of the OECD to join this organization.

Chilean exports of products had the following results: 2018 (US$75,827 million), 2019 (US$72,780 million) and 2020 (US$69,965 million).

On March 22, 2019, to build and consolidate a regional space for coordination and cooperation, the Presidents and Representatives of Chile, Colombia, Brazil, Peru, Ecuador, Argentina, Paraguay and Guyana launched the Forum for the Progress of South America (Prosur). In 2022, Chile decided to suspend its participation in Prosur for an unlimited period of time.

Chile is negotiating the improvement and deepening of several trade agreements, including the Economic Partnership Agreement with the European Union. In October 2021, technical negotiations concluded after 13 oral rounds of negotiations and several inter-sessional rounds, which began in 2018.

The parties are currently discussing the final issues regarding the structure of the agreement and will soon start the legal vetting process to finalize the agreement in due course.

Since 2016, Chile has been negotiating with the European Free Trade Association (EFTA) to improve and modernize the current Free Trade Agreement between the two parties. Several rounds of negotiations have taken place and the parties have made significant progress with the objective of finalizing the negotiations soon.

 

Redacción Opportimes