Chile exports to China more than double last year’s in first six months of 2010

Chile’s exports to China rose sharply this year in the period January to June, emphasising the country’s firm position as principle destination for Chilean exports.

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A 6-month comparison between this year and last year’s total export revenues has shown massively increased activity between Chile and China.

Exports to China over the last 6 months totalled around US$ 9 billion – a 60% increase on figures declared by customs for the same period 2009.

Since a free-trade agreement was signed in 2006, exports to China have been rising fast.

Last year, total Chilean exports to the Chinese market amounted to US$ 11.89 billion, representing a growth of 18.9% in comparison with 2008 figures. A 2009 analysis of Chilean exports illustrated how exports to China rose 17% that year, yet fell strongly for the second and third highest grossing countries, the United States (28%) and Japan (38%).

A comparison between 2009-10 export figures for this 6 month period does register an increase for the U.S. (15.3%), but this is far overshadowed by Chile’s Asian partner Japan, exports to which also rose 62.5%.

Principally responsible for the sharp rise in export revenues is an increase in copper sales, totalling US$ 18.2 billion. Yet Chilean food exports have also proved highly lucrative.

Import revenues have also increased, showing an increase of 35.1% over the 6-month period. The principle providers in this case were China, the U.S. and South Korea.

This post is also available in Spanish