Chilean exports reached ten new markets in 2009

According to the “2009 Analysis of Chilean Exports,” China is main destination for the South American country’s exports.

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Chilean exports managed to reach 10 new destinations in 2009, which earned the country a total of US$ 54.6 million, according to the statistics contained in the “2009 Analysis of Chilean Exports,” a report that ranked China as the main destination for the South American country’s products.

According to an investigation by ProChile, the markets that were incorporated or reincorporated last year were Denmark, Jersey, Afghanistan, Azerbaijan, Bosnia and Herzegovina, Gambia, Tuvalu, Kirgizstan, the Republic of the Seychelles, Eritrea, and Uzbekistan.

After China, the main markets for Chilean exports are the United States and Japan. The value of exports to the Asian giant grew by 17%, while those to the other destinations fell 28% and 38%, the study revealed.

Meanwhile, in Latin America Brazil continues to be the main importer of Chilean products, receiving exports for close to US$ 2.5 billion, 38% less than what was registered in 2008.

The situation with the countries Chile has established free trade agreements with also showed a downturn, with an average drop of 30% compared to 2008, for a total of US$ 45 billion.

Aside from China, the other Chilean export sector that showed growth was the EFTA, a group of European countries that promotes free trade, with a 39% increase. However, the Asian country managed to displace the old continent as the primary destination for exports, ranked according to markets with trade agreements.

Thus Chile continues to expand into international markets, a process that it has been strongly promoting since the recovery of democracy. The country currently has one of the ten most open economies in the world and one of Latin America’s most stable financial systems, which has allowed it to become the second country in the region to join the Organization for Economic Cooperation and Development, OECD, also known as the “club of rich countries.”

This post is also available in Spanish