Trade between Chile and the United States has grown 23.4% since 2004

The US economy has also emerged as the main importer of Chilean products, except for copper.

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Commercial exchanges between Chile and the United States have grown 23.4% since 2004, the year in which the Free Trade Agreement (FTA) between the two countries entered into effect.

This increase is to a great degree due to the growth in US exports to Chile, which have grown at a rate of over 30% in the last two years.

This information was made public in a communiqué celebrating the sixth anniversary of the FTA’s entry into effect and it also highlights that transactions between the two countries had increased 19.2% in 2009 compared to 2008, totaling US$ 20 billion. Meanwhile, Chilean exports to the United States during that same period totaled US$8.13 billion.

While it is true that the world economic crisis affected the financial and commercial activity between the United States and the world, and of course Chile as well, the US economy has positioned itself as the main destination for Chilean products other than copper.

“When copper exports are excluded from the analysis, you can see that US participation in our country’s non-copper sales increased by almost 16%, making it our main market for this type of products,” says Carlos Furche, general director of International Economic Relations (DIRECON), the institution in charge of implementing and coordinating Chile’s economic relations with the rest of the world.

It should be noted that the FTA between Chile and the United States was signed on 6 June 2008 and entered into effect in January 2004. Among other measures, it provided for the gradual lifting of taxes on the products traded between the two countries. In 2015, 100% of exchanges should be free of all duties.

This post is also available in Spanish