MOPA -- Media, All-In-One Agency, Blockchain Development
Social Media/Email
  • WORK
  • NEWS
  • SERVICE
  • CONTACT

Trade Between Chile And China Grew 22 Percent In 7 Years As China Became Chile's Biggest Trading Partner

9/6/2013

0 Comments

 
Picture
(Chile's President Sebastián Piñera, left, with his Chinese counterpart, Xi Jinping. Gobierno de Chile)

September 06 2013, IBTIMES
Trade between Chile and China grew 22 percent since the two countries signed a Free Trade Agreement(FTA) in 2005. According to the Chilean Department of Studies of International Economic Relations, or Direcon, as it's known in Spanish, in 2012 Chile-China trading increased 4 percent compared to the previous year.
China received more Chilean exports than any other nation for the first time in 2007, when it surpassed the United States for that distinction. That year, exports to China represented 15.5 percent of Chile's exports, whereas the U.S. accounted for only 14.7 percent of exports. In 2012, Chile’s exports to China reached $18 billion, compared to its exports to the U.S., which totaled $9.4 billion.

Before then, the U.S. had been Chile’s biggest export market, especially after the Free Trade Agreement between the two countries came into force in 2004. By 2009, bilateral trade between the two countries increased 141 percent to $15.4 billion. 

But as China’s FTA agreement came into force in 2006 -- the first of its kind with a Latin American country -- China took a particular interest in Chile’s copper industry, the world's largest largest. As a result, 80 percent of the country's exported copper in 2012 went to China, totaling $14 billion.

Non-mining produce, like fruit, grew 83 percent in exports to China between 2005 and 2012.

The U.S.' biggest imported item from Chile was also copper, but the U.S. imported much less of it than China: $3.2 billion in 2012. Other goods imported from Chile included fruits ($1.4 billion), fish ($988 million) and wood ($562 million).

“Since we signed the FTA, trade between China and Chile has not stopped growing -- 10 years ago, Chile exported less than $1 billion [worth of goods and services] to China. Today, we export more than $18 billion,” said Mathias Francke, director of Direcon.

Nevertheless, the United States is still the nation from which Chile imports the most goods and services. In the last 10 years, U.S. exports to Chile grew 600 percent, from $2.7 billion in 2003 to $18.9 billion last year. In that decade, Chile grew from being the 35th largest market for U.S. exports to the 19th largest. The top U.S. exported goods to Chile in 2012 were oil, planes and electrical machinery.

China is Chile's second biggest partner for imports. China imported $14.4 billion worth of manufactured goods, consisting mostly of mobile technology parts for laptops and cell phones. Imports from China increased 13 percent from 2011, and they grew by 24 percent compared to 2005.
Original Link:
http://www.ibtimes.com/trade-between-chile-china-grew-22-percent-7-years-china-became-chiles-biggest-trading-partner
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    News WorldWide

    MOPA
    ​Media, 
    All-In-One Agency, Blockchain Development

    Online Service

    ​Media
    ​Branding
    ​Celebrity Content
    ​Cultural Exchange
    Digital Marketing
    Public Relations
    Makeup
    Blockchain Project

    Our location:
    ​
    Auckland, ​New Zealand​
    Brisbane, Australia
    Shanghai, China
    Singapore


    Email:  info@mopa1.com
    Picture
     

    Archives

    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    April 2021
    March 2021
    February 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    August 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    October 2016
    November 2014
    August 2014
    July 2014
    April 2014
    March 2014
    February 2014
    October 2013
    September 2013
    June 2013

    Categories

    All
    Asia Pacific
    Australia
    Brazil
    Chile
    China
    Cuba
    Japan
    Latin America
    Mexico
    Singapore
    United States
    Venezuela
    Vietnam

    RSS Feed

Powered by Create your own unique website with customizable templates.