DRT International offers the cheapest shipping rates and services to and from Chile! Here are some facts about Chile and the reason why DRT International has singled out Chile as an emerging market and a country exporters shouldseriously consider:
U.S. goods and services trade with Chile totaled $33 billion in 2012 (latest data available). Exports totaled $22 billion; Imports totaled $11 billion. The U.S. goods and services trade surplus with Chile was $11 billion in 2012.
Chile is currently our 29th largest goods trading partner with $27.9 billion in total (two ways) goods trade during 2013. Goods exports totaled $17.6 billion; Goods imports totaled $10.4 billion. The U.S. goods trade surplus with Chile was $7.2 billion in 2013.
Trade in services with Chile (exports and imports) totaled $4.6 billion in 2012 (latest data available). Services exports were $3.2 billion; Services imports were $1.4 billion. The U.S. services trade surplus with Chile was $1.9 billion in 2012.
Exports
- Chile was the United States’ 21st largest goods export market in 2013.
- U.S. goods exports to Chile in 2013 were $17.6 billion, down 6.3% ($1.2 billion) from 2012, but up 548% from 2003, (pre-FTA).
- The top export categories (2-digit HS) in 2013 were: Mineral Fuel (oil) ($6.0 billion), Machinery ($2.7 billion), Vehicles ($1.5 billion), Electrical Machinery ($1.1 billion), and Aircraft ($832 million).
- U.S. exports of agricultural products to Chile totaled $891 million in 2013. Leading categories include: wheat ($184 million), feeds and fodders (excluding pet foods) ($104 million), poultry meat (excluding eggs) ($72 million), and beef and beef products ($69 million).
- U.S. exports of private commercial services* (i.e., excluding military and government) to Chile were $3.2 billion in 2012 (latest data available), 6.6% ($201 million) more than 2011 and 183% more than 2002 levels. It was up 180% from 2003 (Pre-FTA). Other private services (business, professional, and technical services and financial services), and travel categories accounted for most of the U.S. exports in 2012.
Imports
- Chile was the United States’ 33rd largest supplier of goods imports in 2013.
- U.S. goods imports from Chile totaled $10.4 billion in 2013, up 10.6%, ($992 million) from 2012, and up 180% from 2003, (pre-FTA).
- The five largest import categories in 2013 were: Copper ($3.5 billion), Edible Fruit and Nuts (grapes, blueberries) ($1.8 billion), Fish and Seafood (salmon fillets) ($1.3 billion), Wood ($701 million), and Rubber ($359 million).
- S. imports of agricultural products from Chile totaled $2.9 billion in 2013, the 8th largest supplier of Ag imports. Leading categories include: fresh fruit ($1.6 billion), planting seeds ($413 million), wine and beer ($321 million), and processed fruit and vegetables ($254 million).
- U.S. imports of private commercial services* (i.e., excluding military and government) were $1.4 billion in 2012 (latest data available), up 7.5% ($96 million) from 2011, and up 94% from 2002 levels. It was up 121% from 2003 (Pre-FTA). Other private services (business, professional, and technical services), other transportation (freight services), and travel categories accounted for most of U.S. services imports from Chile.
- Upon entry into force of the U.S.-Chile Free Trade Agreement (FTA) in 2004, 80 percent of U.S. consumer and industrial goods exports to Chile immediately became duty free. Tariffs on the remaining products have been nearly phased out, with 100 percent of products set to be duty free by 2015. To be eligible for tariff-free treatment under the FTA, products must meet the relevant rules of origin.
- The FTA also provides favorable access for U.S. service suppliers and guarantees of protection to U.S. investors and U.S. copyrights, trademarks and patents registered in Chile. In addition, Chile has opened up significant government procurements to U.S. bidders.
- Chile’s open economy and strong democratic institutions make it one of the most stable countries for doing business in the region. The U.S.-Chile FTA also provides a framework that makes Chile an ever better place to do business.
- U.S. goods exports to Chile increased 548 percent in the 10 years since the FTA went into effect, from $2.7 billion in 2003 to $17.6 billion in 2013. In 2013, Chile’s economy grew by 4.4 percent and its inflation remained below 2 percent.
By Sector
Principal U.S. exports to Chile in 2013 were mineral fuel and oil, machinery, vehicles, electrical machinery, and aircraft and parts. U.S. exports of services to Chile have also grown substantially, reaching over $3.2 billion in 2012.
Growth of US Exports to Chile:
- Computer and Electronic Products
- Chemicals
- Transportation Equipment
- Machinery
- Petroleum and Coal Products
Contact DRT today for more information about Chile or for a free quote you can fill out the “Free Quote” form and then submit.
