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Chile Top five trade partners

Figure 4 – Chile: Top five trade partners

Chile: Top five trade partners

In 2017, total EU-Chile trade in goods amounted to more than €17 billion, with a modest trade surplus of €0.5 billion for the EU. This represents a more than two-fold increase from €7.7 billion in 2003. EU exports consist mostly of industrial goods such as machinery and transport equipment as well as manufactured products, among others chemical products. Chilean exports to the EU are chiefly made up of agricultural products (such as fruit), copper and other metals, and industrial products (such as food, wine and cellulose). The increase in the value of Chilean exports is largely due to the recovery of copper prices. Although in 2017 copper still accounted for 45.5 %, the structure of Chilean exports to the EU has become somewhat more diversified, as since 2012 the share of fruit, wine, cellulose in exports has expanded and exports of beverages, fruit and seafood have seen double-digits growth rates. Chilean exporters tend to make more use of the FTA’s trade preferences than their EU counterparts.
The preference utilisation rate on EU imports from Chile in 2016 was 95 %, the utilisation rate on EU exports to Chile stood at 73.9 % in the same year, down from 78.3 % in 2013.
EU-Chile trade in services was worth €5.5 billion in 2016, slightly down from €5.6 billion in 2015. From 2004 to 2012, EU imports of Chilean services grew by 94 %. From 2010 to 2015, EU exports of services increased by 27 %, while EU imports rose by 29 %.

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