As for EU-Chile investment relations, the EU has remained Chile’s first FDI provider, responsible for 33 % of FDI stock. EU investment in Chile has doubled during the first 10 years and per capita is higher than investment from Brazil, China and Mexico taken together. Italy, Spain, and the UK account for 82.5 % of EU FDI stock, targeting chiefly utilities, mining and financial services. EU FDI to Chile plays a key role in the diversification of the Chilean economy, particularly the energy sector, and in reducing CO2 emissions. Chile attracts 36 % of the roughly US$58.8 billion the EU invests in renewables in Latin America. In 2015, EU FDI outflows declined due to a downturn in the Chilean mining sector, which has traditionally received about 45 % of total FDI.
Chilean FDI stock in the EU is concentrated on services (55 %) and industry (44.9 %) in Croatia, Germany, France, Belgium, and Spain. In 2015, FDI inflows from Chile more than halved due to a decline in growth rates in Chile, but recovered in 2016. Chile’s FDI outflows to the world dropped from an all-time peak in 2013 to much lower levels in 2014 and 2015. FDI outflows are concentrated on Chile’s neighbours and, sector-wise, at 47 % on services and 25 % on manufactures.