Interested in Chilean Imports? Read on for facts and info on the major Chilean imports…
Chilean imports are valued at a total of USD $35.37 billion and include commodities like petroleum and petroleum based products, natural gas, heavy equipment and machinery, electrical and telecom equipment and even automobiles.
Product Mix of Chilean Imports
Chilean import partners include USA at 15.6%, Argentina at 12.6% and Brazil at 11.8%, followed by China at 9.7% of the total USD $35.37 billion value. Approximately 222,900 bbl/day of oil are imported and the electricity import figure for 2004 was 1.744 billion kWh. The figures in this article pertain to 2006 unless specified.
Of the USA imports into Chile in 2006, the total of USD $6.8 billion comprised of petroleum products valued at US $659.6 million, commercial aircraft at USD $577 million, fuel oil $424.7 million, computer accessories at USD $308.4 million, materials handling equipment $303.1 million, complete military aircraft USD $294.9 million, excavation machinery $280.1 million, minimum value shipments USD$211.6 million, computers USD $189 million and finally telecom equipment $177.9 million.
Comparison of the increase in the value of Chilean Imports 2005 – 2006
The high net growth imports into Chile in 2006 were complete military aircraft $294.9 million (up 51,459% from 2005), Soybeans USD$12.2 million (up 41,990%), Corn USD $81.2 million (up 320%), unfinished agricultural industry materials USD $9.3 million (up 254%) and finally wheat valued at US $37.9 million (up 219%). Of the total value of imports Copper makes up 40% of the basket and it is followed by military aircraft & soybeans. The Chilean population crossed the 16 million mark.
United States Trade Deficit to Chile
In 2006, Chilean Exports to the US were values at US$9.6 billion taking the net worth of exports up by 43.5% from 2005. On the other hand imports into the country from the US increased by 30% and were valued at $6.8 billion in 2006, which pushes the index up by 160% from 2002. When analyzing the flow of goods between US and Chile, the US trade deficit with Chile rose by 92% in 2006 which used to be only a 28% increased deficit in 2005. The trade deficit is valued at $2.8 billion in 2006, which is a 136% rise from 2002.
Chilean Exports to United States
The USD $9.6 billion in Chilean Exports to US in 2006 were valued for merchandise as follows:
Copper US$4.1 billion (42.7% of Chilean to U.S. exports, up 144.7% from 2005), fruit and fruit products, $1.3 billion (14%, up 17.9%), Seafood $957 million (10%, up 26.1%) Ready molding, shingles and wallboard $622.1 million (6.5%, up 17.9%), commercial gold $372.8 million (3.9%, up 61.3%), timber and unprocessed wood $327.2 million (3.4%, up 18.3%), industrial inorganic chemicals199.5 million (2.1%, up 8%), unfinished steelmaking and iron alloying materials $191.2 million (2%, down 50.9%), wine and alcoholic products $170.4 million (1.8%, up 2.5%), and finally farming materials and livestock was valued at $135.4 million (1.4%, up 25%).
Over the years Chilean Imports have seen a drastic increase as the population expands and demand for high quality products spurs the economy. The country has managed to maintain a healthy balance by exporting its raw and processed materials to its economically vibrant neighbor the USA.