China replaces U.S. as Chile’s biggest export destination

by Hongwei Shang on January 25, 2008

in News

16:41, January 23, 2008

China replaced the United States in 2007 as Chile’s biggest export destination, according to statistics released Tuesday by Chile’s customs authorities.

The figures show Chile’s export volume recorded a 14.7-percent rise in 2007, totaling 65.484 billion U.S. dollars, while exports to China reached 10.172 billion dollars, accounting for 15.5 percent of the total and making China its biggest export destination.

Meanwhile, China also became Chile’s second biggest import source country, following just behind the United States after surpassing Argentina and Brazil, the statistics show.

Chilean entrepreneurs attribute the rapid growth of Chile-China trade to the free trade agreement with China which came into effect in 2006.

Cristian Garcia Lorca, chair of the Chile-China Trade Association, said there is still room for a further increase despite the rapid growth, and that Chilean businesses should make collective efforts to diversify the country’s exports to China.

Source:Xinhua

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