MercoPress. South Atlantic News Agency

US-Chilean trade booming, up 25% over January 2006

During January 2007 trade between Chile and Untied States reached 1.29 billion US dollars, up 26% from the same month in 2006, according to the latest report on bilateral trade from the Chilean-North American Chamber of Commerce. (AmCham).

Chilean exports to the US in January increased 40% compared to the same month a year ago, totaling 888 million US dollars. Although copper was a significant contributor the overall figure, excluding the percentage effect of these shipments, the exports rate of growth is 27%. Comparing January 2003 with January 2007, exports soared 105%. Imports to Chile from the US in January 2007 increased 2%, compared to January 2006, reaching 402 million US dollars. Refined lubricants excluded, which make a significant bulk, imports were up 18% over the same month a year ago. Overall January bilateral trade in January this year was up 26% and 112% over the same month in 2004 when the US-Chile free trade agreement became effective. Taking into account just Chilean exports, they jumped 40% and imports 2%, when comparing the first month of 2007 and January 2006. The US figured as Chile's main source of imports in January 2007 with 14.14% of the total, followed by Argentina, 13.67% and Brazil, 12.25%. As to exports, China became Chile's main partner in January 2007 with 15.85%, followed by the US, 15.10% and Japan, 8.45% Refined copper, including cathodes, is the number one item of Chilean exports to the US, representing 27.5% of the total, followed by grapes, 13.5% and salmon in third place equivalent to 8.4%. Chilean imports from the US were far more diversified with lubricant oils representing 7.16% of the total. This was followed by heavy equipment for mining and construction, 4.4%. Then come transport vehicles and trucks, 3.77% and finally computers and printers, 3.7%.