Chile has strengthened its exports to China, reaching a new sales record, with a year-on-year growth of 12.3% between January and September of this year, reaching 6,626 million dollars.
The official figures published by the state organization ProChile indicates that the boost in sales from Chile to China is growing in food products and other minerals, not including lithium and copper, of which it is a major world producer.
“These positive figures are known at the beginning of the eighth version of ChileWeek China, the most important annual promotional activity that our country carries out in that market,” announced the government entity that this week brings together exporters, investors and Chinese buyers. President Gabriel Boric also makes an official visit to China within the framework of this commercial activity.
The report also highlights the accumulation of other products that the Chilean market sends to its Asian trading partner, such as sulfates (copper, aluminum, nickel and others), with a cumulative total of 635 million, with an increase of 272.6% , that of iodine, with shipments of 302 million, registering an increase of 59.4%, molybdenum 204 million, 41.7% million; iron 914 million, 4.3% more”, compiles the institution.
Chile has China as its main trading partner in a relationship forged over 53 years of relations and believes that the Asian power “continues to be the leading market” for many of its products. Only in shipments of fresh fruits, sales recorded from January to September amount to about 1,729 million dollars.
However, Chile continues to lag behind in its trade with China; In 2022, Chile exported about $38,447 million to the Asian country, but China sold more to Chile than it bought by about $2,858 million, which marked a trade deficit for the South American country, according to official data.
The Asian power is the destination of 39.4% of Chilean exports and its main buyer of lithium, copper, wines and cherries, among other food products.
The World Bank does not predict a good performance of the Chilean economy this year and foresees moderate growth after a pronounced general decline for economies of the region 2024.
“Real GDP is expected to contract by 0.4% in 2023 and return to a trend growth rate of 2% in the medium term. “Poverty is expected to increase by 0.4 percentage points, reaching 5.2% in 2023,” among other domestic problems, as predicted by the Washington-based multilateral.