Weekly Report - 18 October 2005

CHILE | Leap in trade with US. Chile's exports to the US in the first eight months of the year reached US$3.8bn, or 48.6% more than in the same period of last year. An even greater increase of 78.5% was recorded in US exports to Chile, which totalled US$3.3bn - narrowing Chile's bilateral trade surplus to US$532m. Taken jointly bilateral trade has increased by 40.7%, a good advertisement for the free-trade agreement between the two countries even though it was not the only factor at work. The biggest single item in Chile's imports was refined oil products (amounting to US$836.5m), which might change in the wake of hurricane Katrina. In any case the expansion has confirmed the US in its position as Chile's number-one trading partner.

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