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Chile

Chile

The EU and Chile concluded an Association Agreement in 2002, which included a comprehensive Free Trade Agreement that entered into force in February 2003.

The EU-Chile Free Trade Agreement is broad and comprehensive and covers all the areas of EU-Chile trade relations.

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Trade picture

  • The EU is Chile's second trade partner, comprising 14.9% of Chile's total trade in 2016. Bilateral trade in almost all import categories has been very stable over the 2013-2016 timeframe, with the EU registering a slight trade surplus €1.2bn in 2016.
  • The EU is Chile's second import supplier, after China, and is Chile's third largest export market, after China and the US.
  • In 2016, EU imports from Chile were dominated by food and live animals (28%), crude materials except fuels (27.2%) (mainly copper), and manufactured goods (24.3%).
  • EU exports to Chile were overwhelmingly composed of machinery and transport (53.6%), followed by chemical products (14.5%) and manufactured goods (11.7%) (2016).
  • Between 2013 and 2015, total trade in services increased progressively from €4.7bn in 2013 to €5,8bn in 2015.
  • The EU is Chile's biggest foreign investor, accounting for 42,4 €bn of FDI stocks in the country.

EU-Chile: Trade in goods

Trade in goods 2014-2016, € billions
Year EU imports EU exports Balance
2014 8.6 7.4 -1.2
2015 8.2 8.3 0.1
2016 7.4 8.6 1.2

EU-Chile: Trade in services

Trade in services 2013-2015, € billions
Year EU imports EU exports Balance
2013 1.6 3.1 1.5
2014 1.7 3.4 1.6
2015 2.0 3.8 1.8

EU-Chile: Foreign direct investment

Foreign direct investment 2015, € billions
Year Inward stocks Outward stocks Balance
2015 0.3 42.4 42.1

Date of retrieval: 15/02/2017

More statistics on Chile

EU and Chile

The trade pillar of the EU-Chile Association Agreement entered into force in February 2003. It includes a comprehensive FTA pillar that has led to a significant increase in trade in goods and services between the EU and Chile. In 2015 bilateral trade in goods had more than doubled, from the initial € 7.7 billion in 2003 to € 15.9 billion in 2016.

An Association Committee and Special Committees were created within the framework of the EU-Chile Association Agreement. The Association Committee and related Special Committees meet once a year to review the implementation of the FTA and address all relevant FTA-related issues.

The EU and Chile are currently examining the possibility to modernize the existing FTA pillar, so as to ensure that it addresses all relevant aspects of the trade and investment relationship between the EU and Chile.

Trading with Chile