Chile Exporter Guide Annual 2009
Chile’s economy is driven by exports, concentrated in primary products and processed natural resources (principally copper, fresh fruit, forestry and fishery products). The international economic crisis that underwent in the second half of 2008 also affected the Chilean economy; a GDP of 4.78 in 2007 that went down to 3.2 in 2008 and has an estimated projection of around -0.75 to 0.25 for 2009 according to the Central Bank.
Despite of the seriousness of the international crisis, Chile has demonstrated to be well prepared to cope overcome the situation due to its solid fundamentals, in particular, its fiscal solvency. This factor continues to position Chile as a platform for regional investment.
Based on size, market growth rate, and the U.S. competitive position in the market, the following products have the greatest potential in Chile: ingredients for feed, processed meat, and processed foods/bakery industries (e.g. diary, soy, meat and poultry by-products, etc), seeds, high value wood products for the furniture industry and oak for wine barrels, as well as pet food and snack foods/high value processed foods. Competition from Mercosur suppliers remains fierce for meat, grains, soybean products and pet food, while domestic and European imports present the greatest challenge for U.S. processed foods.