Chile-U.S. bilateral trade: growth at a steady pace

Bilateral trade between the United States and Chile continues to grow at a very impressive pace. According to Chilean Customs, U.S. exports to Chile in the first semester of 2005 grew 62.8 percent, compared with the same period of 2004. U.S. exports totaled $2,469 million in the first semester of this year.

U.S. imports from Chile, on the other hand, grew 33.5 percent in the same period, equivalent to $2,916 million. Overall bilateral trade grew 45.5 percent, accounting for $ 5,835 million.

The steady growth of bilateral trade confirms two central arguments used to promote the Chile-U.S. Free Trade Agreement’s passage: trade is growing both ways; and the fast growth of U.S. exports has allowed American companies to begin recovering their share of Chile’s import market, which had been lost to other trade partners with whom Chile had established earlier free trade agreements.