Chile snapshot

Chile has a vast network of free trade agreements with other countries which have placed it in a privileged position as a leading world trader and a strategic business base in the region with its ease of access to third markets.

Among these are Free Trade Agreements (FTA) with Mexico, Canada, European Union, South Korea, United States, European Free Trade Association (EFTA); Bilateral Trade Agreements with MERCOSUR (formed by Argentina, Brazil, Paraguay, Uruguay and Venezuela), Bolivia, Colombia, Ecuador, Peru and Venezuela; FTA’s between Chile and Central America (Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua); China, India and Panama, as well as the P4 Agreement (between New Zealand, Chile, Singapore and Brunei) have been signed. Negotiations are underway with Japan and Thailand.

Once all FTA’s which are currently signed enter into force, Chile will have privileged and in many cases zero tariff market access to a market of almost 6.2 billion consumers around the world.  

Santiago was reported as the best city from which to do business in Latin America, published in the AméricaEconomía business magazine, May 2005.

Over 3,000 overseas companies from 60 countries have investments in Chile.

Since the implementation of the U.S.-Chile FTA in January 2004, bilateral trade has increased 85%.

Chile became the first country in the world to implement an electronic free-flow toll system allowing vehicles to use urban highways operated by more than one concession company.

In 2005, 96% of Chile’s tax returns were filed directly to the Internal Revenue Service via the Internet.

Preserving the environment has become a priority for economic development.

The state-owned firm CODELCO is the world’s largest copper-producing company with recorded copper reserves of 200 years.

The most important non-mineral exports are forestry and wood products, fresh fruit and processed food, fishmeal and seafood, and wine.

The food industry accounts for over 10% of the GDP, ranked 3rd highest in the world.

Chile is a top 5 world exporter of more than 10 agricultural products including grapes and blueberries (1st) and avocados, prunes and raspberries (each 2nd worldwide).

Chile ranks 5th in exports and 10th in pulp production worldwide.

The beef industry predicts a growth rate exceeding 550% to 2012

Cheese exports to US increased by 400% as a result of the Free Trade Agreement in 2004.

Chile is the 2nd-largest salmon producer in the world, with revenue of over US$1,439 million in 2004.

Annual exports of wine total US$835 million, placing Chile 5th on the world stage.

There are currently 95 biotech-related organizations in Chile.

One of the most widely known theories says that Chile derived its name from the indigenous Mapuche word chilli, which means “where the land ends” or “the deepest point of the Earth”… and it is only a coincidence that its physical appearance is very similar to that of a chili.

The current population exceeds 16 430 000; forty percent live in Santiago, the capital.

The currency is the Chilean Peso; a can of coca-cola costs 300 pesos.

The time zone is GMT -4, the same as that of New York.

The current president, Michelle Bachelet, is Chile’s first female chief of state.

Chile was the last country in the Americas to be occupied by the Spaniards.

Marcelo Rios became the first Latin American to reach the No. 1 position on the ATP singles rankings in 1998.

It is the longest country in the world from north to south, stretching over 4630 km, but its widest point measures only 430 km.

Chile is bordered by Peru on the north, Bolivia on the northeast, and Argentina on the east.

ACONCAGUA, located in the heart of the Argentine-Chilean Central Andes, at 6959m, is the highest mountain in the world outside the Himalayas.

Chile is home to the highest volcano in the world, Los Ojos del Salado, at 6893m.

The southernmost point of South America is Cape Horn, which belongs to Chile. Chile also claims sovereignty over 1,250,000 sq km of Antarctic territory; the Juan Fernández Islands, and Easter Island.

The Atacama Desert is the driest place on earth with some areas not having received rain for over 400 years.