The table below shows the balance of trade between the UK and Chile for 2020. It highlights the importance of the services exports to Chile, and the important flow of trade between the two nations.
Future growth will depend on trends in the mining sector and the commodity prices for copper and lithium, both important drivers of Chile’s international trade. A new opportunity for Chile to reduce its dependence on mining is the rapidly growing focus on Green Hydrogen, where Chile is well placed to capitalise on its almost infinite access to renewable energy.
Although the UK has been trading with Chile for over 200 years, the current situation leaves the UK in 19th position (see Chile Imports by Country) and with a huge opportunity to compete with current incumbents. The sectors currently viewed as the most interesting for UK companies are:
We have provided sector reports for each of these industries for you.
However, the Union Jack sells well in Chile, and there are many UK companies already selling well in the retail and food and drink sectors, particularly at the luxury brand level.
