Doing Business in Chile

• GDP: US$164 billion (2007).
• Main exports: Copper, fruit, fish, paper and chemicals.
• Main imports: Petroleum, chemicals, vehicles, electrical and telecommunications equipment.
• Main trade partners: USA, Argentina, Brazil, Japan and China.

Economy

With well-developed industrial and service sectors, Chile has one of Latin America's strongest economies. However, it still depends on export of primary commodities (metals and ores, fruit, fish and wood) for a large proportion of its export earnings. With commodity prices dropping recently, harsher times look likely for the Chilean economy, in line with the straitened financial times across the world.


However, Chile's industrial base has grown substantially over the last decade and includes steel manufacturing, oil production, ship building, and the production of cement and consumer goods. The mainstay of the export economy is still metals and ores: Chile is the world's leading exporter of copper and also produces zinc, iron ore, molybdenum, manganese, iodine and lithium.


The service sector has developed rapidly, especially financial services. Chile's economic performance has been strong since 2000, although annual growth had dipped slightly in 2008 to 4.1% with a further drop expected in 2009; unemployment was estimated at 7% in late 2007.

Business Etiquette

Businesspeople usually wear formal clothes in dark colours for meetings and official functions. Best months for business visits are April to December.


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