China replaces US as Chile's biggest export destination

China replaced the United States as Chile's biggest export destination in 2007, citing statistics of Chile's customs authority.

Statistics show total export value of Chile rose 14.7 per cent to US$65.484 billion, and exports to China came to $10.172 billion, accounting for 15.5 per cent of the total, the report said. Meanwhile, China also surpassed Argentina and Brazil to become Chile's second biggest import source after the US.Entrepreneurs in Chile attribute the rapid growth of Chile-China trade to the bilateral free trade agreement which came into effect in 2006.Cristian Garcia Lorca, chairman of the Chile-China Trade Association, said there is still room for an increase despite the rapid growth, and that Chile should make collective efforts to diversify the country's exports to China.

Read More