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Chile – Important Facts

Chile officially the Republic of Chile is a South American country occupying a long, narrow strip of land between the Andes to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the north east, Argentina to the east, and the Drake Passage in the far south. Chile also claims about 1,250,000 square kilometres (480,000 sq mi) of Antarctica, although all claims are suspended under the Antarctic Treaty. Chile is today one of South America’s most stable and prosperous nations

Chile is a member of the Asia-Pacific Economic Cooperation (APEC) and the Trans – Pacific Partnership (TPP).

As the United States – Chile Free Trade Agreement (FTA) concludes its eleventh year, trade of products and services continues to be a resounding success, with an increase of over 330% in bilateral trade since implementation. As of January 1, 2004, duties were reduced to zero on 90% of U.S. exports to Chile, and in January 2015, all remaining tariffs were phased out, such that all U.S. origin products now enter Chile tariff free.

In 2014, bilateral trade between the United States and Chile reached US$26.0 billion, down slightly from levels in 2012 and 2013. Specifically, the U.S. enjoys a trade surplus with Chile, exporting US$16.6 billion to Chile in 2014, while imports to the U.S. from Chile totaled US$9.4 billion. Overall, the U.S. is Chile’s #2 trading partner after China. However, the United States has a broader and more dynamic trading relationship with Chile, exporting over 1,800 different categories of U.S. products (as compared with 500 categories from China).

Facts: Republic of Chile Capital: Santiago, Population: 17.4 million, Area: 756,096 sq km (291,930 sq miles), Major language: Spanish, Major religion: Christianity, Life expectancy: 76 years (men) and 82 years (women), Currency: Chilean peso.

Important Details

  • Country ISO3:CHL
  • Country Code:152
  • Income Group:Latin America & Caribbean
  • Lending Category:High income
  • Region:IBRD
  • Currency Unit:Chilean Peso
  • WTO Member:YES
  • Trade organisations:WTO, APEC, OECD, Mercosur (associate), CAN (associate), SACN
  • world rank:7
  • Regional Ranking:1st in the South and Central America/Caribbean Region