In 2022, the United States witnessed a surge in exports of goods and services to Chile, reaching $29.3 billion, reflecting a remarkable 28.6% increase compared to the previous year. Concurrently, imports from Chile also experienced growth, totaling $19.8 billion, marking an 11.1% rise from 2021. Consequently, the trade surplus with Chile expanded to $9.5 billion during the same period.
In addition, in terms of overall trade statistics, exports to Chile comprised 1% of the total U.S. exports in 2022, while imports from Chile represented 0.5% of the total U.S. imports. Besides, the primary commodities contributing to this trade were industrial supplies and materials, constituting 46% of U.S. exports to Chile and 39.3% of U.S. imports from Chile.
Turning our attention to the U.S. direct investment position with Chile, outward investments from the United States to Chile reached $29.2 billion in 2022, marking a 6.1% increase compared to the previous year. On the flip side, Chile’s inward investments in the United States amounted to $5.1 billion, reflecting a substantial 45.8% growth from 2021.
Moreover, when considering the activities of Multinational Enterprises (MNEs), in 2020, Chile-based majority-owned affiliates of U.S. MNEs employed 143.70 thousand people, experiencing a 6.0% decline from 2019, while their sales amounted to $33.0 billion, reflecting an 11.2% decrease.
Meanwhile, U.S.-based majority-owned affiliates of Chilean MNEs employed 8.40 thousand people in 2021, showing a modest decrease of 1.2% from the previous year, with sales totaling $5.9 billion, marking a notable 9.2% increase.
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