For Immediate Release:April 6, 2006
Contact: Matt Englehart, Jennifer Scoggins (202) 482-3809
U.S. EXPORTS TO CHILE NEARLY DOUBLE SINCE 2004 FREE-TRADE AGREEMENT
Washington D.C. – The Commerce Department today reported that total bilateral trade between the United States and Chile rose 85 percent since the U.S.-Chile Free Trade Agreement (FTA) went into effect in January of 2004. The United States exported $5.2 billion in goods in 2005, a 91 percent increase over 2003.
“The free trade agreement between the United States and Chile is quickly producing very positive and measurable results for both the United States and Chile,” said U.S. Under Secretary for International Trade Frank Lavin. “After breaking down trade barriers from both nations, U.S. exports to Chile have nearly doubled in just two years, which is good news for our growing economy and U.S. workers.”
Highlights of the U.S.-Chile Bilateral Trade Analysis
- U.S. exports gained market share in Chile for a second year in a row, rising to 15.8 percent in 2005.
- With the FTA in effect, U.S. exports continued to win back market share that was lost in previous years to other countries that negotiated free trade agreements with Chile before the United States.
- Several U.S. goods showed impressive increases over pre-FTA levels, including:
- Automatic data processing machines – up 46 percent to $267.7 million
- Motor vehicles for the transport of goods – up 387 percent to $276.6 million
- Motor cars and vehicles for transporting persons – up 120 percent to $116.2 million
- Self propelled bulldozers, angledozers, graders, levelers, scrapers – up 132 percent to $117.7 million
- Tractors – up 196 percent to $41.4 million
The full text of the U.S.-Chile Bilateral Trade Analysis can be found at www.export.gov/fta.
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