From Chile to Singapore: Uniting Success, Igniting Growth!
Chile - Trade Market Trend
Chile and Singapore continue to forge a dynamic and fruitful trade partnership, showcasing an impressive exchange of goods and commodities. Let's delve into the fascinating trade figures and trends between these two nations in 2021 and beyond.
1. Chile's Exports to Singapore :
In 2021, Chile exported a total value of $83.3 million to Singapore, highlighting a diverse range of products. The leading items included:
?? Silver: Valued at $18 million
??? Refined Petroleum: Totalling $16.5 million
?? Fish Fillets: Reaching $8.82 million
2. Singapore's Exports to Chile :
Conversely, Singapore recorded significant exports to Chile in 2021, with a total value of $112 million. Key products included:
?? Gas Turbines: Valued at $22.9 million
??? Other Edible Preparations: Reaching $11.6 million
?? Packaged Medicaments: Totalling $9.81 million
Impressively, Singapore's exports to Chile have showcased an annualized growth rate of 1.61% over the last 26 years, ascending from $74 million in 1995 to $112 million in 2021.
3.?A Growing Partnership :
Both nations are committed to strengthening their bilateral trade relations, evident in the continuous growth in their trade volumes. Singapore's Economic Complexity Index (ECI) ranks at an impressive 6, while Chile stands strong at 74, reflecting its diverse economies and potential for expansion.
4.?Recent Trade Figures :
In April 2023, Chile exported goods valued at $3.39 million to Singapore and imported goods worth $11.4 million.
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5. Key Exports and Origins :
In April 2023, Chile's top exports to Singapore included:
?? Refined Petroleum: Valued at $47.6 million
?? Fish Fillets: Reaching $3.8 million
?? Wine: Totalling $916,000
6. The main destinations for Chile's exports in April 2023 were:
?? Renca: Valued at $771,000
?? Puerto Montt: Reaching $657,000
?? Vitacura: Totalling $555,000
7. The Power of Trade :
Chile and Singapore's trade relationship continues to flourish, with both nations capitalizing on each other's strengths to foster mutual growth and success. As they leverage their respective comparative advantages, the future holds promising opportunities for expanding and diversifying their bilateral trade.
Key summary :
Singapore companies are actively engaged in international trade, and their partnerships with various countries, including Chile, have proven to be successful and fruitful. In 2021, Singapore's exports to Chile reached a total value of $112 million, featuring a diverse range of products such as gas turbines, edible preparations, and packaged medicaments. Notably, Singapore's exports to Chile have experienced consistent growth, showing an annualized rate of 1.61% over the past 26 years.
On the other hand, Chile's exports to Singapore amounted to $83.3 million in 2021, with key products including silver, refined petroleum, and fish fillets. The partnership between these two nations remains strong and promising.
Chile and Singapore continue to explore new trade opportunities, and the economic complexity indices of both countries indicate their potential for expansion and diversification in the international market. As they leverage their respective strengths, the future holds exciting opportunities for Singapore companies to further enhance their global trade relationships and economic prosperity.
?? Let's continue to monitor this exciting trend and explore new avenues for a robust and vibrant trade partnership between Chile and Singapore!?
If you have any inquiries regarding LATAM and SBF@GlobalConnect, don't hesitate to contact Novia at [email protected] for a constructive discussion. Please note that the information provided is based on the writer's research and perspectives and does not necessarily represent the views of any specific entities. For a more comprehensive understanding, readers are encouraged to conduct further research independently.