singapore

The Indonesian Chilean Chamber of Commerce and Culture reports that Chilean exports achieved a historic monthly record in January 2025, exceeding US$10,000 million according to the Subsecretariat of International Economic Relations. This comes as a significant milestone amidst several challenges faced by the export sector.

However, this achievement has been overshadowed by concerns within the agricultural sector due to a cut of $4,200 million to the Agricultural and Livestock Service (SAG) as announced by the Budget Office (Dipres). The National Society of Agriculture has expressed concern about the potential impact on the safety and quality of exports.

Further issues arose with a ship carrying 1,300 containers of cherries stranded in the Pacific Ocean, which may result in substantial losses. The Agroexport Council is currently evaluating the consequences of this incident.

On a positive note, the stranded cherries have reached China, and the containers will be inspected to verify the fruit's condition, confirmed Minister Valenzuela. The Office of Agricultural Studies and Policies (Odepa) is closely monitoring the situation.

Despite these challenges, Chile's export sector has shown resilience. While exports decreased by 15% in December 2024, largely due to a drop in the industrial sector, this was offset by a 33% increase in shipments to countries in the Asia-Pacific Economic Cooperation Forum.

Furthermore, the service sector achieved a historic record in 2024, with exports totaling US$ 2.472 billion, a 14.8% increase from 2023. The United States, Peru, and Colombia were the top three markets for these sales, indicating the sector's adaptability amidst the pandemic and digitalization trends.

Finally, the Senate unanimously approved the Free Trade Agreement between the Pacific Alliance and Singapore, aiming to improve access conditions to Singapore and increase exports, which had decreased by 54% between 2022 and 2023.

Despite a slight 0.2% decrease in salmon exports in November 2024, the sector saw a significant 11.4% growth in December 2024, reaching MMUS$535.1. South Korea and Japan were the most influential destinations for this increase.

• Exportaciones baten récord histórico durante enero mientras existe una alerta por recorte al SAG | radiograma-biobiotv | BioBioChile Televisión (Biobiochile.cl)
• Cerezas chilenas varadas en altamar llegan a China: Ministro Valenzuela confirma que se inspeccionarán los contenedores para verificar el estado de la fruta - ODEPA | Oficina de Estudios y Políticas Agrarias (Odepa.gob.cl)
• Exportaciones bajaron un 15% en diciembre | La Prensa Austral (Laprensaaustral.cl)
• Estados Unidos, Perú y Colombia se posicionan como los principales destinos de las exportaciones de servicios chilenas | Diario Financiero (Df.cl)
• Senado da su aprobación al TLC entre la Alianza del Pacífico y Singapur | Senado República de Chile (Senado.cl)
• Los Lagos: Exportaciones de salmón chileno crecen un 11,4% en diciembre de 2024 (Aqua.cl)

The Chilean-Indonesian Chamber of Commerce brings to light the key events shaping the economic landscape of Chile. This week's focus is on agricultural threats, cherry exports, and the signing of a significant trade agreement.

Agricultural Threats: The beginning of 2025 saw a potential threat to Chile's agricultural sector. A group of Argentine tourists, attempting to enter Chile, were found carrying fresh vegetables infested with fruit fly larvae, a dangerous pest that threatens the country's crops. The Agricultural and Livestock Service (SAG) seized and analyzed the vegetables, confirming the presence of the pest. The SAG had previously launched a nationwide campaign to eradicate the fruit fly, releasing sterile insects to reduce reproduction and imposing a fruit quarantine around detected outbreaks.

Cherry Exports: The cherry industry in O'Higgins is looking to the Chinese New Year to help reverse a decline in prices. Despite an expected increase of 50.5% in exports for the 2024-2025 season, the market has faced significant price drops in China, which receives 92.4% of the exports. The Pacific South Terminal in Valparaíso reported an increase of 66% in the total tons of cherries moved during the 2024-2025 season, compared to the previous one.

However, not all export news was positive. The Atacama Region experienced a 4.5% year-on-year decrease in exports in November 2024, according to a report from the National Institute of Statistics (INE). The mining sector, which primarily exports copper and iron, was most affected by this decline.

Trade Agreement: Chile is on the verge of signing a trade agreement with Singapore, the third strongest economy in Southeast Asia. The Chilean Chamber of Deputies approved the Free Trade Agreement signed between the Pacific Alliance countries and Singapore. This agreement is expected to bring significant benefits to the Alliance and Chile, promoting trade, technology and knowledge transfer, foreign investment, export diversification, and the generation of productive chains.

The Office of Agricultural Studies and Policies (Odepa) reported that the agricultural trade balance grew by 27% in 2024, reaching US$ 11.756 billion. This growth is attributed to the significant demand for Chile's product offerings in international markets, as well as the country's favorable phytosanitary conditions.

• Picudo rojo, mosca de la fruta y gripe aviar: Plagas amenazan con llegar a Chile por los viajeros (Eldesconcierto.cl)
• Empresas exportadoras de cerezas en O'Higgins miran al Año Nuevo chino para revertir caída de precios (Eltipografo.cl)
• EN NOVIEMBRE DE 2024, LAS EXPORTACIONES DE LA REGIÓN DE ATACAMA DISMINUYERON 4,5% INTERANUALMENTE – Tierramarillano – Noticias de Atacama y Chile (Tierramarillano.cl)
• Odepa: Balanza comercial silvoagropecuaria creció 27% en 2024 – Simfruit (Simfruit.cl)
• Terminal Pacífico Sur de Valparaíso finalizó temporada de exportaciones de cerezas 2024-2025 – Simfruit (Simfruit.cl)
• Chile ad portas de firmar acuerdo con Singapur, la tercera economía más fuerte del sudeste asiático (Eldesconcierto.cl)