HONG KONG - CHILE TRADE RELATIONS
CHILE AND HONG KONG ARE IMPORTANT TRADING PARTNERS
- In 2022, Chile was Hong Kong's 3rd largest trading partner in Latin America and 31st worldwide. Hong Kong was Chile's 63rd largest trading partner in 2022.
- In 2022, bilateral merchandise trade between Chile and Hong Kong decreased by 15.8% from 2021, amounted to HK$17,578.4 million. The average annual growth rate from 2018 to 2022 was 4.5%.
- Hong Kong imported HK$12,608.2 million worth of goods from Chile in 2022. Major imports included vegetables and fruit; fish, crustaceans, molluscs and aquatic invertebrates; and beverages.
- In 2022, Hong Kong's domestic exports of goods to Chile amounted to HK$6.1 million. Major domestic exports to Chile included plastics in non-primary forms; jewellery, goldsmiths' and silversmiths' wares, and other articles of precious or semi-precious materials; and miscellaneous edible products and preparations.
- Hong Kong's re-exports of goods to Chile totalled HK$4,964.1 million in 2022. Major re-exports were telecommunications equipment; office machines and automatic data processing machines; and apparel and clothing accessories.
HONG KONG IS AN IMPORTANT ENTREPÔT FOR SINO-CHILE TRADE
- Hong Kong is an important entrepôt for merchandise trade between Chile and Mainland China. In 2022, about HK$16,721.2 million, representing around 3.2% of the total trade between Chile and Mainland China, was routed through Hong Kong.
HONG KONG IS AN IMPORTANT LOCATION FOR CHILEAN INTERESTS
- Hong Kong is a separate customs territory and participates in the World Trade Organization as a full and separate member, using the name "Hong Kong, China".
- Hong Kong welcomes overseas investment and offers an environment in which there is a free flow of capital and return on investment without exchange controls.
- As at 1 June 2022, there were fewer than 5 regional offices and fewer than 5 local offices in Hong Kong with parent companies located in Chile.
- Hong Kong and Chile signed a bilateral Free Trade Agreement (FTA) in September 2012 and the FTA entered into force on 9 October 2014. The Agreement, encompassing trade in goods and services, investment, and other trade-related areas, strengthens trade and investment ties between the two economies.
- Hong Kong and Chile signed an exchange of notes on 18 January 2022 to confirm the updated commitments of both sides on trade in services under the FTA. The updated commitments entered into force on 6 April 2023.
- Building on the FTA, Hong Kong and Chile signed an Investment Agreement in November 2016 which entered into force on 14 July 2019. The Investment Agreement gives additional assurance to investors, facilitates investment flows, and complements the FTA in strengthening the economic and trade ties between the two places.
| Summary of Hong Kong's Trade with Chile (in HK$ million) | ||||
|---|---|---|---|---|
| 2021 | % change 2021/2020 |
2022 | % change 2022/2021 |
|
| Domestic Exports | 6.9 | +15.6 | 6.1 | -12.1 |
| Re-exports | 6,049.6 | +45.5 | 4,964.1 | -17.9 |
| Total Exports | 6,056.6 | +45.5 | 4,970.2 | -17.9 |
| Imports | 14,813.5 | +46.8 | 12,608.2 | -14.9 |
| Total Trade | 20,870.1 | +46.4 | 17,578.4 | -15.8 |
Prepared by:
Trade and Industry Department
The Government of the Hong Kong
Special Administrative Region
Trade and Industry Tower,
3 Concorde Road, Kowloon City,
Hong Kong
Telephone: (852) 2398 5405
Website: www.tid.gov.hk
July 2023
Note: While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same.