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Chilean service exports grow 14 percent in first half of 2018

Staff Writer |
Chilean service exports grew 14 percent during the first half of the year compared to the same period in 2017, reaching 559 billion U.S. dollars, the country's ministry of foreign affairs reported.

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Exports of information technology and communication made up 27 percent of the total with 150 billion dollars, a 9 percent increase over the same period last year, according to the study of the ministry's General Directorate of International Economic Relations (Direcon) and ProChile using data from the National Customs Service.

Direcon director Rodrigo Yanez said the leap in service exports is in part the result of collaboration between the public and private sectors that are "committed to consolidating opportunities in international markets."

The biggest increase belonged to the financial service sector which grew 44 percent, reaching 66 billion dollars, according to the ministry's report.

The ministry said that the service and creative industry sectors have become areas "that each day have become more relevant to Chile's export."

According to official statistics, in the past 15 years, shipments of non-traditional services have grown at an average of 13 percent per year in Chile.

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