REPORTING PROFORMA FOR INDIAN COMMERCIAL WINGS
1. Name of the Mission: CHILE
Name of the Officer reporting: MS. VIVIANA GARCIA
Contact No. of the Officer Reporting: 562-222286857
2. Report Type: Monthly
(Tick the appropriate)
3. Reporting Month : December, 2017
4. Trends in Bilateral Trade (in USD Million) from the latest available data
Period of data being reported in col. No. 4 (i) to 4 (vi):
From:1st Nov, 2017
To:30th Nov, 2017
(i) Bilateral Trade: (Source: Santiago Chamber of Commerce.)
Exports from Chile (FOB)(in USD
Million) / Imports by Chile (CIF)
(in USD
Million) / Total
(in USD
Million) / Growth % of export over same period in previous year / Growth % of import over same period in previous year
Country’s total global trade / 5767.20 / 5383.65 / 11150.85 / 17.89% / 14.33%
Country’s trade with India / 33.20 / 71.60 / 104.80 / -81.71% / 15.37%
India’s share in percentage (%) / 0.57% / 1.32% / 0.93% / --- / ---
(ii) Top 10 items of Exports to India: (Nov’2017)
S. No. / Commodity / Value (in USD Million)FOB Value / % Growth over same period in previous year / % Share in total export
HS Code / Description
1. / 26030000 / Copper ores and minerals / 12.33 / -92.44% / 37.13%
2. / 27011900 / Other coal, not agglomerated / 5.66 / 31.62% / 17.04%
3. / 26131010 / Molybdenum concentrate / 5.05 / 1342.85% / 15.21%
4. / 47032100 / Chemical wood pulp of coniferous / 3.80 / 46.15% / 11.44%
5. / 47032910 / Chemical wood pulp of eucalyptus / 1.22 / 71.83% / 3.67%
6. / 28012000 / Iodine / 0.94 / -73.81% / 2.83%
7. / 76020000 / Aluminium waste and scrap / 0.89 / 187.09% / 2.68%
8. / 72042100 / Waste and scrap of stainless steel / 0.42 / 2.43% / 1.26%
9. / 28369190 / Lithium carbonate / 0.32 / --- / 0.96%
10. / 72044900 / Other ferrous waste and scrap / 0.31 / -16.21% / 0.93%
(iii) Top ten items of exports to the world (Nov’2017)
S. No. / Commodity / Value (in USD Million)FOB Value / % Growth over same period in previous year / % Share in total export
1. (26030000) / Copper ores and minerals / 1401.54 / 36.80% / 24.30%
2. (74031100) / Copper cathodes / 1323.65 / 26.41% / 22.95%
3.- (74020013) / Copper anodes / 189.88 / --- / 3.29%
4.- (03031220) / Pacific Salmon / 109.46 / 42.89% / 1.89%
5.- (71081210) / Other unwrought forms of gold (mining) / 105.10 / --- / 1.82%
6.- (26131010) / Molybdenum concentrate / 100.51 / 114.90% / 1.74%
7.- (47032100) / Chemical wood pulp of coniferous / 90.52 / 13.54% / 1.56%
8.- (03044120) / Fresh Atlantic Salmons / 83.36 / 5.47% / 1.44%
9.- (74020019) / Other unrefined copper / 81.57 / --- / 1.41%
10.-(28369190) / Lithium carbonate / 74.07 / --- / 1.28%
(iv) Top ten items of imports from India: (Nov’2017)
S. No. / Commodity / Value (in USD Million)CIF Value / % Growth over same period in previous year / % Share in total import
HS Code / Description
1. / 87032291 / Motor cars exceeding 1000 cc / 16.91 / 12.73% / 23.61%
2. / 73051900 / Other longitudinally submerged arc welded / 3.13 / 286.41% / 4.37%
3. / 30049041 / Medicaments containing antiretrovirals / 2.45 / --- / 3.42%
4. / 85372090 / Other boards, panels, consoles, etc. for electric control / 2.03 / 48.17% / 2.83%
5. / 87042121 / Motor vehicles for transport of goods / 1.48 / 1.36% / 2.06%
6. / 87032391 / Motor cars exceeding 1500 cc, but less than 3000 cc. / 1.36 / -66.08% / 1.89%
7. / 87033291 / Motor cars exceeding 1500 cc. / 1.30 / 34.34% / 1.81%
8. / 87032191 / Motor cars not exceeding 1000 cc. / 1.29 / -64.16% / 1.80%
9. / 63026014 / Towels / 1.18 / 68.57% / 1.64%
10. / 87112010 / Motorcycles / 1.15 / 35.29% / 1.60%
(v) Top 10 items of imports from the world: (Nov’2017)
S. No. / Commodity / Value (in USD Million)CIF Value / % Growth over same period in previous year / % Share in total import
1. (27101940) / Gas oil, diesel oil / 270.89 / 94.98% / 5.03%
2. (87032391) / Motor cars / 178.06 / 33.37% / 3.30%
3. (85171200) / Mobile phones / 162.17 / -9.54% / 3.01%
4. (27090020) / Petrol oil / 159.58 / 18.88% / 2.96%
5. (27090010) / Petrol oil / 120.60 / 309.78% / 2.24%
6. (87032291) / Motor cars exceeding 1000 cc / 83.95 / 34.57% / 1.55%
7. (27101222) / Gasoline 93 octanes / 73.93 / 103.55% / 1.37%
8. (87042121) / Motor vehicles for transport of goods / 68.58 / 1.70% / 1.27%
9. (87033291) / Motor cars exceeding 1500 cc. / 61.99 / 54.43% / 1.15%
10. (27011220) / Coking coal for thermal use / 56.10 / -32.53% / 1.04%
(vi) Top 5 competitors of India’s top 5 exports:
S. No. / Commodity / Five competitors (Countries)1 / Motor cars exceeding 1000 cc / China
US$ 21.91 million / Mexico
US$ 12.22 million / South Korea
US$ 10.63 million / Japan
US$ 4.32 million / Germany
US$ 4.22 million
2. / Other longitudinally submerged arc welded / China
US$ 129,510 / Peru
US$ 32,718 / Taiwan
US$ 5,479 / --- / ---
3 / Medicaments containing antiretrovirals / --- / --- / --- / --- / ---
4 / Other boards, panels, consoles, etc. for electric control / Germany
US$ 615,956 / Spain
US$ 260,997 / Greece
US$ 68,971 / China
US$ 63,525 / Czech Republic
US$ 33,746
5 / Motor vehicles for transport of goods / Thailand
US$ 24.62 million / Argentina
US$ 14.23 million / South Korea
US$ 10.37 million / Mexico
US$ 9.09 million / China
US$ 5.22 million
(vii) Significant trends:
S. No. / Details of significant trends (Max. 100 words) / Analysis(max. 100 words)
1.
2.
3. / NIL
5. Important India related statements of commercial significance by political leaders, think tanks, chambers, associations etc. (Max. 200 words):
NIL6. Market Access
(i) Alerts on SPS/TBT notifications, import procedures, export restrictions put in place, change in trade policy:
S. No. / Notification No. and Date / Details (Max. 100 words) / Effective from (date dd/mm/yyyy)1 / G/TBT/N/CHL/424 dated 5th Dec’2017 / Proposed amendments to the Food Health Regulations aim to improve and establish minimum requirements for the traceability of food, and to ensure that these requirements are met along the food chain / Final date for comments: 60 days from date of notification
2 / G/TBT/N/CHL/425 dated 15th Dec’2017 / The notified Chilean Standard specifies the general properties and test methods for coatings applied by dipping fabricated iron and steel articles (including certain castings) in a zinc melt (containing not more than 2% of other metals). / Final date for comments: 60 days from date of notification
3 / G/TBT/N/CHL/426 dated 15th Dec’2017 / The notified Chilean standard establishes the requirements to be met by hot-dipped, zinc-coated steels to be used for concrete reinforcement. It establishes three classes of coatings – A, B and C – which differ in the mass of zinc per unit area contained in the coating. The standard applies to bars, wire, electrically welded mesh and all forms of ironwork which are used for concrete reinforcement. / Final date for comments: 60 days from date of notification
4 / G/TBT/N/CHL/427 dated 20th Dec’2017 / Amendment to Exempt Resolution NO. 2.796 of 2009 establishing conditions and requirements for authorizing entry into the country of hydrobiological resources and the products thereof, and the procedure for accrediting their lawful origin / Final date for comments: 60 days from date of notification
(ii) Alerts on Trade Defence Measures taken by respective country:
(Special safeguard, antidumping, CVD or Anti-Subsidy)
S. No. / Notification No. and Date / Details of the products/sector affected (Max. 100 words) / Effective from (date dd/mm/yyyy)1 / NIL / ---
(iii) Feedback from major Indian industries / other commercial concerns set-up in that country and Indian Trade visitors to that country:
S. No. / Name of business house / Activity Sector / Trade barrier issues (if any) (Max. 100 words) / General feedback (Max. 100 words)1 / NIL
(iv) Feedback from major trade fairs / BSM including Indian participation (whether or not supported by MAI funds):
S. No. / Particulars of Trade Fairs, dates (Max. 100 words) / Number of participants / List of large participants / Feedback received (Max. 100 words)NIL
(v) Feedback from local commercial visitors to trade fairs in India, including under BSM, number of visas issued:
S. No. / Particulars of trade fairs, dates (Max. 100 words) / Number of participants / List of large participants / Number o business visas issued / Feedback received (Max. 100 words)NIL
7. Investment:
(i) Information regarding upcoming major investment in India from respective country:
NIL8. Details of activities out of Trade Promotion budget:
BE for 2017-18(In Rs. Lakhs) / RE for 2017-18
(in Rs. Lakhs) / Amount utilized
(in Rs. Lakhs) / Details of activity
(Max. 100 words)
11 lakhs (Market Expansion Activities) / 865,998
9. Action taken on the previous JWGs, Joint Commission, sub-commission etc. (Issues that Mission had to follow up with host Government)
S. No. / Details of JWG/JEC / Action Point / Action Taken(Max. 100 words)
1 / NIL / 1
2
3
4
10. Trade queries for Imports / Exports
S. No. / Enquiry originator / Product / Nature(i) Import
(ii) Export / Action taken
(Max. 100 words)
1 / LIST ENCLOSED
11. Any other issue of importance (Max. 200 words).
SEMINAR ORGANIZED BY INDO-CHILEAN CHAMBER OF COMMERCE
A Seminar on “How to Do Business with India today and Projections for the 21st Century” was organized by the Indo-Chilean Chamber of Commerce on 1st December, 2017.
The Seminar was opened by Mr. Manuel Jose Prieto, Director International of the Industrial Development Society (SOFOFA), and Ambassador of India to Chile, Ms. Anita Nayar, who delivered the Welcome Speech.
The main Speaker of the Seminar was Mr. Sergio Laiz-Suarez, Businessmen and Honorary Consul General of India to Argentina, who made a presentation on “The Weight of India’s Economy in today’s world, India’s Technological Revolution, and its Projections for the 21st Century. Reflection: What is the Best way to Do Business in India
Presentations were also made by Mr. Pablo Urria, Director of Bilateral Economic Affairs, DIRECON, Ministry of Foreign Affairs on Chile-India PTA and Trade/Investment Opportunities; and Mr. German Ilabaca, Director of Indo-Chilean Chamber of Commerce on the Legal Aspects of Indo-Chilean Trade.
The Seminar concluded with a Practical Case: Experience in the Export of Walnuts to India by Mr. Cristobal Socias, Director (Sales & Marketing), M/s Exportadora La Invernada, and a round of questions and answers.
The Seminar was attended by a large number of Businessmen, Academicians, Representatives of Trade Associations and Chambers of Commerce, and Friends of India.
GDP
Economic activity rose 3.2% in November on an annual basis according to the Monthly Indicator for Economic Activity (IMACEC) published by Chile’s Central Bank, up from October’s 2.9% and markedly overshooting analysts’ expectations of a 2.4% uptick.
In contrast to previous months, growth was driven by the non-mining sector, which rose a robust 3.2% thanks to the manufacturing, services and trade sectors. Mining sector growth slowed compared to the prior month, from 11.1% in October to 2.9% in November on tougher prior-year comparatives. Economic activity rose 0.7% in November from a month earlier in seasonally adjusted terms, contrasting October’s 0.2% decline.
The Central Bank sees GDP expanding between 2.5% and 3.5% in 2018
TOTAL TRADE
Chile’s balance of trade grew by US$ 1057 million in December 2017 as a result of exports for US$ 6752 million (FOB) and imports for US$ 5695 million (FOB). Balance of Trade in Chile is reported by the Banco Central de Chile.
Exports FOB from Jan to Dec’2017 totaled US$ 68306 million and imports FOB over the same period totaled US$ 61399 million. The balance of trade for the Jan-Dec term totaled US$ 6908 million.
RATE OF INFLATION
Consumer prices rose 0.1% in December compared to the prior month, matching November’s figure and marginally undershooting analysts’ expectations. According to the National Statistical Institute (INE), December’s rise was underpinned by higher prices for transport, while lower food and non-alcoholic drinks prices subtracted from the overall figure.
Inflation came in at 2.3% in December, up from 1.9% in November and thus moving back into the Central Bank’s 2.0%-4.0% tolerance range following six months of below-target readings. After stripping out volatile categories, core consumer prices rose 0.1% month-on-month in December, contrasting November’s 0.1% dip, while core inflation rose from 1.8% in November to 1.9% in December. The rise in inflation since September is likely to reduce pressure on the Central Bank to reduce rates in the near term.
The Central Bank predicts year-end inflation of 2.9% in 2018.