Embassy of India Santiago. Monthly Commercial and Economic Report for October, 2009

Transcription

1 Embassy of India Santiago No. Sant/245/2/2008 December, 2009 i) GDP Monthly Commercial and Economic Report for October, 2009 The IMACEC the Central Bank s Monthly Indicator of Economic Activity -, dropped 0.9% in October, 2009, far from the 0.2% drop predicted by the market. GDP contracted 2.7% during the Jan-Oct period. The reverse factors drops in industry output and one less working day in October, 2009 helped to explain the indicator s sharp drop in October, Despite a rapid fiscal and monetary response to the international crisis, the Chilean economy contracted by 1.6% in the third quarter of 2009 as compared to the same period last year. This followed a year-on-year contraction of 2.4% in the first quarter and 4.7% in the second quarter. ii) Rate of inflation Chile's consumer price index was flat (0%) in October, in line with market expectations, as lower transport and gas costs offset a rise in fruit and vegetable prices. Chile's Central Bank has forecast a 0.8 percent decline in prices for 2009 and inflation of 2.8 percent for 2010 as economic growth returns after the ravages of global financial crisis. iii) Total trade Chile recorded a trade surplus of US$ million in October, 2009, as a result of exports worth US$ million and imports for US$ million. To October, exports reached US$ 42.6 billion and imports totaled US$ 31.9 billion. This gave a trade surplus of US$ 10.6 billion as compared to US$ 8.7 billion in the first ten months of last year

2 iv) Total trade in million US$ and its growth to 10 major countries Oct 2009 Country Oct 09 Oct 08 % of variation China % USA % South Korea % Argentina % Japan % Brazil % Mexico % India % Peru % Italy % Total trade Oct % Source: National Customs Office v) Indo-Chilean bilateral trade (Oct 09 as compared to Oct 08): Exports to Chile Oct 09 Exports to Chile Oct 08 Imports from Chile Oct 09 Imports from Chile Oct 08 = US$ million (CIF) = US$ million (CIF) = US$ million (FOB) = US$ million (FOB) Source: Santiago Chamber of Commerce - 3 -

3 vi) Top ten items of export from India to Chile, Oct 09 Item CIF value in US Dollars Share in total exports to Chile Sulphuric Acid ( ) 4.75 million 12.76% Cobalt sulphate ( ) 4.08 million 10.97% Motor cars not exceeding 1000 cc ( ) 2.29 million 6.15% Motor cars ( ) 2.20 million 5.92% Motor cars exceeding 1000 cc ( ) 1.93 million 5.19% Industrial leather gloves ( ) 1.67 million 4.50% Polypropylene ( ) 1.10 million 2.98% Ferro-chromium carbon ( ) 1.01 million 2.73% Single yarn, solely of cotton and polyester staple fibres, ( ) 0.69 million 1.88% Medicaments put up for retail sale ( ) 0.67 million 1.81% vii) Top ten items of import from Chile by India, Oct 09 Item FOB Value in US Dollars Share in total imports Copper ores and concentrates ( ) million 94.56% Molybdenum concentrate ( ) 3.09 million 2.48% Iodine ( ) 1.19 million 0.96% Newsprint in rolls ( ) 0.45 million 0.36% Chemical wood pulp of coniferous ( ) 0.37 million 0.30% Scrap of stainless steel ( ) 0.32 million 0.26% Lithium oxide and hydroxide ( ) 0.23 million 0.19% Potassium nitrate ( ) 0.20 million 0.16% Iron and steel scrap ( ) 0.12 million 0.10% Other vegetable seeds ( ) 0.11 million 0.09% Source: Santiago Chamber of Commerce - 4 -

4 viii) The principal five export destinations The main destinations of Chile s exports during Oct 2009 were: 1. China US$ million 2. USA US$ million 3. South Korea US$ million 4. Japan US$ million 5. Brazil US$ million i x) The principal five import sources The main sources of Chile s imports during Oct 2009 were: 1. USA US$ million 2. China US$ million 3. Argentina US$ million 4. Brazil US$ million 5. South Korea US$ million x) The principal five export commodities (Oct 2009): 1. Copper cathodes, HS code : US$ million 2. Copper ores, HS code : US$ million 3. Blister copper, HS code : US$ million 4. Molybdenum concentrates, HS code : US$ million 5. Chemical wood pulp of coniferous, H.S. code : US$ million xi) The principal five import items (Oct, 2009): 1. Petrol oil, HS code : US$ million Petrol oil, HS code : US$ million 2. Gas oil, diesel oil, HS code : US$ million 3. Cell phones, HS code : US$ million 4. Motor cars, HS code : US$ million 5. Molybdenum concentrates, unroasted HS code : US$ million - 5 -

5 xii) Other important economic news: a) Chile s gross external debt accounts for 51.7% of GDP up to October, 2009 against 34.1% in 2007 and 38.1% in b) In October, the three-month rolling average national unemployment rate rose to 9.7%, representing an increase of 2.2% in the last 12 months. c) Chile s Outbound Investment grew by US$ 1.6 million to US$ 17,295.5 million from January to October, d) The 2009 UNDP Human Development Index Report ranked Chile 44 th among 182 countries. The HDI report provides a composite measure of three dimensions of human development: living a long and healthy life (measured by life expectancy), being educated (measured by adult literacy and gross enrolment in education) and having a decent standard of living (measured by purchasing power parity, PPP, income). Between 1980 and 2009 Chile's HDI rose by 0.59% annually from to today, being classified under the category of country with high human development. Chile is the number two country in terms of human development in Latin America and Caribbean after Barbados. xiii) Indo-Chilean bilateral relations Latest Developments a) International Non Violence Day and Birth of Mahatma Gandhi were celebrated at Plaza de la India on 2nd October, Homage was paid by Ambassador Pradeep Kapur, Municipal Authorities and UN Representative at the statue of Mahatma Gandhi, followed by speeches and prayers said by various religious leaders. b) Dr. (Mrs.) R. Sarada, Scientist of the Central Food Technological Research Institute attended an International Conference on Biofuel of Algae at Antofagasta, Chile from October 7-10, c) Chilean journalist Natalia Neira from Santiago Times and Mr. Alejandra Serrano, Director of La Moneda Cultural Centre, Chilean Ministry of Culture attended the 28 th Indian Handicrafts and Gift Fair (Autumn) 2009 which was held from 10 th to 13 th October, 2009 at India Expo Centre & Mart, Greater Noida. d) Mr. David Lean, Manager (Com) of M/s Masprot S.C. e I. Ltda and Mr. Juan Antonio Galdames, Manager of M/s Importadora y Exportadora Galdames Bustamante participated in Delhi International Leather Fair (DILF 2009) being organized by Council for Leather Exports from 23 rd -25 th October,

6 e) Prof. M.S. Swaminathan, a world renowned plant geneticist, also known as the Father of the Green Revolution in India, visited Chile from October, 2009 at the invitation of President of the Republic of Chile. Prof. Swaminathan met President of Chile, Dr. Michelle Bachelet and the Chilean Minister of Agriculture and participated in various Seminars/Conferences which included a Conference at La Moneda Presidential Palace, a Seminar on Information Technologies and Competitiveness, a Conference about ICT and its aplication in rural communities, and a Seminar organized by the UN World Food Programme. He participated in a conference at UN-ECLAC, visited the Faculty of Biological Sciences of Catholic University of Chile and addressed students and scholars at University of Chile. Talca University honoured Dr. M.S. Swaminathan with degree of Dr. Honoris Causa. f) National Thermal Power Corporation Limited participated in a bid for thermal energy management. Offer submitted by NTPC Ltd was handed over on 30 th October, 2009 at the offices of M/s Colbun, Chile. (Bhagwat Swarup) Second Secretary (Com) & HOC

7 TRADE QUERIES RECEIVED IN OCTOBER, 2009 Items Ms. Mariela Canas L. General Manager M/s MCL INTERNATIONAL AGENCY Ms. Isabel Pacheco Product Manager M/s Comercial Fe Grande Ltda. Mr. Ramon Fuenzalida M/s Essel S.A. San Francisco 144 Santiago, Chile Tel: ramon@esell.cl Website: Mr. Roberto Gisbert Manager M/s Socoin SRL robertogisbert@hotmail.com Ms. Tatiana Silva Innovation & New Business M/s Oxiquim S.A. Tel: tatiana.silva@oxiquim.cl Mr. Jorge Molina Osorio Santiago, Chile Tel: jorgemolina@tie.cl Ms. Paula Garcia Huidobro Santiago, Chile paulaghuidobro@yahoo.com Mr. Francisco Jarque Deputy Manager (Supplies) M/s Fastpack Piping products Tel: f.jarque@fastpack.cl Latex gloves Cotton yarn Monofilament fishing lines Industrial plants for treatment, exploitation, storage and distribution Of liquified petroleum gas (LPG) or Natural gas. Industrial enzymes, biotechnology, functional foods, food additives, Animal feed products Herbal tea and food supplements Antique replica furnitures Pipes, fittings and flanges, valves (industrial)

8 Ms. Viviana M/s DND CHILE Garments