The increase in sales to China is an increasingly powerful fact that marks an increasingly broad trend. China and Chile signed a free trade agreement in November 2005, and shipments to China, excluding copper, grew 148% to US $ 4,300 million between 2008 and 2016.
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While the Trump administration expresses growing concern over China’s economic ties with Latin America, Chile’s wine industry is demonstrating how difficult it will be to stop the Asian giant’s march.
China became the largest market for Chilean wine in 2016, surpassing the United States, before extending that leadership last year. Now he is buying in the industry. Jiangsu Yanghe Distillery Co. Ltd. It is acquiring interests in properties of different Chilean vineyards. As there is significant trade between Chile and China in products related to agriculture, the trend of Chinese companies that buy shares in Chilean companies will continue.
Sales of Chilean wine to China increased 34% in the first 11 months of 2017 compared to the same period of the previous year, while sales to the US dropped 4.1%.
Meanwhile, Chilean imports from the US UU they were reduced by almost half to US $ 9,500 million in 2016, from US $ 17,600 million in 2012. Shipments from China in the same period remained unchanged at US $ 13,500 million.
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