Chile Retail Foods
In 2021, Chile maintained its position as the top market for U.S. consumer-oriented products in South America, followed by Colombia and Peru.
Chile Retail Foods
Report Highlights
In 2021, Chile maintained its position as the top market for U.S. consumer-oriented products in South America, followed by Colombia and Peru. The United States held 14 percent of Chilean market share of consumer-oriented products, shipping $886.4 million. Retail food sales reached $25.6 billion in 2021, a 7.6 percent increase over 2020. Supermarket food sales totaled $14.4 billion and represented 56.3 percent of total retail food sales in 2021. In 2021, with fewer COVID-19 restrictions and a successful vaccination campaign, GDP grew by 11.8 percent, pushing consumer spending. For 2022, the Chilean Central Bank projects a 1.5 percent GDP growth and retail food sales are projected to increase by 2.3 percent per year.
Chile the largest market in South America for U.S. consumer-oriented agricultural products with $886 million worth of export sales in 2021.
Executive Summary
Chile is a South American country that borders the South Pacific Ocean, Argentina, Bolivia, and Peru. Chile is divided into 16 administrative regions and the Metropolitana region, where Santiago is located, is the most densely populated one with 8.3 million of the 19.8 million people. In 2021, after a successful COVID-19 vaccination program and relaxation of associated pandemic restrictions, the Chilean economy bounced back. Chile’s Gross Domestic Product (GDP) in current prices totaled $301 billion, a 11.8 percent increase over 2020. For 2022, the Chilean Central Bank estimates a slow-down in the economy and projects a 1.5 percent GDP growth. GDP per capita reached $25,110 PPP in 2020 (World Bank), giving Chile the highest per capita GDP in Latin America. In 2021, the agriculture and related sector represented 24.4 percent of total Chilean exports ($21.9 billion), 9.0 percent of total GDP ($24.2 billion), and employed around 10 percent of Chile’s labor force. U.S. agricultural exports to Chile totaled $1.3 billion in 2021, a 29.5 percent increase over 2020. Chile is the second-largest market in South America for U.S. agricultural products, after Colombia.