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November 07, 2011

Chile Expands Services Exports and Consolidates Position as Most Technologically Advanced Country in Latin America
By Calvin Azuri
TMCnet Contributor

Chile has joined the rank of leading global exporters of services which include education and technology and has effectively solidified its standing as the most technologically and electronically advanced country in Latin America. Other leading exporters of services across the globe are China, India, Korea, Brazil, Mexico, and Russia. The World Trade Organization estimates that Chile’s export of services which touched US$10,800 million in 2010 is expected to reach US$13,000 million by 2011 and represents 60 percent of GDP and accounts for 70 percent of the labor force.

Sustained economic development over the past few decades, commercial liberalization, and the reliability of the country's institutions have all led to Chile emerging as a major connecting bridge between the region and the rest of the world. The country now has access to a global market which has incidentally become more aware of the multitude of professional services and array of exportable products provided by Chile. As regards services, Argentina is a major recipient which is followed by Peru, the United States, Brazil, and Columbia. These countries currently account for 83 percent of investment within the sector

Chile's Digital Strategy supports both economic and social development as it harnesses the potential of information and communication technologies. The country's exports from this sector which includes services such as hardware, software and IT Services, software customization, online services and information technology outsourcing as well as BPO telecommunications, and call centers amounted to US$718 million in 2009. According to the Economist Intelligence Unit, Chile currently has the most advanced level of electronic preparation across the region.

Because of its location and array of multilingual services, Chile is ideal for clients within the U.S. The country's primary export market however is South America which accounts for 50.4 percent of exports, followed by the U.S. at 21.1 percent and Europe with 18.9 percent.

Education is also a rapidly advancing sector within the Chilean economy. A growing number of higher education institutions providing quality education supported by a professional staff as well as advanced infrastructure and cutting edge technology have contributed to the country's portfolio of exporting services. Public and private universities in Santiago currently offer post graduate programs such as engineering sciences, mathematics, administration, social sciences, education agricultural programs, technology and ocean sciences as well as art and architecture among a host of other such programs.

Calvin Azuri is a contributing editor for TMCnet. To read more of Calvin’s articles, please visit his columnist page.

Edited by Rich Steeves


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