Exporting Services to the World

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In most developed countries, the service industry is the single-largest contributor to GDP and employment. Services account for about two-thirds of world economic activity.

Services include such crucial industries and sectors as finances, construction, engineering, telecommunications, transport, commerce, distribution, business and personal services, etc. In developing countries, these sectors can account for more than 50 percent of GDP. In developed nations, they account for as much as 70 percent of GDP.

Chile's remarkable economic performance, world-class professional practitioners and efficient infrastructure have driven sustained growth in the service sector. These factors, complemented by high levels of trade liberalization and international integration, solid institutions, political and economic stability, an investment-friendly regulatory framework and advantageous labor market conditions have propelled the service sector to account for more than 60 percent of Chile's GDP.

Recent service sector reforms have generated much interest abroad, leading to increased requests for expert assistance on pension fund, public and private health, and government reform issues. These services rely to a great extent on the major information and communications technology strides Chile has made over the past 15 years.

A hallmark of service exports is their ability to generate exports of additional goods, services and/or technologies of the same origin. The resulting spillover is of enormous relevance to Chile, as countries both generate jobs and wealth and benefit from efficient foreign services at lower costs.

Chile is making successful strides in the service export field. Chile has a competitive edge and enjoys growing international recognition in several areas.

For more information about Services, visit: www.chilexportaservicios.cl.