Trade between China and Chile has been booming. The two countries signed a trade deal in 2005 and renewed that deal in 2017, while the new deal took effect early this year. The tariff exemption covers 98 percent of bilateral trade items. Bilateral trade reached over 42 billion U.S. dollars in 2018 which was an increase of 24% year-on-year. Meanwhile, Chile mainly exports mineral and forestry products to China. It mainly imports textiles, light industrial products, electronic and machinery products from China.