Page:CREST-Allendes Chile Supply Demand Gap.pdf/13

   Imports - An Important Crutch So Far

Rising imports thus far have enabled Chile significantly to increase consumer supplies. Imports increased by almost 13% in 1971 and are rising an estimated 15% in 1972, despite a two-year drop in export earnings of about 20%. Partly filling the gap between declining output and spiraling demand. foodstuffs imports jumped by more than 70% in 1971 and have been boosted by another 35% or so in 1972. Net food purchases are approaching $400 million this year. compared with $150 million in 1970 (sue Figure 4). Imports of industrial raw materials and fuel have risen by perhaps 40% since 1970, while machinery purchases have dropped to a

Million US$ 