Economy - overview:
Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports account for more than one-fourth of GDP, with commodities making up some three-quarters of total exports. Copper alone provides one-third of government revenue. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio AYLWIN - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Since 1999, growth has averaged 4% per year. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile claims to have more bilateral or regional trade agreements than any other country. It has 59 such agreements (not all of them full free trade agreements), including with the European Union, Mercosur, China, India, South Korea, and Mexico. Over the past seven years, foreign direct investment inflows have quadrupled to some $15 billion in 2010, but FDI had dropped to about $7 billion in 2009 in the face of diminished investment throughout the world. The Chilean government conducts a rule-based countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and allowing deficit spending only during periods of low copper prices and growth. As of November 2011, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $18 billion. Chile used this fund to finance fiscal stimulus packages during the 2009 economic downturn. In December 2009, the OECD invited Chile to become a full member, after a two year period of compliance with organization mandates, and in May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD. The economy started to show signs of a rebound in the fourth quarter of 2009, and GDP grew more than 5% in 2010 and more than 6% in 2011. Chile achieved this growth despite the 8.8 magnitude earthquake that struck Chile in February 2010, which was one of the top ten strongest earthquakes on record. The earthquake and subsequent tsunamis it generated caused considerable damage near the epicenter, located about 70 miles from Concepcion - and about 200 miles southwest of Santiago.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Chile on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Chile Economy 2012 information contained here. All suggestions for corrections of any errors about Chile Economy 2012 should be addressed to the CIA.
$281 billion (2011 est.)
country comparison to the world: 45
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$243 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
6.5% (2011 est.)
country comparison to the world: 32
[see also: GDP - real growth rate country ranks ]
$16,100 (2011 est.)
country comparison to the world: 74
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 5.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 41.8%
[see also: GDP - composition by sector - industry country ranks ]
services: 53.1% (2010 est.)
[see also: GDP - composition by sector - services country ranks ]
8.047 million (2011 est.)
country comparison to the world: 59
[see also: Labor force country ranks ]
agriculture: 13.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 23%
[see also: Labor force - by occupation - industry country ranks ]
services: 63.9% (2005)
[see also: Labor force - by occupation - services country ranks ]
6.9% (2011 est.)
country comparison to the world: 75
[see also: Unemployment rate country ranks ]
11.5% (2009)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 42.5% (2009)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
52.1 (2009)
country comparison to the world: 17
[see also: Distribution of family income - Gini index country ranks ]
21.8% of GDP (2011 est.)
country comparison to the world: 96
[see also: Investment (gross fixed) country ranks ]
revenues: $57.64 billion
[see also: Budget revenues country ranks ]
expenditures: $56.1 billion (2011 est.)
[see also: Budget expenditures country ranks ]
23.7% of GDP (2011 est.)
country comparison to the world: 129
[see also: Taxes and other revenues country ranks ]
0.6% of GDP (2011 est.)
country comparison to the world: 35
[see also: Budget surplus (+) or deficit (-) country ranks ]
9.4% of GDP (2011 est.)
country comparison to the world: 123
[see also: Public debt country ranks ]
3.3% (2011 est.)
country comparison to the world: 65
[see also: Inflation rate (consumer prices) country ranks ]
3.12% (31 December 2010 est.)
country comparison to the world: 137
[see also: Central bank discount rate country ranks ]
6.3% (31 December 2011 est.)
country comparison to the world: 164
[see also: Commercial bank prime lending rate country ranks ]
$43.35 billion (31 December 2011 est.)
country comparison to the world: 51
[see also: Stock of narrow money country ranks ]
$190.5 billion (31 December 2010 est.)
country comparison to the world: 41
[see also: Stock of broad money country ranks ]
$178.9 billion (31 December 2011 est.)
country comparison to the world: 41
[see also: Stock of domestic credit country ranks ]
$341.6 billion (31 December 2010)
country comparison to the world: 29
[see also: Market value of publicly traded shares country ranks ]
grapes, apples, pears, onions, wheat, corn, oats, peaches, garlic, asparagus, beans; beef, poultry, wool; fish; timber
copper, lithium, other minerals, foodstuffs, fish processing, iron and steel, wood and wood products, transport equipment, cement, textiles
5.3% (2011 est.)
country comparison to the world: 61
[see also: Industrial production growth rate country ranks ]
60.28 billion kWh (2008 est.)
country comparison to the world: 43
[see also: Electricity - production country ranks ]
56.35 billion kWh (2008 est.)
country comparison to the world: 42
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
818 million kWh (2009 est.)
[see also: Electricity - imports country ranks ]
10,640 bbl/day (2010 est.)
country comparison to the world: 85
[see also: Oil - production country ranks ]
302,700 bbl/day (2010 est.)
country comparison to the world: 42
[see also: Oil - consumption country ranks ]
52,390 bbl/day (2009 est.)
country comparison to the world: 78
[see also: Oil - exports country ranks ]
305,100 bbl/day (2009 est.)
country comparison to the world: 34
[see also: Oil - imports country ranks ]
1.35 billion cu m (2009 est.)
country comparison to the world: 61
[see also: Natural gas - production country ranks ]
2.84 billion cu m (2009 est.)
country comparison to the world: 75
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 77
[see also: Natural gas - exports country ranks ]
1.49 billion cu m (2009 est.)
country comparison to the world: 54
[see also: Natural gas - imports country ranks ]
97.97 billion cu m (1 January 2011 est.)
country comparison to the world: 54
[see also: Natural gas - proved reserves country ranks ]
-$1.099 billion (2011 est.)
country comparison to the world: 129
[see also: Current account balance country ranks ]
$86.13 billion (2011 est.)
country comparison to the world: 45
[see also: Exports country ranks ]
copper, fruit, fish products, paper and pulp, chemicals, wine
China 23.8%, Japan 10.2%, US 10%, Brazil 6%, South Korea 5.9% (2010)
$72.31 billion (2011 est.)
country comparison to the world: 42
[see also: Imports country ranks ]
petroleum and petroleum products, chemicals, electrical and telecommunications equipment, industrial machinery, vehicles, natural gas
US 17%, China 13.6%, Argentina 8.5%, Brazil 7.9%, South Korea 5.8%, Japan 5%, Germany 4% (2010)
$41.27 billion (31 December 2011 est.)
country comparison to the world: 43
[see also: Reserves of foreign exchange and gold country ranks ]
$98.68 billion (31 December 2011 est.)
country comparison to the world: 42
[see also: Debt - external country ranks ]
$155.6 billion (31 December 2011 est.)
country comparison to the world: 25
[see also: Stock of direct foreign investment - at home country ranks ]
$57.57 billion (31 December 2011 est.)
country comparison to the world: 33
[see also: Stock of direct foreign investment - abroad country ranks ]
Chilean pesos (CLP) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12