Global InformationEconomy of Chile information
 | It has been suggested that Inflation in Chile be merged into this article. (Discuss) Proposed since December 2023. |
 The Santiago neighborhood nicknamed "Sanhattan" | |
| Currency | Chilean peso (CLP) |
|---|---|
Fiscal year | calendar year |
Trade organizations | WTO, CPTPP, APEC, OECD, Mercosur (associate), CAN (associate) |
Country group |
|
| Statistics | |
| Population |  19,250,195 (2022)[3] |
| GDP |
|
| GDP rank |
|
GDP growth |
|
GDP per capita |
|
GDP per capita rank |
|
GDP by sector |
|
Inflation (CPI) | 3.045% (2020)[7] |
Population below poverty line |  10.8% (2020)[8] |
Gini coefficient | 44.4 medium (2017, World Bank)[9] |
Human Development Index |
|
Labor force |
|
Labor force by occupation |
|
| Unemployment |
|
Average gross salary | CLP 957,741 / $1,082 monthly[17] (2022) |
Average net salary | CLP 890,699 / $1,006 monthly[18][19] (2022) |
Main industries | copper, lithium, other minerals, foodstuffs, fish processing, iron and steel, wood and wood products, transport equipment, cement, textiles |
| External | |
| Exports | $79.79 billion (2020)[20] |
Export goods |
|
Main export partners |
|
| Imports |  $66.516 billion (2020)[22] |
Import goods |
|
Main import partners |
|
FDI stock |
|
Current account | 1.33% (of GDP) (2020)[23] |
Gross external debt | $183.4 billion (31 December 2017 est.)[6] |
| Public finances | |
Government debt | 43.8% of GDP (2020)[24] |
Budget balance | −2.8% (of GDP) (2020)[25] |
| Revenues | 57.75 billion (2017 est.)[6] |
| Expenses | 65.38 billion (2017 est.)[6] |
Credit rating |
|
Foreign reserves | $39.166 billion (2020)[27] |
Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars. | |
The economy of Chile is a market economy and high-income economy as ranked by the World Bank.[28] The country is considered one of South America's most prosperous nations,[29] leading the region in competitiveness, income per capita, globalization, economic freedom, and low perception of corruption.[30] Although Chile has high economic inequality, as measured by the Gini index,[31] it is close to the regional mean.[32]
In 2006, Chile became the country with the highest nominal GDP per capita in Latin America.[33] In May 2010 Chile became the first South American country to join the OECD.[34] Tax revenues, all together 20.2069% of GDP in 2013, were the second lowest among the 34 OECD countries, and the lowest in 2010.[35] Chile has an inequality-adjusted human development index of 0.722, compared to 0.720, 0.710 and 0.576 for neighboring Argentina, Uruguay and Brazil, respectively. In 2017, only 0.7% of the population lived on less than US$1.90 a day.[36]
The Global Competitiveness Report for 2009–2010 ranked Chile as being the 30th most competitive country in the world and the first in Latin America, well above Brazil (56th), Mexico (60th), and Argentina (85th); it has since fallen out of the top 30.[33] The ease of doing business index, created by the World Bank, listed Chile as 34th in the world as of 2014, 41st for 2015, and 48th as of 2016.[37] The privatized national pension system (AFP) has an estimated total domestic savings rate of approximately 21% of GDP.[38]
- ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
- ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
- ^ "Population, total - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ a b c d "Report for Selected Countries and Subjects: April 2023". imf.org. International Monetary Fund.
- ^ a b c "The outlook is uncertain again amid financial sector turmoil, high inflation, ongoing effects of Russia's invasion of Ukraine, and three years of COVID". International Monetary Fund. 11 April 2023.
- ^ a b c d e f g h i "Chile". The World Factbook (2024 ed.). Central Intelligence Agency. Retrieved 2 April 2019. (Archived 2019 edition.)
- ^ "Inflation, consumer prices (annual %) - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ "Poverty headcount ratio at national poverty lines (% of population) - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ "GINI index (World Bank estimate)". data.worldbank.org. World Bank. Retrieved 2 April 2019.
- ^ "Human Development Report 2023/2024" (PDF). United Nations Development Programme. 13 March 2024. Archived (PDF) from the original on 13 March 2024. Retrieved 7 April 2024.
- ^ "Inequality-adjusted HDI (IHDI)". hdr.undp.org. UNDP. Retrieved 17 December 2022.
- ^ "Labor force, total - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ "Employment to population ratio, 15+ total (%) (modeled ILO estimate) - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ "Unemployment, total (% of total labor force) (modeled ILO estimate) - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ "Unemployment rate". data.oecd.org. OECD. Archived from the original on 26 December 2019. Retrieved 26 December 2019.
- ^ "Youth unemployment rate". data.oecd.org. OECD. Retrieved 27 April 2020.
- ^ [1]
- ^ [2]
- ^ [3]
- ^ "Exports of goods and services (current US$) - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ a b "Learn More About Trade in Chile". OEC. Archived from the original on 6 April 2015. Retrieved 15 April 2015.
- ^ "Imports of goods and services (current US$) - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ "Current account balance (% of GDP) - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ "General government debt - Total, % of GDP, 2020". Organisation for Economic Co-operation and Development. Retrieved 25 November 2021.
- ^ "General government deficitTotal, % of GDP, 2019 or latest available". Organisation for Economic Co-operation and Development. Retrieved 25 November 2021.
- ^ "Moody's raises Chile credit rating to Aa3". Reuters. Archived from the original on 7 September 2014. Retrieved 6 September 2014.
- ^ "Total reserves (includes gold, current US$) - Chile". The World Bank Group. Retrieved 25 November 2021.
- ^ "Chile". Retrieved 11 June 2015.
- ^ "Country profile: Chile". BBC News. 16 December 2009. Retrieved 31 December 2009.
- ^ "Human and income poverty: developing countries". UNDP. Archived from the original on 12 February 2009. Retrieved 19 May 2008.
- ^ "Encuesta Casen" (PDF). Mideplan. 2007. Archived from the original (PDF) on 25 March 2009.
- ^ Inequality: Chile’s Real Position Archived 3 December 2013 at the Wayback Machine
- ^ a b "Archived copy" (PDF). Archived from the original (PDF) on 30 October 2010. Retrieved 18 February 2011.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "Chile's accession to the OECD". OECD.org. 7 May 2010. Retrieved 7 May 2010.
- ^ OECD: Compare your country by tax rate, access date 13 December 2014
- ^ "Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) – Chile". data.worldbank.org. World Bank. Retrieved 5 February 2020.
- ^ "Doing Business in Chile 2013". World Bank. Archived from the original on 14 September 2018. Retrieved 21 October 2012.
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 12 May 2012. Retrieved 13 July 2013.
{{cite web}}: CS1 maint: archived copy as title (link) The Chilean pension system