21, Nov 2009, CST. Welcome to the Chile economic statistics pages provided by the beta version of EconomyWatch.com’s Econ Stats database.

Economic Indicators For: Chile › Change country
National or Regional Currency: Chilean Peso, CLP
Year of data: 2008 › Change year
Number of Indicators Listed: 19
Full Dataset: From Year 1980 to 2013
Date of Last Update: 1 Sept 2009
Population: 16,601,707 (July 2009 est.)
Area: total: 756,950 sq km land: 748,800 sq km water: 8,150 sq km note: includes Easter Island (Isla de Pascua) and Isla Sala y Gomez
Natural Resources: copper, timber, iron ore, nitrates, precious metals, molybdenum, hydropower
Government Type: Chile government type
Government Ministers: Chile ministers
Capital: Santiago
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook

Chile has a market-oriented economy characterized by a high level of foreign trade (imports and exports) 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 40 per cent of Gross Domestic Product (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. Growth in real Gross Domestic Product (GDP) averaged 8 per cent during 1991-97, but fell to half that level in 1998 because of tight monetary policies implemented to keep the national current account balance deficit in check and because of reduced export revenues - the latter a product of the global economic downturn. A severe drought exacerbated the situation in 1999, reducing crop yields and causing hydroelectric shortfalls and electric power rationing, and Chile experienced negative growth of the economy for the first time in more than 15 years. In the years since then, growth has averaged 4 per cent per year. Chile deepened its longstanding commitment to trade (imports and exports) liberalisation with the signing of a open or free trade (imports and exports) agreement with the USA, which took effect on 1 January 2004. Chile claims to have more bilateral or regional trade (imports and exports) agreements than any other country. It has 57 such agreements (not all of them full open or free trade (imports and exports) agreements), including with the European union, Mercosur, China, India, South Korea, and Mexico. Over the past five years, Foreign Direct Investment (FDI) in flows have quadrupled to some US$17 bn in 2008. The Chilean government conducts a rule-based countercyclical financial policy, accumulating surpluses in sovereign wealth investment during periods of high copper prices or pricing and growth of the economy, and permitting deficit spending only during periods of depressed copper prices or pricing and growth. As of September 2008, those sovereign wealth investment - kept mostly outside the nationand separate from national national Central Bank national reserves - amounted to more than US$20 bn.
More on the Chile Economy
More on the Chile Export, Import and Trade

GDP (Constant Prices, National Currency) for Chile in year 2008 is CLP 64,699.39 Billion. Real GDP is expressed in billions of national currency units; the base year is country-specific.

GDP Growth (Constant Prices, National Currency) for Chile in year 2008 is 3.203 %. Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific.

GDP (Current Prices, National Currency) for Chile in year 2008 is CLP 88,595.22 Billion. GDP is expressed in billions of national currency units.

GDP (Current Prices, US Dollars) for Chile in year 2008 is US$ 169.573 Billion. Values are based upon GDP in national currency and the exchange rate projections provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise.

GDP Deflator for Chile in year 2008 is 136.934 (Index, Base Year as per country's accounts = 100). The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Please note: Data are expressed in the base year of each country's national accounts.

GDP Per Capita (Constant Prices, National Currency) for Chile in year 2008 is CLP 3,862,675.22 . GDP is expressed in constant national currency per person. Data are derived by dividing constant price GDP by total population.

GDP Per Capita (Current Prices, National Currency) for Chile in year 2008 is CLP 5,289,301.48 . GDP is expressed in current national currency per person. Data are derived by dividing current price GDP by total population.

GDP Per Capita (Current Prices, US Dollars) for Chile in year 2008 is US$ 10,123.82 . GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.

Output Gap, Percent of Potential GDP for Chile in year 2008 is not available

GDP (PPP), US Dollars for Chile in year 2008 is US$ 243.044 Billion. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Per Capita (PPP), US Dollars for Chile in year 2008 is US$ 14,510.19 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Share of World Total (PPP) for Chile in year 2008 is 0.355 %. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Implied PPP Conversion Rate for Chile in year 2008 is 364.523 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Investment (% of GDP) for Chile in year 2008 is not available

Gross National Savings (% of GDP) for Chile in year 2008 is not available

Inflation, Average Consumer Prices (Indexed to Year 2000) for Chile in year 2008 is 133.375 (Index, Base Year 2000 = 100). Data for inflation are averages for the year, not end-of-period data. The index is based on 2000=100.

Inflation (Average Consumer Price Change %) for Chile in year 2008 is 8.716 %. Data for inflation are averages for the year, not end-of-period data.

Inflation, End of Year (Indexed to Year 2000) for Chile in year 2008 is 134.081 (Index, Base Year 2000 = 100). Data for inflation are end of the period, not annual average data. The index is based on 2000=100.

Inflation (End of Year Change %) for Chile in year 2008 is 6.891 %. Data for inflation are end of the period, not annual average data.

Six-month London Interbank Offered Rate (LIBOR) Change % for Chile in year 2008 is not available

Unemployment Rate (% of Labour Force) for Chile in year 2008 is not available

Employment for Chile in year 2008 is not available

Population for Chile in year 2008 is 16.75 Million .

General Government Balance (National Currency) for Chile in year 2008 is not available

General Government Balance (% of GDP) for Chile in year 2008 is not available

General Government Structural Balance (National Currency) for Chile in year 2008 is not available

General Government Structural Balance (% Potential GDP) for Chile in year 2008 is not available

General Government Net Debt (National Currency) for Chile in year 2008 is not available

General Government Net Debt (% GDP) for Chile in year 2008 is not available

General Government Gross Debt (National Currency) for Chile in year 2008 is not available

General Government Gross Debt (% GDP) for Chile in year 2008 is not available

Current Account Balance (US Dollars) for Chile in year 2008 is US$ -3.439 Billion. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.

Current Account Balance (% GDP) for Chile in year 2008 is -2.028 %. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.