Economy of Chile: Difference between revisions

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*[[Developing country|Developing/Emerging]]<ref>{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies |title=World Economic Outlook Database, April 2019 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=29 September 2019}}</ref>

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*{{increase}} 56.4% employment rate (2024)<ref name="Employmenyrate2020">{{cite web |title=Employment to population ratio, 15+ total (%) (modeled ILO estimate) - Chile |url=https://data.worldbank.org/indicator/SL.EMP.TOTL.SP.ZS?locations=CL |publisher=The World Bank Group |access-date=25 November 2021}}</ref>}}

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*{{decreasePositive}} 7.2% (2022)<ref name="Unemployment2020">{{cite web |title=Unemployment, total (% of total labor force) (modeled ILO estimate) - Chile |url=https://data.worldbank.org/indicator/SL.UEM.TOTL.ZS?locations=CL |publisher=The World Bank Group |access-date=25 November 2021}}</ref>

*{{increaseNegative}} 6.9% (September 2019)<ref>{{cite web |url=https://data.oecd.org/chart/5NDK |title=Unemployment rate |publisher=[[OECD]] |website=data.oecd.org |access-date=26 December 2019 |archive-url=https://web.archive.org/web/20191226190129/https://data.oecd.org/chart/5NDK |archive-date=26 December 2019 |url-status=dead }}</ref>

| average gross salary = CLP 1,172,860 / $1,238 monthly<ref name="oecd.org">[https://www.oecd.org/content/dam/oecd/en/publications/reports/2025/04/taxing-wages-2025_20d1a01d/b3a95829-en.pdf#page176 Taxing Wages 2024: Tax and Gender through the Lens of the Second Earner | READ online.]</ref><ref name="ReferenceA">{{Cite web|url=https://www.oecd.org/en/publications/taxing-wages-2025_b3a95829-en.html|title=Taxing Wages 2025|date=30 April 2025|website=OECD}}</ref> (2024)

| average net salary = CLP 1,088,264 / $1,149 monthly<ref name="oecd.org"/><ref name="ReferenceA"/> (2024)

| exports = {{increase}} $104.5 billion (2023)<ref name="Exports2020">{{cite web |title=Exports of goods and services (current US$) - Chile |url=https://data.worldbank.org/indicator/NE.EXP.GNFS.CD?locations=CL |publisher=The World Bank Group |access-date=25 November 2021}}</ref>

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*{{flag|China}}(+) 39.0%

*{{increase}} Abroad: $95.37 billion (31 December 2017 est.)<ref name="CIAWFCI"/>}}

| gross external debt = {{increaseNegative}} $183.4&nbsp;billion (31 December 2017 est.)<ref name="CIAWFCI"/>

| revenue = 57.75&nbsp;billion (2017 est.)<ref name="CIAWFCI">{{Cite CIA World Factbook|country=Chile|access-date=2 April 2019}}</ref>

| expenses = 65.38&nbsp;billion (2017 est.)<ref name="CIAWFCI"/>

*A+ (Fitch Ratings)<ref>{{cite news|url=https://www.reuters.com/article/chile-ratng-moodys-idUSWNA354320100616|title=Moody's raises Chile credit rating to Aa3|work=Reuters|access-date=6 September 2014|archive-date=7 September 2014|archive-url=https://web.archive.org/web/20140907082035/http://www.reuters.com/article/2010/06/16/chile-ratng-moodys-idUSWNA354320100616|url-status=live}}</ref>}}

| reserves = {{decrease}} $39.166 billion (2020)<ref name="reserves2020">{{cite web |title=Total reserves (includes gold, current US$) - Chile |url=https://data.worldbank.org/indicator/FI.RES.TOTL.CD?end=2020&locations=CL&start=2010 |publisher=The World Bank Group |access-date=25 November 2021}}</ref>

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In 2006, Chile achieved the highest nominal GDP per capita in Latin America.<ref name="weforum.org">{{cite web |title=Archived copy |url=http://www.weforum.org/pdf/GCR09/GCR20092010fullrankings.pdf |url-status=dead |archive-url=https://web.archive.org/web/20101030003958/http://www.weforum.org/pdf/GCR09/GCR20092010fullrankings.pdf |archive-date=30 October 2010 |access-date=18 February 2011}}</ref> In May 2010, it became the first South American nation to join the OECD.<ref name="OECD_20100507">{{cite web |date=7 May 2010 |title=Chile's accession to the OECD |url=http://www.oecd.org/document/11/0,3343,en_33873108_39418658_45115147_1_1_1_1,00.html |access-date=7 May 2010 |publisher=OECD.org}}</ref> However, tax revenues, which were 20.2% of GDP in 2013, remained the second lowest among the 34 OECD countries, having been the lowest in 2010.<ref>[http://www.compareyourcountry.org/tax-revenues?cr=oecd&cr1=oecd&lg=en&page=0# OECD: Compare your country by tax rate], access date 13 December 2014</ref> Chile's [[List of countries by inequality-adjusted Human Development Index|inequality-adjusted Human Development Index]] (HDI) was 0.704, compared to 0.747 for Argentina, 0.720 for Uruguay, and 0.577 for Brazil.<ref name="clhdi">{{Cite web |date=13 March 2024 |title=Human Development Report 2023/2024 |url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf|url-status=live |archive-url=https://web.archive.org/web/20240313164319/https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf |archive-date=13 March 2024 |access-date=5 May 2024 |publisher=[[United Nations Development Programme]] |language=en}}</ref> As of 2017, only 0.7% of Chile's population lived on less than $1.90 per day.<ref>{{cite web |title=Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) – Chile |url=https://data.worldbank.org/indicator/SI.POV.DDAY?locations=CL&name_desc=false |access-date=5 February 2020 |website=data.worldbank.org |publisher=World Bank}}</ref> According to statistics of the Chilean government, 20.9% of the population continues to be affected by [[Multidimensional Poverty Index|multidimensional poverty]].<ref name="auto" />

==History==

{{main|Economic history of Chile}}

[[File:GDP_per_capita_development_of_Chile.svg|thumb|Change in per capita GDP of Chile, 1820–2018. Figures are inflation-adjusted to 2011 international dollars.]]

After Spanish arrival in the 15th century Chilean economy came to revolve around [[Autocracy|autarchy]] estates called fundos and around the army that was engaged in the [[Arauco War]]. During early colonial times there were gold exports to Peru from [[placer deposit]]s which soon depleted. Trade restrictions and monopolies established by the Spanish crown are credited for having held back economic development for much of the colonial times. As effect of these restrictions the country incorporated very few new crops and animal breeds after initial conquest. Other sectors that were held back by restrictions were the wine and mining industries. The [[Bourbon reforms]] in the 18th century eased many monopolies and trade restrictions.

Under the influence of the [[Chicago Boys]] the [[Pinochet regime]] made of Chile a leading country in establishing [[neoliberal]] policies. These policies allowed large corporations to consolidate their power over the Chilean economy, leading to long-term economic growth.<ref>Ricardo Ffrench-Davis, ''Economic Reforms in Chile: From Dictatorship to Democracy'', University of Michigan Press, 2002, {{ISBN|9780472112326}}, p. 7</ref>

According to the [[CIA World Factbook]], during the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of [[Patricio Aylwin]], who took over from the military in 1990, deepened the economic reform initiated by the military government. The Aylwin government departed significantly from the neoliberal doctrine of the Chicago boys, as evidenced by higher government expenditure on social programs to tackle poverty and poor quality housing.<ref>{{cite book|last1=Dominguez|first1=Jorge|title=Constructing democratic governance in Latin America|date=2003|publisher=JHU Press|isbn=1421409798}}</ref> Growth in real GDP averaged 8% from 1991 to 1997,{{Citation needed|date=February 2011}} but fell to half that level in 1998 because of tight monetary policies (implemented to keep the current account deficit in check) and lower exports due to the [[1997 Asian financial crisis]]. Chile's economy has since recovered and has seen growth rates of 5–7% over the past several years.{{Citation needed|date=February 2011}}

==Sectors==

===Agriculture===

{{main|Agriculture in Chile}}

Chile is one of the 5 largest world producers of [[cherry]] and [[cranberry]], and one of the 10 largest world producers of [[grape]], [[apple]], [[Kiwifruit|kiwi]], [[peach]], [[plum]] and [[hazelnut]], focusing on exporting high-value fruits.<ref>{{cite web| url = http://www.fao.org/faostat/es/#data/QC/| title = Chile en 2018, por FAO}}</ref>

In 2018, Chile was the 9th largest producer of [[grape]]s in the world, with 2 million tons produced; the 10th largest producer of [[apple]]s in the world, with 1.7 million tons produced; and the 6th largest producer of [[Kiwifruit|kiwi]] in the world, with 230 thousand tons produced, in addition to producing 1.4 million tons of [[wheat]], 1.1 million tons of [[maize]], 1.1 million tons of [[potatoes]], 951 thousand tons of [[tomatoes]], 571 thousand tons of [[oats]], 368 thousand tons of [[onions]], 319 thousand tons of [[peaches]], 280 thousand tons of [[pears]], 192 thousand tons of [[rice]], 170 thousand tons of [[barley]], 155 thousand tons of [[cherries]], 151 thousand tons of [[lemons]], 118 thousand tons of [[tangerines]], 113 thousand tons of [[Orange (fruit)|oranges]], 110 thousand tons of [[olives]], 106 thousand tons of [[cranberries]], in addition to smaller productions of other agricultural products.<ref>{{cite web| url = http://www.fao.org/faostat/en/#data/QC/| title = Chile production in 2018, by FAO}}</ref>

Chile's position in the [[Southern Hemisphere]] leads to an agricultural season cycle opposite to those of the principal consumer markets, primarily located in the Northern Hemisphere.<ref name="Amcham"/> Chile's extreme north–south orientation produces seven different macro-regions distinguished by climate and geographical features, which allows the country itself to stagger harvests and results in extended harvesting seasons.<ref name="Amcham"/> However, the [[Geography of Chile|mountainous landscape of Chile]] limits the extent and intensity of agriculture so that arable land corresponds only to 2.62% of the total territory.<ref name="cia.gov"/> Through Chile's trade agreements, its agricultural products have gained access to a market controlling 77% of the world's GDP and by approximately 2012, 74% of Chilean agribusiness exports will be duty-free.<ref name="Amcham"/>

Chile's principal [[growing region]] and agricultural heartland is the [[Chilean Central Valley|Central Valley]] delimited by the [[Chilean Coast Range]] in the west, the [[Andes]] in the east [[Aconcagua River]] by the north and [[Bío-Bío River]] by the south. In the northern half of Chile cultivation is highly dependent on [[irrigation]]. South of the Central Valley cultivation is gradually replaced by [[aquaculture]], [[silviculture]], sheep and cattle farming.

====Forestry====

{{main|Forestry in Chile}}

The Chilean forestry industry grew to comprise 13% of the country's total exports in 2005, making it one of the largest export sectors for Chile.<ref name="Amcham"/> [[Radiata Pine]] and [[Eucalyptus]] comprise the vast majority of Chile's forestry exports.<ref name="Amcham"/> Within the forestry sector, the largest contributor to total production is [[Pulp (paper)|pulp]], followed by wood-based panels and [[lumber]].<ref name="Amcham"/> Due to popular and increasing demands for Chile's forestry products, the government is currently focusing on increasing the already vast acreage of Chile's Pine and Eucalyptus plantations as well as opening new industrial plants.<ref name="Amcham">{{cite web|url=http://www.amchamchile.cl/estudios|title=Estudios|work=AmCham Chile|date=22 January 2008|access-date=11 June 2015}}</ref>

====Wine====

{{main|Chilean wine}}

[[File:Chileanwine.jpg|thumb|right | Wines of Chile]]

===Mining===

[[File:Chuqui001.jpg|thumb|Chile produces more than a third of the world's copper.]]

===Services===

Chilean foreign policy has recognized the importance of the [[tertiary sector of the economy|tertiary sector]] or service sector to the economy, boosting its international liberalization and leading to the signing of several [[free trade area]] agreements.

Chilean service exportation consists mainly of maritime and aeronautical services, tourism, retail (department stores, supermarkets, and shopping centers), engineering and construction services, informatics, health and education.<ref>[http://chileabroad.gov.cl/sobre-chile/asi-es-chile/panorama-actual/economia/ Economía Crecimiento Sostenido] {{webarchive|url=https://web.archive.org/web/20140203091123/http://chileabroad.gov.cl/sobre-chile/asi-es-chile/panorama-actual/economia/ |date=3 February 2014 }} {{cite web |url=http://chileabroad.gov.cl/ |title=Chile en el Exterior |access-date=3 October 2015 |url-status=dead |archive-url=https://web.archive.org/web/20151002063156/http://chileabroad.gov.cl/ |archive-date=2 October 2015 }} 27 January 2014</ref>

Chile ranked first among Latin American countries (and No. 32 worldwide) in [[Adecco]]'s 2019 Global Talent Competitiveness Index (GTCI).<ref>{{in lang|es}} Mike Cortez, [http://latam-outsource.com/2019/01/22/america-latina-rezagada-en-talento-de-acuerdo-con-ranking-de-adecco/ América Latina Rezagada En Talento De Acuerdo Con Ranking De Adecco] {{Webarchive|url=https://web.archive.org/web/20190220003029/http://latam-outsource.com/2019/01/22/america-latina-rezagada-en-talento-de-acuerdo-con-ranking-de-adecco/ |date=20 February 2019 }}, ''Latam-outsource.com'', 22 January 2019</ref>

Chile's financial sector has grown quickly in recent years, with a banking reform law approved in 1997 that broadened the scope of permissible foreign activity for Chilean banks. The Chilean Government implemented a further liberalization of capital markets in 2001, and there is further pending legislation proposing further liberalization. Over the last ten years, people who live in Chile have enjoyed the introduction of new financial tools such as home equity loans, currency futures and options, factoring, leasing, and debit cards. The introduction of these new products has also been accompanied by an increased use of traditional instruments such as loans and credit cards. Chile's private pension system, with assets worth roughly $70&nbsp;billion at the end of 2006, has been an important source of investment capital for the capital market. However, by 2009, it was reported that $21&nbsp;billion had been lost from the pension system to the [[2008 financial crisis]].<ref>{{cite web|url=http://www.globalpost.com/dispatch/chile/090121/uncertain-future |title=An uncertain future |publisher=GlobalPost |access-date=17 December 2009 |url-status=dead |archive-url=https://web.archive.org/web/20100811120405/https://www.globalpost.com/dispatch/chile/090121/uncertain-future |archive-date=11 August 2010 }}</ref>

====Tourism====

[[File:Valle_del_Elqui,_La_Serena-Chile.JPG|thumb|[[Elqui Valley (wine region)|Elqui Valley]], wine and pisco region]]

{{main|Tourism in Chile}}

Tourism in Chile has experienced sustained growth over the last decades. Chile received about 2.25&nbsp;million foreign visitors in 2006,<ref name="INE">{{cite web |url=http://www.ine.cl/canales/chile_estadistico/estadisticas_economicas/turismo/infoanual/informesanuales.php |title=2006 Tourism Report |access-date=5 August 2008 |publisher=INE |archive-url = https://web.archive.org/web/20080730174532/http://www.ine.cl/canales/chile_estadistico/estadisticas_economicas/turismo/infoanual/informesanuales.php <!-- Bot retrieved archive --> |archive-date = 30 July 2008}}</ref> up to 2.50&nbsp;million in 2007<ref>{{cite web |url=http://www.tourismroi.com/Content_Attachments/27670/File_633513750035785076.pdf |title=Archived copy |access-date=18 November 2008 |url-status=dead |archive-url=https://web.archive.org/web/20080819191518/http://www.tourismroi.com/Content_Attachments/27670/File_633513750035785076.pdf |archive-date=19 August 2008 }}</ref>

The percentages of foreign tourists arrivals by land, air and sea were, respectively, 55.3%, 40.5% and 4.2% for that year.<ref name="INE"/> The two main gateways for international tourists visiting Chile are [[Arturo Merino Benítez International Airport]] and [[Paso Libertadores|Paso Los Libertadores]].

Many of the most visited attractions in Chile are protected areas. The extensive [[Protected areas of Chile|Chilean protected areas]] system includes 32 protected parks, 48 natural reserves and 15 natural monuments.<ref name="INE"/>

==Economic policies==

===Fiscal policy===

One of Chile's fiscal policy central features has been its counter-cyclical nature. This has been facilitated by the voluntary application since 2001 of a structural balance policy based on the commitment to an announced goal of a medium-term structural balance as a percentage of GDP. The structural balance nets out the effect of the economic cycle (including copper price volatility) on fiscal revenues and constrains expenditures to a correspondingly consistent level. In practice, this means that expenditures rise when activity is low and decrease in booms<ref name="oecd2007">[http://www.oecd.org/chile/43411879.pdf Rodríguez, J., C. Tokman and A. Vega (2007). "Structural balance policy in Chile".] OECD Journal on Budgeting 7(2), pp. 59–92.</ref> The target was of 1% of GDP between 2001 and 2007, it was reduced to 0.5% in 2008 and then to 0% in 2009 in the wake of the [[2008 financial crisis]].<ref name="corbo2005">[http://www.elmercurio.com/blogs/2013/08/25/14699/La-politica-fiscal-chilena.aspx Corbo, Vittorio. La política fiscal chilena.] Blogs from El Mercurio Newspaper. 25 August 2013.</ref> In 2005, key elements of this voluntary policy were incorporated into legislation through the Fiscal Responsibility Law (Law 20,128).<ref name="oecd2007"/>

===Monetary policy===

Chile's monetary authority is the [[Central Bank of Chile]] (CBoC). The CBoC pursues an inflation target of 3%, with a tolerance range of 1% (below or above).<ref name="cb07">[http://www.bcentral.cl/eng/publications/policies/polit07.htm "Central Bank of Chile: Monetary Policy in an Inflation Targeting Framework".] {{webarchive|url=https://web.archive.org/web/20131221030312/http://www.bcentral.cl/eng/publications/policies/polit07.htm |date=21 December 2013 }} Central Bank of Chile, January 2007.</ref> Inflation has followed a relatively stable trajectory since the year 2000, remaining under 10%, despite the temporary surge of some inflationary pressures in the year 2008. The Chilean peso's rapid appreciation against the U.S. dollar in recent years has helped dampen inflation. Most wage settlements and loans are indexed, reducing inflation's volatility.

Chile is also a party in conversations to establish the [[Pacific Alliance]] along with Peru, Mexico and Colombia.<ref>[https://www.economist.com/blogs/americasview/2013/04/growing-pacific-alliance "The growing Pacific Alliance, Join the club" ''The Economist'', April 29, 2013].</ref>

[[File:Antiguas reservas wine.jpg|thumb|Chile is the world's fifth largest [[Wine#Exporting countries|exporter of wine]] and the [[Wine#Production|eighth largest producer]].<ref>{{cite web|url=http://en.mercopress.com/2010/06/25/chile-ranks-fifth-globally-in-wine-exports-and-eighth-in-production|title=Chile ranks fifth globally in wine exports and eighth in production|work=[[Santiago Times]]}}</ref>]]

2006 was a record year for Chilean trade. Total trade registered a 31% increase over 2005. During 2006, exports of goods and services totaled US$58&nbsp;billion, an increase of 41%. This figure was somewhat distorted by the skyrocketing price of copper. In 2006, copper exports reached a historical high of US$33.3&nbsp;billion. Imports totaled US$35&nbsp;billion, an increase of 17% compared to the previous year. Chile thus recorded a positive trade balance of US$2.3&nbsp;billion in 2006.<ref name="countrystudies"/>

====Trade agreements====

Over the last several years, Chile has signed FTAs with the European Union, South Korea, New Zealand, Singapore, Brunei, China, and Japan. It reached a partial trade agreement with India in 2005 and began negotiations for a full-fledged FTA with India in 2006. Chile conducted trade negotiations in 2007 with Australia, Malaysia, and Thailand, as well as with China to expand an existing agreement beyond just trade in goods. Chile concluded FTA negotiations with Australia and an expanded agreement with China in 2008. The members of the P4 (Chile, Singapore, New Zealand, and Brunei) also plan to conclude a chapter on finance and investment in 2008.<ref name="countrystudies"/>

After two years of negotiations, the United States and Chile signed an agreement in June 2003 that will lead to completely duty-free bilateral trade within 12 years. The U.S.-Chile FTA entered into force 1 January 2004, following approval by the U.S. and Chilean congresses. The FTA has greatly expanded U.S.-Chilean trade ties, with total bilateral trade jumping by 154% during the FTA's first three years.<ref name="countrystudies"/> On 1 January 2014, Chile-Vietnam Free Trade Agreement officially took effect.<ref>{{cite web|url=http://wtocenter.vn/other-agreement/vietnam-chile-free-trade-agreement-vcfta|title=Vietnam-Chile Free Trade Agreement (VCFTA) – WTO and International trade Policies|website=wtocenter.vn|access-date=22 March 2018|archive-url=https://web.archive.org/web/20170920043903/http://wtocenter.vn/other-agreement/vietnam-chile-free-trade-agreement-vcfta|archive-date=20 September 2017|url-status=dead}}</ref>

==Issues==

Unemployment hovered at 8–10% after the start of the economic slowdown in 1999, above the 7% average for the 1990s. Unemployment finally dipped to 7.8% in 2006, and continued to fall in 2007, averaging 6.8% monthly (up to August).<ref>{{cite web|url=http://si2.bcentral.cl/Basededatoseconomicos/951_417.asp?m=EMP03&f=M&i=E|title=Chilean Central Bank|url-status=dead|archive-url=https://web.archive.org/web/20110513104129/http://si2.bcentral.cl/Basededatoseconomicos/951_417.asp?m=EMP03&f=M&i=E|archive-date=13 May 2011}}</ref> Wages have risen faster than inflation as a result of higher productivity, boosting national [[standard of living|living standards]]. The percentage of Chileans with household incomes below the poverty line – defined as twice the cost of satisfying a person's minimal nutritional needs – fell from 45.1% in 1987 to 11.7% in 2015, according to government polls.<ref name="auto">{{cite web|url=http://observatorio.ministeriodesarrollosocial.gob.cl/casen-multidimensional/casen/docs/CASEN_2015_Situacion_Pobreza.pdf|work=Ministerio de Desarrollo Social|title=Casen 2015, Situación de la pobreza en Chile|access-date=11 November 2017|date=22 September 2016|archive-url=https://web.archive.org/web/20180403135548/http://observatorio.ministeriodesarrollosocial.gob.cl/casen-multidimensional/casen/docs/CASEN_2015_Situacion_Pobreza.pdf|archive-date=3 April 2018|url-status=dead}}</ref> Critics in Chile, however, argue that poverty figures are considerably higher than those officially published; until 2016, the government defined the poverty line based on an outdated 1987 household consumption poll, instead of more recent polls from 1997 or 2007. According to critics who use data from the 1997 poll, the poverty rate goes up to 29%; a study published in 2017 claims that it reaches 26%.<ref>{{cite news|url=http://www.economiaynegocios.cl/noticias/noticias.asp?id=35048|newspaper=El Mercurio|title=Una muy necesaria corrección: Hay cuatro millones de pobres en Chile|date=14 October 2007|access-date=22 October 2007}}</ref> Using the relative yardstick favoured in many European countries, 27% of Chileans would be poor, according to Juan Carlos Feres of the [[ECLAC]].<ref>{{cite news|newspaper=The Economist|title=Destitute no more|url=http://www.economist.com/displaystory.cfm?story_id=9645174|access-date=22 October 2007|date=16 August 2007}} {{Subscription required}}</ref><ref>{{Cite news|publisher=El Mostrador|title=Estudio de Fundación Sol revela que la pobreza en Chile superaría el 26%, más del doble de las cifras oficiales|url=http://www.elmostrador.cl/noticias/pais/2017/07/31/estudio-de-fundacion-sol-revela-que-la-pobreza-en-chile-superaria-el-26-mas-del-doble-de-las-cifras-oficiales/|access-date=11 November 2017|date=31 July 2017|archive-date=11 November 2017|archive-url=https://web.archive.org/web/20171111204714/http://www.elmostrador.cl/noticias/pais/2017/07/31/estudio-de-fundacion-sol-revela-que-la-pobreza-en-chile-superaria-el-26-mas-del-doble-de-las-cifras-oficiales/|url-status=dead}}</ref> Starting in 2016, a new [[Multidimensional Poverty Index]] is also used, which reached 20.9% using 2015 data.<ref name="auto"/>

== Social inequalities ==

By 2021, the combined wealth of Chile's billionaires represented 16.1% of the country's gross domestic product (GDP).<ref name=":0">{{Cite news |title=Riqueza extrema: Chile, el país donde los ultrarricos tienen el patrimonio más grande de América Latina |language=es |work=BBC News Mundo |url=https://www.bbc.com/mundo/noticias-60396723 |access-date=2023-05-28}}</ref>

==Statistics==

=== Main economic indicators ===

{{static row numbers}}{{sticky header}}

{| class="wikitable sortable sticky-header" style="text-align:center;"

|2020

|{{Decrease}}491.4

|{{Decrease}}-6.1%

|{{Increase}}3.0%

|-

|2021

|{{Increase}}11.7%

|{{Increase}}4.5%

|2022

|{{Increase}}619.2

|{{Increase}}2.0%

|{{IncreaseNegative}}11.6%

|2023

|{{Increase}}653.3

|{{Increase}}335.6

|{{IncreaseNegative}}8.7%

|{{IncreaseNegative}}8.3%

|-

|2024

|{{Increase}}333.8

|{{Increase}}4.1%

|{{DecreasePositive}}8.2%

|-

|2025

|{{Increase}}3.0%

|{{DecreasePositive}}7.8%

|-

|2026

|{{Increase}}2.4%

|{{Increase}}3.0%

|-

|2027

|{{Increase}}3.0%

|{{DecreasePositive}}7.2%

|-

|2028

|{{Increase}}2.5%

|{{Increase}}3.0%

|-

|2029

|{{Increase}}3.0%

|{{DecreasePositive}}7.2%

== See also ==

{{Portal|Money}}

* [[List of Latin American and Caribbean countries by GDP growth]]

* [[List of Latin American and Caribbean countries by GDP (nominal)]]