Foreign Direct Investment 3.5% of GDP in the last 3 years*
Trade Volume 54% of GDP
*Last available figure
GDP by Sector
Main sectors, % of total, 2021
Services
32%
Others
21%
Mining15%
Retail11%
Manufacturing9%
Construction6%
Pub. Admin.
4%
Agriculture 3%
Source: trade.org,International Monetary Fund (IMF) & Central Bank of Chile.
Chile: Macro adjustments
Although Chile stood out for its ability to recover from the pandemic, it incubated a series of macro imbalances which will generate several adjustments mainly in GDP growth.
The imbalances have been reflected in inflation, fiscal deficit and higher current account deficit, among others. Greater imbalances have been incubated since the 1980s.
In the current scenario, it is useful to identify the following:
The certainties:
The economy will have a sharp slowdown. We will back to our core reality, with per capita stagnation, higher inflation, and higher interest rates. Slight improvement in employment.
There will be permanent tensions between fiscal adjustments and political objectives. Chile will have a new long-term equilibrium (rates and CLP).
The uncertainties:
Outcome of constitutional discussion.
Priorities in political discussion and reform agenda.
5
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Banco de Chile published this content on 16 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2022 14:38:02 UTC.
Banco de Chile is a full service financial institution, which is engaged in providing credit and non-credit products and services in Chile. The Bank offers a range of banking services to its customers, ranging from individuals to corporations. The Bank's segments include Retail, which focuses on individuals and small and medium-sized companies, where the product offering focuses on consumer loans, commercial loans, checking accounts, credit cards, credit lines and mortgage loans; Wholesale, which focuses on corporate clients and companies, where the product offering focuses on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts and leases; Treasury, which includes the associated revenues to the management of the investment portfolio and the business of financial transactions and currency trading, and Subsidiaries, which corresponds to companies and corporations controlled by the Bank.
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