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.
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