Chile - Economy
How is the economy of Chile? Based on the information we have, Chile has a export-driven economy; leading copper producer; though hit by COVID-19, fairly quick rebound from increased liquidity and rapid vaccine rollouts; decreasing poverty but still lingering inequality; public debt rising but still manageable; recent political violence has had negative economic consequences. Key agricultural products in this country include: grapes, milk, apples, wheat, tomatoes, potatoes, chicken, maize, sugar beets, pork (2023).
More about the economy of Chile
| Labor force | 10.088 million (2024 est.) |
|---|---|
| Industrial production growth rate | 3.5% (2024 est.) |
| Industries | copper, lithium, other minerals, foodstuffs, fish processing, iron and steel, wood and wood products, transport equipment, cement, textiles |
| Population below poverty line | 6.5% (2022 est.) |
| Taxes and other revenues | 17.7% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Chilean pesos (CLP) per US dollar - |
| Exchange rates 2024 | 943.572 (2024 est.) |
| Exchange rates 2023 | 840.067 (2023 est.) |
| Exchange rates 2022 | 873.314 (2022 est.) |
| Exchange rates 2021 | 758.955 (2021 est.) |
| Exchange rates 2020 | 792.727 (2020 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $44.403 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $46.377 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $39.102 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$4.853 billion (2024 est.) |
| Current account balance 2023 | -$10.497 billion (2023 est.) |
| Current account balance 2022 | -$26.656 billion (2022 est.) |
| Budget | |
| Revenues | $78.577 billion (2022 est.) |
| Expenditures | $72.673 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 0% of GDP (2024 est.) |
| Remittances 2023 | 0% of GDP (2023 est.) |
| Remittances 2022 | 0% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 2.3% (2022 est.) |
| Highest 10% | 34.5% (2022 est.) |
| Average household expenditures | |
| On food | 19.4% of household expenditures (2023 est.) |
| On alcohol and tobacco | 3.5% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $99.239 billion (2024 est.) |
| Imports 2023 | $100.082 billion (2023 est.) |
| Imports 2022 | $118.928 billion (2022 est.) |
| Imports (partners) | China 23%, USA 20%, Brazil 10%, Argentina 7%, Germany 5% (2023) |
| Comodities Imports force | refined petroleum, crude petroleum, cars, garments, trucks (2023) |
| Exports | |
| Imports 2024 | $99.239 billion (2024 est.) |
| Imports 2023 | $100.082 billion (2023 est.) |
| Imports 2022 | $118.928 billion (2022 est.) |
| Exports (partners) | China 39%, USA 16%, Japan 7%, S. Korea 6%, Brazil 4% (2023) |
| Comodities Exports force | copper ore, refined copper, fish, carbonates, pitted fruits (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $596.556 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $581.187 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $578.173 billion (2022 est.) |
| GDP (official exchange rate) | $330.267 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $30,200 (2024 est.) |
| Real GDP per capita 2023 | $29,600 (2023 est.) |
| Real GDP per capita 2022 | $29,600 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 3.9% (2024 est.) |
| Industry | 30.1% (2024 est.) |
| Services | 56.1% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 58.1% (2024 est.) |
| Government consumption | 15.1% (2024 est.) |
| Investment in fixed capital | 23.5% (2024 est.) |
| Investment in inventories | -0.3% (2024 est.) |
| Exports of goods and services | 33.7% (2024 est.) |
| Imports of goods and services | -30.1% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 9.1% (2024 est.) |
| Unemployment rate 2023 | 9.1% (2023 est.) |
| Unemployment rate 2022 | 8.3% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 22.3% (2024 est.) |
| Male | 20.3% (2024 est.) |
| Female | 24.9% (2024 est.) |
All Important Facts about Chile
Want to know more about Chile? Check all different factbooks for Chile below.
