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, potatoes, chicken, tomatoes, sugar beets, maize, oats (2022).
More about the economy of Chile
| Labor force | 9.848 million (2023 est.) |
|---|---|
| Industrial production growth rate | 1.56% (2023 est.) |
| Industries | copper, lithium, other minerals, foodstuffs, fish processing, iron and steel, wood and wood products, transport equipment, cement, textiles |
| Population below poverty line | 10.8% (2020 est.) |
| Taxes and other revenues | 21.27% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Chilean pesos (CLP) per US dollar - |
| 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.) |
| Exchange rates 2019 | 702.897 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $46.377 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $39.102 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $51.252 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$11.899 billion (2023 est.) |
| Current account balance 2022 | -$26.162 billion (2022 est.) |
| Current account balance 2021 | -$22.962 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 23.6% of GDP (2017 est.) |
| Budget | |
| Revenues | $78.577 billion (2022 est.) |
| Expenditures | $72.673 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.02% of GDP (2023 est.) |
| Remittances 2022 | 0.02% of GDP (2022 est.) |
| Remittances 2021 | 0.02% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.3% (2022 est.) |
| Highest 10% | 34.5% (2022 est.) |
| Average household expenditures | |
| On food | 18% of household expenditures (2022 est.) |
| On alcohol and tobacco | 3.3% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $99.808 billion (2023 est.) |
| Imports 2022 | $118.941 billion (2022 est.) |
| Imports 2021 | $102.637 billion (2021 est.) |
| Imports (partners) | China 26%, US 22%, Brazil 10%, Argentina 5%, Germany 3% (2022) |
| Comodities Imports force | refined petroleum, cars, crude petroleum, garments, trucks (2022) |
| Exports | |
| Imports 2023 | $99.808 billion (2023 est.) |
| Imports 2022 | $118.941 billion (2022 est.) |
| Imports 2021 | $102.637 billion (2021 est.) |
| Exports (partners) | China 39%, US 14%, Japan 8%, South Korea 6%, Brazil 5% (2022) |
| Comodities Exports force | copper ore, refined copper, carbonates, fish, raw copper (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $579.201 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $577.937 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $566.279 billion (2021 est.) |
| GDP (official exchange rate) | $335.533 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $29,500 (2023 est.) |
| Real GDP per capita 2022 | $29,500 (2022 est.) |
| Real GDP per capita 2021 | $29,100 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 3.5% (2023 est.) |
| Industry | 29.7% (2023 est.) |
| Services | 56.9% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 60.6% (2023 est.) |
| Government consumption | 15.1% (2023 est.) |
| Investment in fixed capital | 23.8% (2023 est.) |
| Investment in inventories | -0.9% (2023 est.) |
| Exports of goods and services | 31.1% (2023 est.) |
| Imports of goods and services | -29.8% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 9.04% (2023 est.) |
| Unemployment rate 2022 | 8.3% (2022 est.) |
| Unemployment rate 2021 | 9.33% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 22% (2023 est.) |
| Male | 20.2% (2023 est.) |
| Female | 24.5% (2023 est.) |
All Important Facts about Chile
Want to know more about Chile? Check all different factbooks for Chile below.
