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Economy In Chile

Contents FAQS Articles Resources The Strong and Stable Chile Economy The dynamic, market-orientated economy in Chile has a strong reputation for foreign trade, financial stability, and sound policy making. This makes Chile a logical choice for investing, working, and living. Over the past decade and a half the economy of Chile has grown at an average […]

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The bright lights and touring buildings of Santiago show a thriving Chile economy at work.

The Strong and Stable Chile Economy

The dynamic, market-orientated economy in Chile has a strong reputation for foreign trade, financial stability, and sound policy making. This makes Chile a logical choice for investing, working, and living.

Over the past decade and a half the economy of Chile has grown at an average of around 5% each year, slowing a little in recent years to 2.5%.

Lief Simon, Director of Overseas Property Alert, Founde of Simon Letter, and Founder, of Global Property Advisor

Reviewed By Lief Simon

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

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The county still has a very high bond rating, among the top in all of South America. Chile’s government puts focus on sound economic policy making and standing by its Free Trade Agreements.

For these reasons the country is an eager and welcoming place for foreigners and specifically foreigners doing business.

The World Bank lists the Chilean economy among the high-income economies of the world. 

The country is considered by many to be the most stable nation in South America, besting other large economic nations in the region; Argentina, Brazil, and Colombia.

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Statistics On The Chile Economy

 
Information Type Notes
GDP (2024 est.) $350 billion
Real annual growth rate (2024 est.) 2.3%
Per capita income US$14,632
Inflation rate 4.7%
Natural resources Timber, seafood, minerals.
Primary sectors (61.6% of GDP) Hotels and restaurants, financial intermediation, trade, and transport and communication.
Secondary sectors (35% of GDP) Industry; copper, lithium, other minerals, foodstuffs, fish processing, iron and steel, wood and wood products, transport equipment, cement, textiles.
Tertiary sectors (3.4% of GDP) Agriculture; grapes, apples, pears, onions, wheat, corn, oats, peaches, garlic, asparagus, beans; beef, poultry, wool; fish; timber
Exports US$7.38 billion: copper, fruit, fish products, paper and pulp, chemicals, wine
Major trade markets China (26.3%), US (13.2%), Japan (8.5%), South Korea (6.5%), Brazil (4.9%)
Imports US$5.26 billion: petroleum and petroleum products, chemicals, electrical and telecommunications equipment, industrial machinery, vehicles, natural gas
Major suppliers China (23.4%), US (18.8%), Brazil (7.8%), Argentina (4%)
Labor force 9.85 million
Lief Simon, Director of Overseas Property Alert, Founde of Simon Letter, and Founder, of Global Property Advisor

Reviewed By Lief Simon

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

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Economy In Chile- FAQs

Submit Your Own Questions

Chile is the number one country for copper production and the second for lithium. And, its economy is also strengthened by valuable agricultural, fishery, and forestry resources.

Chile’s main industry is the services sector, which represents more than half of the GDP and employs close to 70% of the working population.

This sector includes diverse activities like retail, finance, tourism, and professional services. Additionally, mining has a key role in the economy.

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