In the first quarter, GDP expanded 9.8% over the same quarter last year, the largest expansion in 15 years. The result benefited from a low comparison base reflecting the effects of the February 2010 earthquake. While the figure was well above the 5.8% expansion recorded in the fourth quarter, it was in line with last month's LatinFocus Consensus Forecast. Total consumption accelerated slightly from a 10.3% increase in Q4 2010 to a 11.6% expansion in Q1, owing to stronger private consumption. Meanwhile, gross fixed investment expanded 19.3% in the first quarter, virtually unchanged from the previous period. As a result, domestic demand remained strong, expanding 14.6%. Meanwhile, the net contribution from the external sector to overall growth improved somewhat. Exports of goods and services accelerated from a 5.1% annual increase in the fourth quarter to a 9.5% expansion in Q1. In contrast, imports decelerated, expanding 20.6% in the first quarter (Q4 2010: +26.0% year-on-year). As a result, the net contribution from the external sector to overall economic growth stepped up from minus 10.4 percentage points in the fourth quarter to minus 6.4 percentage points in the first. A quarter-on-quarter comparison points to a moderate acceleration, yet underscores the strength of the Chilean economy. According to seasonally adjusted figures, the economy expanded 1.31% over the previous quarter, following the 1.03% expansion in Q4. The Central Bank expects economic growth to range between 6.25% and 6.75% this year, and between 4.25% and 5.25% in 2012. Finance Minister Felipe Larrain stated that the country is experiencing ?a robust growth trend?, with GDP likely to expand more than 6% this year.
Economy steams ahead in the first quarter
May 18, 2011
Looking for forecasts related to GDP in Chile? Download a sample report now.
Chile Economic News
October 12, 2016
In September, the Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose slightly, inching up from August’s record-low of 31.5 points to 33.4 points.
October 7, 2016
In September, consumer prices rose 0.2% over the previous month, which came in above August’s flat reading.
October 6, 2016
In Q3, the mood among Chilean businesses improved and reached the highest level in a year.
October 5, 2016
For a third consecutive month, the mood among Chilean businesses improved in September after it had fallen to the lowest level in over seven years in June.
October 5, 2016
In August, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC).