
Chile Economic Outlook
June 14, 2022
Recent data shows that annual economic growth eased in Q1, with private consumption, public spending, fixed investment and export momentum all softening. Moreover, activity contracted on a quarter-on-quarter basis. Turning to Q2, the economy shrank in month-on-month terms in April. However, this was purely due to weaker mining output, as non-mining activity expanded. In particular, consumer spending was robust—notwithstanding surging inflation and interest rates—with the reduced incidence of Covid-19 cases likely playing a role. Meanwhile, business sentiment averaged lower in April–May relative to Q1, hinting at more subdued investment. In politics, in mid-May the constituent assembly finished drafting the new constitution. The text enhances the role of the state, but should broadly safeguard Central Bank independence and private mining rights. A referendum on the document is set for 4 September.Chile Economic Growth
GDP growth will slow notably in 2022 amid high inflation and interest rates, and weak investment due to political uncertainty. New Covid-19 variants, lockdowns in key export market China, potential flare-ups in social unrest if the new constitution is rejected, political violence in the south and the government’s weak parliamentary base are factors to watch. FocusEconomics panelists see GDP growing 2.0% in 2022, which is down 0.1 percentage points from last month’s forecast. In 2023, GDP is seen expanding 0.9%.Chile Economy Data
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Chile Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 3.14 | -0.44 % | Dec 30 |
Exchange Rate | 752.0 | 0.05 % | Jan 01 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Chile Economic News
-
Chile: Copper prices pick up in December; Chilean copper production contracts in November
January 14, 2023
Copper prices rose in December to USD 8,371 per metric ton from the prior month’s USD 8,050 per ton.
-
Chile: Inflation falls to lowest level since June in December
January 6, 2023
Inflation came in at 12.8% in December, which was down from November’s 13.3%.
-
Chile: Business confidence falls in December
January 3, 2023
Business confidence fell to 35.6 in December from November's 41.0.
-
Chile: Economic activity dips in November
January 1, 2023
Economic activity decreased 2.5% compared to the same month of the previous year in November, which followed October's 1.2% decrease.
-
Chile: Economic activity records largest contraction in over one year in October
December 1, 2022
Economic activity dropped 1.2% year on year in October (September: -0.3% yoy).