Chilean Economy Expands 4.7% YoY in Q3

In the third quarter of 2013, Chile’s GDP expanded 4.7 percent over a year earlier, up from a revised 4 percent in the previous quarter. The expansion was mainly boosted by mining and agriculture.

On the production side, mining was the main contributor to growth (+8.5 percent, up from 4.5 percent in the second quarter), mainly due to a 9.1 percent improvement in copper production. Agriculture rose 7.4 percent, up from 5.7 percent in the previous quarter and manufacturing production accelerated to 2 percent, from 1 percent in the previous three-month period. In contrast, fishing dropped by 8.1 percent.

On the expenditure side, private consumption grew 1.3 percent, down from 4.1 percent in the previous quarter. Government consumption recorded a 4.9 percent growth rate, while gross fixed capital formation slowed to 3.2 percent from 8.6 percent in the previous quarter.  Exports expanded 13.1 percent, up from a 7 percent growth in the second quarter. Imports slowed to 2.9 percent, mainly due to a large drop in purchases of agricultural products.

On a quarter-on-quarter basis, the economy grew 1.3 percent, after expanding 0.3 percent in the preceding three-month period.

Chilean Economy Expands 4.7% YoY in Q3

Krisztina Györffy |
11/18/2013 1:06:48 PM