Chile Current Account Balance Shifts to Surplus in Q4

Chile posted a current account surplus of $1.3 billion in Q4 2025, the first since Q1 2024, reversing a deficit of $1.3 billion shortfall in the same period a year ago. The goods surplus picked up to $6.5 billion from $2.5 billion in Q4 2024, as the increase in exports outpaced that of imports. At the same time, the services deficit fell slightly to $2.2 billion from $2.3 billion; and the secondary income gap decreased to $9 million from $241 million. On the other hand, the primary income deficit climbed to $5.2 billion from $3.6 billion. In 2025, the economy posted a current account deficit of $4.349 billion, driven by net income payments abroad and a services trade deficit, partly offset by a surplus in the goods trade balance

Chile posted a current account deficit of $4.6 billion in the third quarter of 2025, widening from the $2.4 billion gap from the corresponding period of the previous year to reflect the largest deficit in two years. The goods account surplus narrowed to $2.4 billion from $4.1 billion last year amid as a surge in imports more than offset the slight growth in exports. In the meantime, the deficit in the primary account widened to $4.8 billion from $4 billion. In turn, the service gap narrowed slightly ($-2.3 billion vs $-2.3 billion in Q3 2024), while the secondary account remained relatively balanced.

Chile logged a current account deficit of $3.25 billion in Q2 2025, the largest since Q3 2023 and widening from $1.86 billion in the same period a year ago. The primary income deficit increased to $5.59 billion from $4.94 billion, mainly due to a $4.61 billion shortfall in direct investment income, as foreign investors earned $5.81 billion in Chile, while Chilean investments abroad generated $1.21 billion. At the same time, the services shortfall rose to $2.47 billion from $2.38 billion, and the goods surplus shrank to $4.52 billion from $5.26 billion in June 2024, with imports (+13.1%) growing more than exports (+7%). Conversely, the secondary income surplus rose to US$0.3 billion from US$0.2 billion, driven by net transfers of US$300 million, reflecting additional tax revenues on dividends paid by foreign investments in Chile.