This page has economic forecasts for Chile including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Chile economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.70 0.9 1.3 0.8 1 1.2 percent
Unemployment Rate 7.10 6.7 6.8 6.9 6.9 6.8 percent
Inflation Rate 2.90 2.9 2.8 2.8 2.7 3 percent
Interest Rate 2.75 2.75 2.75 2.75 3 3.25 percent
Balance of Trade -220.00 -50 50 100 200 100 USD Million
Government Debt to GDP 23.60 25 27 27 27 30 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 682.33
666 672 677 683 706
Stock Market 26328.34
points
26524 26210 25901 25595 24408
Government Bond 10y 4.77
percent
4.88 4.92 4.97 5.01 5.18
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.70
percent
0.9 1.3 0.8 1 1.2
GDP Annual Growth Rate 5.30
percent
4 3.6 3.4 3.2 3.2
GDP 277.08
USD Billion
295 300 300 300 306
GDP Constant Prices 38311.18
CLP Billion
39098 39419 39614 39537 41560
Gross National Product 141633.98
CLP Billion
147299 146733 146450 146166 156573
Gross Fixed Capital Formation 8085.14
CLP Billion
9655 7847 8360 8344 10263
GDP per capita 15059.53
USD
15087 16000 16000 16000 16500
GDP per capita PPP 22767.04
USD
22880 23400 23400 23400 24500
GDP From Agriculture 955.87
CLP Billion
1023 2000 988 986 1087
GDP From Construction 2297.53
CLP Billion
2894 2196 2376 2371 3076
GDP From Manufacturing 4084.72
CLP Billion
4038 4079 4224 4215 4292
GDP From Mining 3669.15
CLP Billion
4301 3810 3794 3787 4572
GDP From Public Administration 1742.26
CLP Billion
1833 1787 1801 1798 1948
GDP From Services 3744.57
CLP Billion
3918 3572 3872 3864 4164
GDP From Transport 1889.13
CLP Billion
2050 1983 1953 1950 2179
GDP From Utilities 1002.96
CLP Billion
1107 1085 1037 1035 1176
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 7.10
percent
6.7 6.8 6.9 6.9 6.8
Employed Persons 8333.16
Thousand
8350 8354 8353 8353 8353
Unemployed Persons 634.96
Thousand
665 675 680 685 675
Employment Rate 55.00
percent
55.07 55.21 55.22 55.19 55.19
Labor Force Participation Rate 59.20
percent
59.1 59.06 59.07 59.06 59.06
Job Vacancies 17.50
Index Points
20.25 20.35 20.3 20.26 20.24
Wages 4681.06
CLP/Hour
4700 4850 4840 4964 5300
Wages in Manufacturing 111.43
Index Points
109 109 109 111 112
Minimum Wages 276000.00
CLP/Month
276000 280000 280000 280000 290000
Population 18.37
Million
18.51 18.7 18.7 18.7 19.1
Retirement Age Women 60.00
60 60 60 60 60
Retirement Age Men 65.00
65 65 65 65 65
Living Wage Family 599700.00
CLP/Month
630000 620000 620000 620000 640000
Living Wage Individual 388600.00
CLP/Month
405000 402500 402500 402500 386905
Wages High Skilled 1154700.00
CLP/Month
1171346 1200000 1200000 1200000 1191000
Wages Low Skilled 388700.00
CLP/Month
378734 374000 374000 374000 383498
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 2.90
percent
2.9 2.8 2.8 2.7 3
Consumer Price Index CPI 119.57
Index Points
118 119 119 123 122
Core Consumer Prices 119.12
Index Points
120 121 122 122 127
Core Inflation Rate 1.90
percent
2.8 3 2.9 2.9 2.9
Export Prices 96.40
Index Points
96.67 96.78 96.77 96.71 96.74
Import Prices 88.59
Index Points
89.86 89.89 89.91 90.97 90.33
Food Inflation 3.50
percent
3.2 3 3.4 3.4 3.4
Producer Prices 113.65
Index Points
120 119 125 123 139
Producer Prices Change 4.70
percent
6.2 7.4 7.6 7.8 7.8
CPI Transportation 110.61
Index Points
110 109 111 113 117
Inflation Rate Mom 0.40
percent
0.3 0.4 0.4 0.5 0.3
GDP Deflator 123.50
Index Points
126 127 126 128 133
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 2.75
percent
2.75 2.75 2.75 3 3.25
Interbank Rate 3.09
percent
3.02 3.02 3.02 3.27 3.52
Money Supply M1 33611.55
CLP Billion
33986 34511 35080 35629 40473
Money Supply M2 132643.05
CLP Billion
134422 137020 139671 142315 165684
Money Supply M3 226451.59
CLP Billion
230318 235118 240008 244894 288330
Foreign Exchange Reserves 37394.90
USD Million
37400 37210 37088 36988 36385
Banks Balance Sheet 138801.00
CLP Million
141000 142000 142000 143000 144000
Loans to Private Sector 98423.00
CLP Billion
99907 101342 102763 104177 116567
Deposit Interest Rate 2.90
percent
2.9 3.2 3.2 3.2 3.3
Private Debt to GDP 189.10
percent
189 193 193 193 184
Central Bank Balance Sheet 26833.00
CLP Million
27008 27209 27371 27503 28030
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -220.00
USD Million
-50 50 100 200 100
Exports 6566.00
USD Million
6200 6150 6250 6200 6300
Imports 6783.00
USD Million
6250 6100 6150 6000 6200
Current Account -1846.00
USD Million
-400 -650 -700 -740 -700
Current Account to GDP -1.50
percent
-1.3 -1.1 -1.1 -1.1 -1
External Debt 180446.89
USD Million
190000 190000 192000 180028 195000
Capital Flows -786.06
USD Million
-166 -1115 -901 -812 -804
Gold Reserves 0.25
Tonnes
0.25 0.25 0.25 0.25 0.25
Terms Of Trade 99.78
Index Points
107 108 108 106 107
Terrorism Index 3.25
2.6 3.25 3.25 3.21 2.5
Tourist Arrivals 251518.00
Persons
372800 310300 305600 335400 324300
Foreign Direct Investment -1578.30
USD Million
-1500 -900 -700 -1895 -600
Crude Oil Production 3.00
BBL/D/1K
3 3 3 3 3
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 23.60
percent
25 27 27 27 30
Government Budget -2.80
percent of GDP
-2.4 -1.6 -1.6 -1.6 -1.3
Government Budget Value -592210.20
CLP Million
-343744 -338045 -322632 -318011 -315291
Government Spending 5376.39
CLP Billion
5921 4357 5559 5548 6294
Government Revenues 3298612.14
CLP Million
3292413 3280756 3275011 3273082 3272386
Fiscal Expenditure 3890822.33
CLP Million
3663667 3618800 3597643 3591093 3587676
Military Expenditure 4805.30
USD Million
4848 4900 4900 4900 4985
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence 53.55
Index Points
50.7 51.2 51.4 51.6 52
Industrial Production -3.20
percent
0.6 1.8 2.5 3.2 3.4
Industrial Production Mom -0.80
percent
0.4 0.6 0.2 0.2 1.3
Manufacturing Production -5.40
percent
-2.8 -0.7 -1.1 -4.2 2.2
Changes in Inventories 765.80
CLP Billion
350 2134 779 2128 340
Total Vehicle Sales 38729.00
34000 33000 33000 34617 36000
Leading Economic Index 2.30
percent
3 3.4 3.7 3.8 3.7
Internet Speed 9258.62
KBps
12059 12343 12803 13284 16588
IP Addresses 3793061.00
IP
3903858 3900868 3906287 3911702 3929827
Steel Production 90.00
Thousand Tonnes
93.38 94.36 94.7 94.82 94.87
Mining Production -1.30
percent
2.4 3.4 3 3.6 3.5
Ease of Doing Business 56.00
56 58 58 58 57
Competitiveness Index 70.26
Points
70.76 70.76 70.76 70.76 73.26
Competitiveness Rank 33.00
33 33 33 33 33
Copper Production 484.10
Thousands of Tonnes
560 550 560 565 570
Corruption Index 67.00
Points
67 67 67 67 67
Corruption Rank 26.00
26 26 26 26 26
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence 46.70
Index Points
46 49 51 51.4 52.3
Retail Sales MoM -3.50
percent
0.8 1.3 0.87 0.79 1.4
Retail Sales YoY 1.60
percent
3.4 3.4 1.82 1.8 3.7
Consumer Spending 24443.10
CLP Billion
26216 24719 25274 25225 27866
Consumer Credit 22439.00
CLP Billion
22732 23020 23306 23575 25524
Private Sector Credit 154113.07
CLP Billion
158076 160780 163416 166025 188855
Households Debt To GDP 43.70
percent of GDP
44.89 44.07 44.28 44.21 44.7
Bank Lending Rate 6.00
percent
5.98 5.98 5.98 6.23 6.48
Gasoline Prices 1.23
USD/Liter
1.21 1.19 1.17 1.15 1.06
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Housing Index 187.80
Index points
188 190 192 193 202
Building Permits 7485.00
Units
10200 11500 12000 7000 12000
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 27.00
percent
27 27 27 27 27
Personal Income Tax Rate 35.00
percent
35 35 35 35 35
Sales Tax Rate 19.00
percent
19 19 19 19 19
Social Security Rate 24.60
percent
24.6 24.6 24.6 24.6 24.6
Social Security Rate For Employees 17.60
percent
17.6 17.6 17.6 17.6 17.6
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 22.80
mm
35.57 37.8 51.39 51.39 54.84
Temperature 11.90
celsius
11.08 13.14 8.55 8.2 9.6



Chile - Economic Forecasts - 2018-2020 Outlook