Chile’s gross domestic product rose 17.2 percent in the third quarter of 2021, easing from an 18.1 percent growth in the previous period and below market expectations of a 17.6 percent expansion. It was the second-fastest pace of expansion of the Chilean economy on record, solely behind the previous quarter, uplifted from low base year effects from the pandemic and reflecting the opening of the economy and the government’s fiscal stimuli. Economic growth was mostly driven by personal services (24.5 percent vs 35.6 percent in Q2), trade (29 percent vs 42.6 percent), restaurants, and hotels (86.7 percent vs 73.6 percent), manufacturing (12.4 percent vs 15.4 percent), and communications (13.3 percent vs 9.4 percent). On the other hand, output contracted for mining activity (-4 percent vs 2.7 percent), particularly copper (-6.7 percent vs 1.7 percent). On a seasonally adjusted quarterly basis, the economy expanded 4.9 percent, following an upwardly revised 1.6 percent jump in Q2. source: Banco Central de Chile

GDP Annual Growth Rate in Chile averaged 3.64 percent from 1997 until 2021, reaching an all time high of 18.10 percent in the second quarter of 2021 and a record low of -14.20 percent in the second quarter of 2020. This page provides - Chile GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Chile GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.

GDP Annual Growth Rate in Chile is expected to be 8.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Chile GDP Annual Growth Rate is projected to trend around 3.50 percent in 2022 and 3.30 percent in 2023, according to our econometric models.

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Chile GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-18 12:30 PM Q2 18.1% 0.5% 17.4% 15%
2021-11-18 11:30 AM Q3 17.2% 18.1% 17.6% 16.5%


Related Last Previous Unit Reference
GDP Growth Rate 4.90 1.60 percent Sep/21
GDP Annual Growth Rate 17.20 18.10 percent Sep/21

News Stream
Chile GDP Growth Hits 17.2% in Q2
Chile’s gross domestic product rose 17.2 percent in the third quarter of 2021, easing from an 18.1 percent growth in the previous period and below market expectations of a 17.6 percent expansion. It was the second-fastest pace of expansion of the Chilean economy on record, solely behind the previous quarter, uplifted from low base year effects from the pandemic and reflecting the opening of the economy and the government’s fiscal stimuli. Economic growth was mostly driven by personal services (24.5 percent vs 35.6 percent in Q2), trade (29 percent vs 42.6 percent), restaurants, and hotels (86.7 percent vs 73.6 percent), manufacturing (12.4 percent vs 15.4 percent), and communications (13.3 percent vs 9.4 percent). On the other hand, output contracted for mining activity (-4 percent vs 2.7 percent), particularly copper (-6.7 percent vs 1.7 percent). On a seasonally adjusted quarterly basis, the economy expanded 4.9 percent, following an upwardly revised 1.6 percent jump in Q2.
2021-11-18
Chile GDP Surges at Record Pace in Q2
Chile's gross domestic product surged 18.1 percent year-on-year in the June quarter of 2021, following an upwardly revised 0.5 percent growth in the previous period and beat market expectations of a 17.4 percent expansion. It was the fastest pace of expansion of the Chilean economy on record, reflecting low base year effects and the government’s fiscal stimuli to offset the impacts of the pandemic, which peaked during that period. Economic growth was mostly driven by personal services (36.3 percent vs -0.8 percent in Q1), notably education and health; trade, restaurants & hotels (46.2 percent vs 6.4 percent); manufacturing (16.5 percent vs 2.8 percent); financial & business services (8.5 percent vs -2.0 percent), namely professional activities; and construction (14.8 percent vs -11.5 percent). On a seasonally adjusted quarterly basis, the economy expanded 1 percent, following an upwardly revised 3.4 percent jump in the first quarter.
2021-08-18
Chile GDP Expands Less than Expected
Chile's gross domestic product advanced 0.3% year-on-year in the first quarter of 2021, following a flat growth rate in the previous period and missed market expectations of a 0.5% expansion. Main positive contributions came from manufacturing (2.0% vs 3.5% in Q4); trade, restaurants & accommodation (6.9% vs 6.8%); housing maintenance & furniture (0.7% vs flat reading in Q4); forestry & agriculture (2.3% vs 4.7%); and public administration (2.2% vs 2.9%). On the other hand, output fell in financial & corporate services (-2.2% vs -2.4%); construction (-11.7% vs -11.2%); mining (-2.1% vs -2.6%), mostly dragged down by copper output (-2.5%); personal services (-1.0% vs -0.7%); and transportation (-6.1% vs -7.8%). On a seasonally adjusted quarterly basis, the economy expanded 3.2%, easing from a downwardly revised 6.4% jump in Q4, as the nation struggled with a resurgence in COVID-19 infections.
2021-05-18

Chile GDP Annual Growth Rate
The most important sector of Chilean economy is services. Trade, restaurants and hotels, transport, communications, financial and business services, real estate and personal services account for more than 56 percent of the GDP. Mining constitutes 13 percent of the output with copper representing the biggest part. Manufacturing creates 12 percent of the wealth and construction and water, gas and electricity distribution 11 percent. The government fuels 5 percent of the output and the agriculture and fishing sector accounts for the remaining 3 percent of GDP.