The economy of Chile shrank 9.1% year-on-year in the third quarter of 2020, following an upwardly revised record 14.5% slump in the previous period and compared with market expectations of a 9.2% drop. It was the second consecutive contraction amid the coronavirus crisis. Output shrank less in manufacturing (-4% vs -11.8% in Q2); restaurant & hotels (-43.2% vs -52.1%); transport (-28.6% vs -33.6%); personal services (-18.6% vs -29.5%); real estate (-4.4% vs -5.6%); business services (-7.6% vs -10.3%); construction (-29.6% vs -20.6%); utilities (-0.6% vs -3.3%) and agriculture (-3.2% vs -5.7%). Additionally, trade output stalled, after plunging 20.8%; while public administration expanded 2.4%, the same as in Q2. In contrast, output shrank in mining (-1% vs 1.5%), mainly due to copper (-0.9% vs 1.1%); and financial services (-0.2% vs 3.1%). On a seasonally adjusted quarterly basis, the economy grew 5.2%, recovering from an upwardly revised record 13.5% contraction in the previous period. source: Banco Central de Chile

GDP Annual Growth Rate in Chile averaged 3.42 percent from 1997 until 2020, reaching an all time high of 9.30 percent in the fourth quarter of 2004 and a record low of -14.50 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 February of 2021.

GDP Annual Growth Rate in Chile is expected to be -6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Chile to stand at 6.50 in 12 months time. In the long-term, the Chile GDP Annual Growth Rate is projected to trend around 4.50 percent in 2021 and 3.30 percent in 2022, according to our econometric models.

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Chile GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-9.10 -14.50 9.30 -14.50 1997 - 2020 percent Quarterly
2013=100


Calendar GMT Actual Previous Consensus TEForecast
2020-03-18 11:30 AM Q4 -2.1% 3.4% -1.9% -2%
2020-05-18 12:30 PM Q1 0.4% -2.1% -0.1% 0.2%
2020-08-18 12:30 PM Q2 -14.1% 0.2% -14% -13.9%
2020-11-18 11:30 AM Q3 -9.1% -14.5% -9.2% -9.2%
2021-03-18 11:30 AM Q4 -9.1% -6%
2021-05-18 12:30 PM Q1
2021-08-18 12:30 PM Q2
2021-11-18 11:30 AM Q3


News Stream
Chile Economy Shrinks Slightly Less than Expected
The economy of Chile shrank 9.1% year-on-year in the third quarter of 2020, following an upwardly revised record 14.5% slump in the previous period and compared with market expectations of a 9.2% drop. It was the second consecutive contraction amid the coronavirus crisis. Output shrank less in manufacturing (-4% vs -11.8% in Q2); restaurant & hotels (-43.2% vs -52.1%); transport (-28.6% vs -33.6%); personal services (-18.6% vs -29.5%); real estate (-4.4% vs -5.6%); business services (-7.6% vs -10.3%); construction (-29.6% vs -20.6%); utilities (-0.6% vs -3.3%) and agriculture (-3.2% vs -5.7%). Additionally, trade output stalled, after plunging 20.8%; while public administration expanded 2.4%, the same as in Q2. In contrast, output shrank in mining (-1% vs 1.5%), mainly due to copper (-0.9% vs 1.1%); and financial services (-0.2% vs 3.1%). On a seasonally adjusted quarterly basis, the economy grew 5.2%, recovering from an upwardly revised record 13.5% contraction in the previous period.
2020-11-18
Chile Economy Shrinks the Most on Record
The economy of Chile shrank 14.1 percent year-on-year in the second quarter of 2020, after growing a downwardly revised 0.2 percent in the previous period and compared with market expectations of a 13.1 percent slump. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. Output plunged in manufacturing (-10.6% vs 0.8% in Q1); construction (-20.4% vs 5.5%); real estate (-5.3% vs 1.4%); business services (-9.5% vs 2%); and utilities (-3.1% vs 1.8%). Also, production shrank further in restaurant & hotels (-52.8% vs -6.7%); trade (-20.6% vs -1.6%); transport (-34.4% vs -3.3%); personal services (-27.9% vs -6%); and agriculture (-6% vs -3.5%). In addition, growth slowed in mining (1.6% vs 5.3%), namely copper (1.1% vs 3.7%); public administration (2.4% vs 4.3%); and financial services (2.7% vs 5.9%). On a seasonally adjusted quarterly basis, the economy contracted 13.2 percent, the most on record, following a 3 percent expansion in the prior quarter.
2020-08-18
Chile Economy Recovers in Q1
The economy of Chile grew 0.4 percent year-on-year in the first quarter of 2020, after shrinking 2.1 percent in the previous session and beating market expectations of a 0.1 percent contraction. Output rebounded in mining (5.1% vs -2% in Q4 2019), namely copper (3.5% vs -2.7%); manufacturing (1.1% vs -1%); trade (-1.7 % vs -4.8%); real estate (1.2% vs -0.5%); and utilities (1.2% vs -3.2%). Additionally, output growth accelerated in construction (5.3% vs 5%); public administration (3.7% vs 2.4%); business services (1.8% vs 0.7%); and financial services (6.5% vs 5.8%). Meanwhile, output shrank further in restaurant & hotels (-6.5% vs -5.4%); and fishing (-10.6% vs -6%). On a seasonally adjusted quarterly basis, the economy advanced 3 percent, recovering from a 4.1 percent contraction in the prior period and above forecasts of a 2.7 percent growth.
2020-05-18
Chile Economy Shrinks for 1st time in Nearly 3 Years
The economy of Chile shrank 2.1% year-on-year in Q4 2019, after expanding an upwardly revised 3.4% in the prior period and compared with forecasts of a 1.9% decline. It was the first contraction since Q1 2017, amid domestic violent unrest which began on October over a hike in metro fares. Mining production fell further (-2% vs -1% in Q3), namely copper (-2.7% vs 1.1%); and output shrank in manufacturing (-1% vs 2.7%); trade (-4.8% vs 2%); transport (-3.8% vs 4.6%); restaurant & hotels (-5.4% vs 5.9%); personal services (-11.3% vs 4.7%); real estate (-0.5% vs 2.4%); utilities (-3.2% vs 1.2%); agriculture (-1.9% vs 1.6%); and fishing (-6% vs 1.1%). Also, output growth slowed in construction (5% vs 6.5%); communications (0.7% vs 2.2%); public administration (2.4% vs 2.7%); and business services (0.7% vs 4.1%). On a seasonally adjusted quarterly basis, the economy shrank 4.1%, following an upwardly revised 0.8% growth in Q3. Considering full 2019, the GDP expanded 1.1%.
2020-03-18

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.