The economy of Chile advanced 5.3 percent year-on-year in the second quarter of 2018, faster than an upwardly revised 4.3 percent expansion in the previous period and beating market consensus of a 4.0 percent rise. It was the strongest growth since the third quarter of 2012, as fixed investment, household spending and government spending increased sharply. Among economic activities, the manufacturing and trade sectors were the main contributors to growth. On a seasonally adjusted quarterly basis, the gross domestic product expanded 0.7 percent compared to a 1.2 percent rise in the first quarter of 2018. GDP Annual Growth Rate in Chile averaged 3.83 percent from 1997 until 2018, reaching an all time high of 9.50 percent in the first quarter of 2011 and a record low of -3.90 percent in the second quarter of 1999.

Chile GDP Annual Growth Rate
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Chile Annual GDP Growth Strongest in Near 6 Years


The economy of Chile advanced 5.3 percent year-on-year in the second quarter of 2018, faster than an upwardly revised 4.3 percent expansion in the previous period and beating market consensus of a 4.0 percent rise. It was the strongest growth since the third quarter of 2012, as fixed investment, household spending and government spending increased sharply. Among economic activities, the manufacturing and trade sectors were the main contributors to growth.

Year-on-year, fixed investment rose strongly (7.1 percent vs 3.1 percent in Q1), boosted by investment in machinery and equipment (12.5 percent vs 5.2 percent) and investment in construction (4.0 percent vs 1.9 percent). Additionaly, household spending (4.2 percent vs 3.4 percent) and government spending (2.8 percent vs 1.5 percent) continued to grow. Meanwhile, net external demand contributed negatively to growth as imports jumped 10.0 percent (vs 6.1 percent in Q1), amid higher purchases of metallic products, machinery and equipment; fuels and chemicals. At the same time, exports advanced at a softer 7.5 percent (vs 7.1 percent), boosted by shipments of copper and manufactured products.

On the production side, output went up markedly in manufacturing (7.3 percent vs 3.2 percent), led by production of food (9.4 percent vs 4.5 percent), beverages & tobacco (13.6 percent vs 0.1 percent) and metallic products, machinery and equipment (8.0 percent vs 7.7 percent); as well as for internal trade (8.1 percent vs 6.0 percent). Faster growth was also recorded in: financial intermediation (4.4 percent vs 4.2 percent); business services (5.4 percent vs 3.3 percent); construction (4.6 percent vs 2.5 percent); fisheries (10.5 percent vs -6.5 percent) and agriculture (7.8 percent vs 1.2 percent). Meanwhile, activity slowed in mining and quarrying (4.8 percent vs 19.1 percent), as copper production rose less (4.7 percent 20.4 percent); utilities (5.0 percent vs 5.6 percent); restaurants & hotels (3.7 percent vs 4.6 percent); transport (4.8 percent vs 5.0 percent) and information and communication (4.0 percent vs 4.7 percent).

On a seasonally adjusted quarterly basis, the GDP expanded 0.7 percent, compared to a 1.2 percent rise in the first quarter of 2018.



Banco Central de Chile | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/20/2018 1:53:21 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-03-19 11:30 AM GDP Growth Rate YoY 3.3% 2.5% 2.9% 3.0%
2018-05-18 12:30 PM GDP Growth Rate YoY 4.2% 3.3% 4% 4.0%
2018-08-20 11:30 AM GDP Growth Rate YoY 5.3% 4.3% 4% 5.0%
2018-11-19 11:30 AM GDP Growth Rate YoY 5.3% 5.2% 2.9%


Chile GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 1.20 4.30 -2.70 percent [+]
GDP Annual Growth Rate 5.30 4.30 9.50 -3.90 percent [+]
GDP 277.08 250.00 278.40 4.10 USD Billion [+]
GDP Constant Prices 38311.18 38048.90 38311.18 13802.00 CLP Billion [+]
Gross National Product 141633.98 141794.36 141794.36 66182.23 CLP Billion [+]
Gross Fixed Capital Formation 8085.14 7574.16 1486680.24 7348.67 CLP Billion [+]
GDP per capita 15059.53 14958.56 15059.53 3806.81 USD [+]
GDP per capita PPP 22767.04 22614.39 22767.04 8991.85 USD [+]
GDP From Agriculture 955.87 1930.57 1984.19 193.80 CLP Billion [+]
GDP From Construction 2297.53 2119.67 2786.62 1102.60 CLP Billion [+]
GDP From Manufacturing 4084.72 3937.48 4084.72 1858.80 CLP Billion [+]
GDP From Mining 3669.15 3677.51 4135.49 2233.20 CLP Billion [+]
GDP From Public Administration 1742.26 1725.23 1762.31 721.60 CLP Billion [+]
GDP From Services 3744.57 3447.40 3884.35 2705.90 CLP Billion [+]
GDP From Transport 1889.13 1914.25 2666.14 708.90 CLP Billion [+]
GDP From Utilities 1002.96 1047.43 1088.74 532.40 CLP Billion [+]


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. This page provides - Chile GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Chile GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
5.30 4.30 9.50 -3.90 1997 - 2018 percent Quarterly
2013=100




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India 8.20 Jun/18
China 6.50 Sep/18
Turkey 5.20 Jun/18
Indonesia 5.17 Sep/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
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Mexico 2.60 Sep/18
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Spain 2.50 Sep/18
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Euro Area 1.70 Sep/18
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Germany 1.10 Sep/18
Brazil 1.00 Jun/18
Italy 0.80 Sep/18
South Africa 0.40 Jun/18
Japan 0.30 Sep/18
Argentina -4.20 Jun/18


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