The economy of Chile advanced 3.6 percent year-on-year in the fourth quarter of 2018, following a downwardly revised 2.6 percent growth in the previous period and beating market expectations of a 2.9 percent expansion. Growth was mainly driven by a rebound in mining activity. On a seasonally adjusted quarterly basis, the gross domestic product expanded 1.3 percent, after a downwardly revised 0.2 percent gain in the prior quarter. Considering full 2018, the economy grew 4.0 percent. 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.
GDP Annual Growth Rate in Chile is expected to be 2.50 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 3.20 in 12 months time. In the long-term, the Chile GDP Annual Growth Rate is projected to trend around 3.30 percent in 2020, according to our econometric models.