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%), 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.
GDP Annual Growth Rate in Chile averaged 3.67 percent from 1997 until 2020, 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. 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 August of 2020. source: Banco Central de Chile
GDP Annual Growth Rate in Chile is expected to be -4.80 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 2.00 in 12 months time. In the long-term, the Chile GDP Annual Growth Rate is projected to trend around 3.50 percent in 2021 and 3.00 percent in 2022, according to our econometric models.