Chile | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Chile including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Chile economy.

Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate -0.40 0.6 0.7 0.9 1.1 1.5 percent [+]
Unemployment Rate 6.40 6.7 6.8 6.4 6.6 6.9 percent [+]
Inflation Rate 2.70 3.1 2.8 2.6 2.8 3 percent [+]
Interest Rate 2.75 2.75 2.75 2.75 2.75 5 percent [+]
Balance of Trade 290.30 600 450 350 600 700 USD Million [+]
Government Debt to GDP 17.50 17.84 18.6 19.36 19.69 20.07 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 653.25 666 673 693 686 792 [+]
Stock Market 24442.50 23700 23500 22800 23000 19200 points [+]
Government Bond 10y 3.93 4.06 4.1 4.14 4.18 4.82 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate -0.40 0.6 0.7 0.9 1.1 1.5 percent [+]
GDP Annual Growth Rate 0.50 1.6 1.8 2.1 1.1 2 percent [+]
GDP 240.80 241 241 241 228 295 USD Billion [+]
GDP Constant Prices 36477.00 36954 37204 37466 37728 40593 CLP Billion [+]
Gross National Product 141794.36 80981323 84952204 88923084 90325206 106145728 CLP Million [+]
Gross Fixed Capital Formation 8813.00 6982600 7054300 7154530 7354200 7457220 CLP Billion [+]
GDP per capita 14660.51 14940 14838 14880 14915 15365 USD [+]
GDP per capita PPP 22197.04 22645 22645 22645 22507 24500 USD [+]
GDP From Agriculture 953.50 966 966 966 966 966 CLP Billion [+]
GDP From Construction 2705.10 2701 2436 2698 2440 2677 CLP Billion [+]
GDP From Manufacturing 3802.70 3781 3766 3787 3781 3780 CLP Billion [+]
GDP From Mining 3897.10 3713 3660 3835 3502020 3766 CLP Billion [+]
GDP From Public Administration 1733.90 1740 1752 1743 1753 1744 CLP Billion [+]
GDP From Services 3752.50 3751 3577 3750 3579 3744 CLP Billion [+]
GDP From Transport 3129.20 3105 3092 3148 3097 3140 CLP Billion [+]
GDP From Utilities 1005.70 918 940 982 943 957 CLP Billion [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 6.40 6.7 6.8 6.4 6.6 6.9 percent [+]
Employed Persons 8191.92 8128 8131 8137 8136 8136 Thousand [+]
Unemployed Persons 557.95 565 575 535 550 570 Thousand [+]
Employment Rate 55.60 55.21 55.34 55.41 55.39 55.37 percent [+]
Labor Force Participation Rate 59.38 59.3 59.32 59.3 59.31 59.31 percent [+]
Job Vacancies 21.30 22.54 21.93 21.57 21.39 21.23 Index Points [+]
Wages 4023.33 4102 4154 4206 4258 4831 CLP/Hour [+]
Wages in Manufacturing 152.27 155 156 158 160 177 Index Points [+]
Minimum Wages 265000.00 250000 261854 276000 278056 295000 CLP/Month [+]
Population 18.19 18.1 18.14 18.19 18.19 18.94 Million [+]
Retirement Age Women 60.00 60 60 60 60 60 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Living Wage Family 521764.60 532162 532169 532169 532169 532170 CLP/Month [+]
Living Wage Individual 407760.50 413618 414717 414333 414467 414432 CLP/Month [+]
Wages Low Skilled 383200.00 352368 348479 345472 343148 335693 CLP/Month [+]
Wages High Skilled 1210400.00 1182337 1179393 1177260 1175714 1171760 CLP/Month [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 2.70 3.1 2.8 2.6 2.8 3 percent [+]
Consumer Price Index CPI 115.20 116 117 118 119 128 Index Points [+]
Core Consumer Prices 115.85 117 118 119 119 128 Index Points [+]
Core Inflation Rate 2.20 4.2 1.87 3.8 1.79 3 percent [+]
Export Prices 83.90 81.72 81.96 82.01 81.89 81.85 Index Points [+]
Import Prices 83.85 83.76 83.33 84.74 86.33 84.87 Index Points [+]
Food Inflation 3.70 3.67 3.64 3.64 3.64 3.64 percent [+]
Producer Prices 105.59 105 106 107 108 110 Index Points [+]
Producer Prices Change 7.60 7.47 7.49 7.48 7.48 7.48 percent [+]
Cpi Transportation 107.08 107 107 107 107 107 Index Points [+]
Inflation Rate Mom 0.40 0.6 0.4 0.2 0.3 0.6 percent [+]
Gdp Deflator 137.70 140 143 145 147 156 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 2.75 2.75 2.75 2.75 2.75 5 percent [+]
Interbank Rate 2.97 2.96 2.86 2.84 2.84 2.84 percent [+]
Money Supply M1 29400.76 30056 30628 31152 31674 37328 CLP Billion [+]
Money Supply M2 106055.01 107997 109714 111420 113118 131288 CLP Billion [+]
Money Supply M3 189487.57 193598 197393 201077 204723 244065 CLP Billion [+]
Foreign Exchange Reserves 38597.20 38333 38227 38261 38225 38242 USD Million [+]
Banks Balance Sheet 115004.00 118304 119954 121551 123090 136772 CLP Million [+]
Loans to Private Sector 87862.00 88999 90044 91106 92160 102897 CLP Billion [+]
Deposit Interest Rate 3.60 4.15 4.05 3.94 3.96 4 percent [+]
Private Debt to GDP 198.79 197 197 196 196 195 percent [+]
Central Bank Balance Sheet 25243.00 25560 25524 25508 25500 25498 CLP Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 290.30 600 450 350 600 700 USD Million [+]
Exports 5504.50 4100 4400 4300 4600 6000 USD Million [+]
Imports 5214.20 4700 4850 4650 4000 5300 USD Million [+]
Current Account -700.00 -514 -1580 -475 544 -408 USD Million [+]
Current Account to GDP -1.40 -1.78 -1.94 -2.1 -2.07 -2.01 percent [+]
External Debt 165101.03 165132 165132 165133 165133 165133 USD Million [+]
Capital Flows 433.01 -1794 -1422 5.79 -672 -787 USD Million [+]
Remittances 923.00 979 1019 1059 1044 1139 USD Million [+]
Gold Reserves 0.25 0.25 0.25 0.25 0.25 0.25 Tonnes [+]
Terms Of Trade 111.50 111 110 109 109 110 Index Points [+]
Terrorism Index 2.70 2.95 2.69 2.43 2.43 2.44 [+]
Foreign Direct Investment -230.79 -1260 -846 -770 -1478 -1105 USD Million [+]
Crude Oil Production 4.00 4.1 4.09 4.09 4.09 4.09 BBL/D/1K [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 17.50 17.84 18.6 19.36 19.69 20.07 percent [+]
Government Budget -2.20 -0.7 -0.78 -0.87 -0.52 1.19 percent of GDP [+]
Government Budget Value -9376.20 -470308 -247174 -372342 -446399 -460069 CLP Million [+]
Government Spending 5367.00 5366 4823 5366 4823 5363 CLP Billion [+]
Government Revenues 2895580.00 2996101 2995243 2997544 2998951 2999718 CLP Million [+]
Fiscal Expenditure 2904956.21 3590637 3486717 3462586 3455133 3453017 CLP Million [+]
Military Expenditure 5070.80 5172 5139 5106 5116 5261 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 45.12 45.06 45.08 45.08 45.08 45.08 [+]
Industrial Production -7.60 -3.43 -3.94 -4.11 -4.13 -4.1 percent [+]
Industrial Production Mom -0.20 -0.25 0.14 0.03 0.05 0.05 percent [+]
Manufacturing Production -1.00 -1.17 -1.18 -1.16 -1.15 -1.15 percent [+]
Changes in Inventories -1682.00 -1678 -755 -1674 -759 -1649 CLP Billion [+]
Total Vehicle Sales 29639.00 27745 27492 27480 27479 27459 [+]
Leading Economic Index -1.30 -0.12 -0.21 -0.24 -0.24 -0.24 percent [+]
Mining Production -16.00 -7.35 -7.71 -7.98 -7.81 -7.85 percent [+]
Steel Production 90.00 95.56 95.83 95.93 95.93 95.98 Thousand Tonnes [+]
Ease of Doing Business 57.00 56 57 57 57 57 [+]
Competitiveness Index 4.64 4.59 4.59 4.59 4.69 4.76 Points [+]
Competitiveness Rank 33.00 35 35 35 33 33 [+]
Copper Production 376.90 476 444 458 449 452 Thousands of Tonnes [+]
Corruption Index 66.00 69 68 68 69 75 Points [+]
Corruption Rank 24.00 23 24 25 25 23 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 37.00 36.83 36.84 37.61 36.82 36.82 [+]
Retail Sales MoM -4.90 1.13 0.94 0.83 0.72 0.79 percent [+]
Retail Sales YoY -0.30 1.22 1.04 0.99 0.97 0.96 percent [+]
Consumer Spending 24338.00 23476 23393 24661 23823 24871 CLP Billion [+]
Consumer Credit 20261.00 20841 21211 21549 21879 24627 CLP Billion [+]
Private Sector Credit 137643.01 142054 144244 146416 148570 171088 CLP Billion [+]
Bank Lending Rate 8.18 8.12 8.02 8.01 8.02 8.03 percent [+]
Gasoline Prices 1.15 1.17 1.18 1.19 1.2 1.22 USD/Liter [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Housing Index 167.70 164 163 161 160 155 Index points [+]
Housing Starts 8398.00 10762 10718 10700 10700 10700 [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 24.00 23.02 23.56 24.1 24.08 24.04 percent [+]
Personal Income Tax Rate 40.00 40 40 40 40 40 percent [+]
Sales Tax Rate 19.00 19 19 19 19 19 percent [+]
Social Security Rate 7.00 7 7 7 7 7 percent [+]
Social Security Rate For Employees 7.00 7 7 7 7 7 percent [+]