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 0.20 0.6 0.7 0.9 1.1 1.5 percent [+]
Unemployment Rate 6.60 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 2.50 2.5 2.5 2.5 2.5 5 percent [+]
Balance of Trade 507.10 600 450 350 600 700 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 674.52 666 673 693 686 792 [+]
Stock Market 24270.25 23700 23500 22800 23000 19200 points [+]
Government Bond 10y 4.06 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 0.20 0.6 0.7 0.9 1.1 1.5 percent [+]
GDP Annual Growth Rate 0.10 1.6 1.8 2.1 1.1 2 percent [+]
GDP 240.80 241 241 241 228 295 USD Billion [+]
GDP Constant Prices 36545.00 36780 37019 37267 37521 40317 CLP Billion [+]
Gross National Product 141794.36 80981323 84952204 88923084 90325206 106145728 CLP Million [+]
Gross Fixed Capital Formation 7244.45 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 2020.80 1077 1106 1105 1105 1105 CLP Billion [+]
GDP From Construction 2045.66 2403 2049 2400 2052 2382 CLP Billion [+]
GDP From Manufacturing 3864.23 3856 3832 3851 3864 3858 CLP Billion [+]
GDP From Mining 3233.60 3341 3320 3577 3502020 3353 CLP Billion [+]
GDP From Public Administration 1703.43 1696 1706 1695 1702 1695 CLP Billion [+]
GDP From Services 3489.81 3679 3491 3678 3492 3671 CLP Billion [+]
GDP From Transport 2998.51 3027 3018 3073 3000 3048 CLP Billion [+]
GDP From Utilities 975.58 950 963 997 977 980 CLP Billion [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 6.60 6.7 6.8 6.4 6.6 6.9 percent [+]
Employed Persons 8195.02 8186 8186 8191 8189 8189 Thousand [+]
Unemployed Persons 580.08 565 575 535 550 570 Thousand [+]
Employment Rate 55.53 55.34 55.45 55.49 55.48 55.47 percent [+]
Labor Force Participation Rate 59.47 59.45 59.49 59.46 59.48 59.47 percent [+]
Job Vacancies 21.60 21.22 20.43 20 19.79 19.6 Index Points [+]
Wages 4023.33 4102 4154 4206 4258 4831 CLP/Hour [+]
Wages in Manufacturing 153.89 156 157 159 161 181 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 High Skilled 1210400.00 1182337 1179393 1177260 1175714 1171760 CLP/Month [+]
Wages Low Skilled 383200.00 352368 348479 345472 343148 335693 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 115.48 116 117 118 119 127 Index Points [+]
Core Consumer Prices 116.17 117 118 118 119 128 Index Points [+]
Core Inflation Rate 2.20 4.2 2.01 3.8 1.95 3 percent [+]
Export Prices 85.50 87.73 88.17 87.89 87.73 87.92 Index Points [+]
Import Prices 87.69 85.29 84.67 85.77 87.68 86.26 Index Points [+]
Food Inflation 4.20 4.2 4.17 4.18 4.18 4.18 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 107.03 107 107 107 107 107 Index Points [+]
Inflation Rate Mom 0.20 0.6 0.4 0.2 0.3 0.6 percent [+]
Gdp Deflator 118.90 119 119 119 119 119 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 2.50 2.5 2.5 2.5 2.5 5 percent [+]
Interbank Rate 2.91 2.94 2.84 2.82 2.81 2.81 percent [+]
Money Supply M1 30208.26 30324 30972 31515 32060 38008 CLP Billion [+]
Money Supply M2 106784.24 107894 109600 111295 112982 131031 CLP Billion [+]
Money Supply M3 187340.34 188719 189669 189487 190362 191034 CLP Billion [+]
Foreign Exchange Reserves 38951.50 38658 38618 38683 38644 38669 USD Million [+]
Banks Balance Sheet 114636.00 117103 118422 119695 120906 130967 CLP Million [+]
Loans to Private Sector 88481.00 89537 90683 91829 92963 104620 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 26898.00 26532 26905 27170 27383 28434 CLP Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 507.10 600 450 350 600 700 USD Million [+]
Exports 5019.00 4100 4400 4300 4600 6000 USD Million [+]
Imports 4511.88 4700 4850 4650 4000 5300 USD Million [+]
Current Account -1014.06 -2115 -2570 -1333 -1430 -1719 USD Million [+]
Current Account to GDP -1.40 -1.78 -1.94 -2.1 -2.07 -2.01 percent [+]
External Debt 163047.70 163750 163631 163655 163650 163651 USD Million [+]
Capital Flows -2465.82 -2710 -1896 -1156 -2460 -2044 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 -635.41 -1455 -471 -554 -743 -727 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 -504738.70 -426980 -223149 -370043 -424017 -427266 CLP Million [+]
Government Spending 4113.35 4703 4114 4702 4115 4698 CLP Billion [+]
Government Revenues 3318985.40 3086893 3052469 3041641 3039611 3039243 CLP Million [+]
Fiscal Expenditure 3823724.10 3593893 3489105 3464356 3456751 3454560 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 44.11 44.21 44.24 44.24 44.24 44.24 [+]
Industrial Production -8.30 -5.64 -5.99 -6.07 -6.13 -6.13 percent [+]
Industrial Production Mom -0.20 -0.25 0.14 0.03 0.05 0.05 percent [+]
Manufacturing Production 1.90 0.21 -0.27 -0.39 -0.41 -0.39 percent [+]
Changes in Inventories 442.24 -662 438 -658 433 -631 CLP Billion [+]
Total Vehicle Sales 24675.00 27361 27069 27180 27311 27532 [+]
Leading Economic Index 0.20 0.13 0 -0.02 -0.02 -0.02 percent [+]
Mining Production -21.40 -11.35 -12.97 -13.09 -12.93 -12.99 percent [+]
Steel Production 100.00 97.58 97.42 97.3 97.27 97.25 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 378.30 474 416 451 429 438 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 40.10 40.06 40.17 37.61 40.16 40.16 [+]
Retail Sales MoM 12.20 1.13 0.94 0.89 0.75 0.81 percent [+]
Retail Sales YoY 4.90 3.71 3.52 3.52 3.53 3.55 percent [+]
Consumer Spending 23236.92 23266 23197 24481 23474 24480 CLP Billion [+]
Consumer Credit 20562.00 20992 21456 21854 22242 25424 CLP Billion [+]
Private Sector Credit 137504.29 140512 142374 144230 146065 164773 CLP Billion [+]
Bank Lending Rate 7.48 7.03 6.76 6.83 6.91 6.93 percent [+]
Gasoline Prices 1.10 1.11 1.11 1.11 1.12 1.12 USD/Liter [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Housing Index 175.60 172 176 174 176 178 Index points [+]
Housing Starts 12780.00 11190 10970 10964 10963 10963 [+]
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 [+]