Chile GDP Growth Rate

The Gross Domestic Product (GDP) in Chile contracted 0.10 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Chile is reported by the Banco Central de Chile. GDP Growth Rate in Chile averaged 0.95 Percent from 1997 until 2013, reaching an all time high of 4.30 Percent in the second quarter of 2010 and a record low of -2.70 Percent in the fourth quarter of 1998. Chile is one of Latin America´s fastest growing economies and has one of the highest GDP per capita in the region. From 1997 to 2012, Chile has been expanding at an average growth rate of 1 percent, on a quarter over quarter basis, mostly due to rise in exports. Chile is the world´s largest producer and exporter of copper. More recently, Chile has been diversifying its industrial base and it has become a success case in the production of salmon and wine. This page provides - Chile GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-0.10 1.60 4.30 -2.70 0.25 | 2014/06 1997 - 2013 Percent Quarterly
2008=100

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Chile GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-20 01:30 PM Chile
GDP Growth Rate QoQ
Q1 2013 0.5% 1.5%
2013-08-19 01:30 PM Chile
GDP Growth Rate QoQ
Q2 2013 0.5% 0.8% (R) 1.16%
2013-11-18 11:30 AM Chile
GDP Growth Rate QoQ
Q3 2013 1.3% 0.3% (R) 0.95%
2014-03-18 11:30 AM Chile
GDP Growth Rate QoQ
Q4 2013 -0.1% 1.6% (R) 1.5%
2014-05-19 12:00 PM Chile
GDP Growth Rate QoQ
Q1 2014 -0.1% 0.54%
2014-08-18 12:00 PM Chile
GDP Growth Rate QoQ
Q2 2014 0.25%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 28732465.00 2013-11-15 28755413.00 28755413.00 224.40 29596211.18 2014-06-30 CLP Million [+]
Gross Fixed Capital Formation 7219327.00 2013-11-15 7524481.00 8347918.00 2950910.00 6793205.05 2014-06-30 CLP Million [+]
Gross National Product 109100397.00 2013-06-30 104446498.00 109100397.00 86882862.00 113296369.69 2014-06-30 CLP Million [+]
GDP per capita 9447.08 2012-12-31 9030.74 9447.08 2479.19 10073.50 2014-06-30 USD [+]
GDP per capita PPP 15847.55 2012-12-31 15149.13 15847.55 4861.79 16898.37 2014-06-30 USD [+]
GDP Annual Growth Rate 2.70 2013-12-31 5.00 16.15 -4.07 3.31 2014-06-30 Percent [+]
GDP Growth Rate -0.10 2013-12-31 1.60 4.30 -2.70 0.25 2014-06-30 Percent [+]
GDP 268.00 2012-12-31 251.00 268.00 4.20 299.28 2014-06-30 USD Billion [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.
Chile GDP Growth Slows to 2.7% YoY in Q4  
Chile's economy advanced 2.7 percent in the fourth quarter of 2013 compared with a year earlier, the slowest expansion in three-and-a-half years, hurt by a sharp fall in investment. For full 2013, the GDP grew at a lower 4.1 percent, down from 5.6 percent in 2012.
Bank of Chile Lowers Interest Rate to 4%  
Bank of Chile cut its benchmark interest rate by 25 bps to 4 percent on March 13th. The key rate stands now at its lowest level in three years.
Bank of Chile Cuts Rate by 25 bps  
At its February 18th, 2014 meeting, the Central Bank of Chile decided to lower the benchmark interest rate to 4.25 percent from 4.5 percent, as the economy continues to lose strength.
Bank of Chile Leaves Rate Unchanged in January  
At its January 16th, 2014 meeting, the Board of the Central Bank of Chile decided to leave the benchmark interest rate unchanged at 4.5 percent. The Board also said that in the coming months it might be necessary to increase the monetary stimulus.
Chile Monetary Policy Unchanged in December  
In its December 12th meeting, Chile's central bank left the monetary policy interest rate on hold at 4.5 percent, following two consecutive cuts. Yet, policymakers pointed that the economy is losing strenght.
Bank of Chile Cuts Interest Rate to 4.5%  
The Board of the Central Bank of Chile decided on November 19th to lower the monetary policy interest rate by 25 basis points to 4.5 percent. The Board cited a slowdown in domestic demand and low inflation.
Chilean Economy Expands 4.7% YoY in Q3  
In the third quarter of 2013, Chile’s GDP expanded 4.7 percent over a year earlier, up from a revised 4 percent in the previous quarter. The expansion was mainly boosted by mining and agriculture.
Bank of Chile Cuts Benchmark Interest Rate to 4.75%  
The Board of the Central Bank of Chile decided on October 17th to lower the monetary policy interest rate by 25 basis points, to 4.75 percent to stimulate easing economic growth. Central Bank of Chile cited gloomier global economic outlook, and decelerating domestic demand.
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The Board of the Central Bank of Chile decided on September 12th to leave the monetary policy interest rate unchanged at 5 percent, as the inflation rate remains within the tolerance range.
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