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


Chile GDP Growth Rate

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%

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 [+]

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.


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.
Bank of Chile Leaves Benchmark Interest Rate on Hold at 5%  
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.


South Korean Economy Expands at a Fastest Pace  
In the first quarter of 2014, South Korea’s GDP accelerated for the fourth straight quarter to an annual 3.9 percent growth rate, driven by exports.
South Korea GDP Growth Beats Expectations in Q1  
South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
US Markit Manufacturing PMI Steady in April  
At 55.4 in April, the Markit Flash U.S. Manufacturing PMI was down fractionally from 55.5 in March, but still well above the neutral 50.0 value. Sharper rates of output and new business growth boosted the Manufacturing PMI during April, while the main negative influence on the headline index was a rise in the suppliers’ delivery times component.
Bank of Thailand Leaves Interest Rate Unchanged  
At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
South Africa Inflation Rate Back to 6%  
South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.
Singapore Inflation Rate Edges Up in March  
Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.
Australia Inflation Rate Accelerates Further in Q1  
Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
Mexico Unemployment Rate Up to 4.8% in March  
Mexican unadjusted jobless rate rose to 4.8 percent in March of 2014, up from 4.65 percent in February and 4.51 percent a year earlier. Upon seasonal adjustment, the unemployment rate rose to its highest in more than one year to 5.25 percent.

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