Chile GDP Annual Growth Rate  1987-2017 | Data | Chart | Calendar

The Chilean economy advanced 0.5 percent year-on-year in the last quarter of 2016, slowing from an upwardly revised 1.8 percent expansion in the previous period. Government spending eased sharply (1.7 percent vs 7.1 percent in Q3), fixed investment contracted further (-5 percent vs -2.4 percent) and external trade contributed negatively to growth as exports declined 2 percent (from 0.1 percent in Q3) and imports were flat (from -2 percent in Q3). On the positive note, household expenditure grew slightly more (2.4 percent vs 2.3 percent in Q3). On a quarterly basis, the economy contracted 0.4 percent compared to an upwardly revised 0.9 percent expansion in the previous three months. Considering 2016, the Chilean economy expanded 1.6 percent, lower than a 2.3 percent growth in 2015. GDP Annual Growth Rate in Chile averaged 5.09 percent from 1987 until 2016, reaching an all time high of 16.15 percent in the third quarter of 1992 and a record low of -4.07 percent in the second quarter of 1999.

Chile GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-08-18 11:30 AM Q2 1.5% 2.2% 1.1% 1.7%
2016-11-18 11:30 AM Q3 1.6% 1.6% 1.4% 1.4%
2017-03-20 11:30 AM Q4 0.5% 1.8% 1.8%
2017-05-18 12:30 PM Q1 0.5% 1.4%
2017-08-18 11:30 AM Q2 1.6%
2017-11-20 11:30 AM Q3 1.8%




Chile Annual GDP Growth Slows To 0.5% In Q4


The Chilean economy advanced 0.5 percent year-on-year in the last quarter of 2016, slowing from an upwardly revised 1.8 percent expansion in the previous period. It is the lowest growth rate since the 2009 recession as public spending slowed sharply and investment and exports slumped. Considering 2016, the Chilean economy expanded 1.6 percent, lower than a 2.3 percent growth in 2015.

Year-on-year, government spending eased sharply (1.7 percent vs 7.1 percent in Q3), fixed investment contracted further (-5 percent vs -2.4 percent) and external trade contributed negatively to growth as exports declined 2 percent (from 0.1 percent in Q3) and imports were flat (from -2 percent in Q3). On the positive note, household expenditure grew slightly more (2.4 percent vs 2.3 percent in Q3).

On the production side, growth eased for internal trade (3 percent from 3.4 percent in Q3); transport (2 percent from 4.2 percent in Q3); communications (1.7 percent from 2.6 percent in Q3) and personal services (3 percent from 6.1 percent in Q3).Business services declined 3.5 percent (from -2.1 percent in Q3); mining fell 3.3 percent (from -0.8 percent in Q3) driven by lower production of copper (- 3 percent) and manufacturing decreased 2.2 percent (from -0.8 percent in Q3), dragged down by beverages and tobacco (-2.2 percent), chemicals (-4.4 percent) and non-metallic minerals and metals (-8.5 percent). Also, construction edged down 0.2 percent (from 2.2 percent in Q3) and utilities fell sharply (-7.6 percent from -2.8 percent in Q3). In contrast, output rose faster for financial services (2.9 percent from 2.7 percent in Q3); agriculture (8.3 percent from 2 percent in Q3) and fishing (1.6 percent from 0.8 percent in Q3).

On a quarterly basis, the economy contracted 0.4 percent compared to an upwardly revised 0.9 percent expansion in the previous three months.

Considering full 2016, mining production shrank 2.9 percent (after being flat in 2015), mainly due to  copper (-2.7 percent compared to 0.1 percent). Contractions were also recorded in manufacturing (-0.9 percent from 0.2 percent in 2015) and business services (-1.8 percent compared to 1.2 percent). In addition, production slowed in agriculture (4.5 percent compared to 9.8 percent), mainly due to wine; construction (2.5 percent compared to 3.9 percent); financial services (3.7 percent compared to 5.4 percent); transport (3.3 percent compared to 3.7 percent) and restaurants and hotels (0 percent compared to 2.9 percent). In contrast, activities rose faster in internal trade (3.4 percent compared to 2.3 percent), personal services (5.2 percent compared to 1.8 percent) and real estate (2.7 percent compared to 2.2 percent). 

Luisa Carvalho | luisa.carvalho@tradingeconomics.com
3/20/2017 2:27:14 PM



Chile GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.40 0.90 4.30 -2.70 percent [+]
GDP Annual Growth Rate 0.50 1.80 16.15 -4.07 percent [+]
GDP 240.80 258.70 277.10 4.10 USD Billion [+]
GDP Constant Prices 36477.00 36608.00 36608.00 13802.00 CLP Billion [+]
Gross National Product 141794.36 115136572.00 115136572.00 141794.36 CLP Million [+]
Gross Fixed Capital Formation 8813.00 7889.00 9341.00 2394.00 CLP Billion [+]
GDP per capita 14660.51 14479.76 14660.51 3630.39 USD [+]
GDP per capita PPP 22197.04 21923.39 22197.04 9244.16 USD [+]
GDP From Agriculture 953.50 566.30 2021.00 193.80 CLP Billion [+]
GDP From Construction 2705.10 2298.30 2711.90 1102.60 CLP Billion [+]
GDP From Manufacturing 3802.70 3734.60 3930.20 1858.80 CLP Billion [+]
GDP From Mining 3897.10 3676.90 4102.00 2233.20 CLP Billion [+]
GDP From Public Administration 1733.90 1709.40 1733.90 721.60 CLP Billion [+]
GDP From Services 3752.50 3596.60 3887.50 2705.90 CLP Billion [+]
GDP From Transport 3129.20 2970.10 3129.20 708.90 CLP Billion [+]
GDP From Utilities 1005.70 955.50 1088.70 532.40 CLP Billion [+]



Chile GDP Annual Growth Rate Notes

The most important sector of Chilean economy is services. Trade, restaurants and hotels, transport, communications, financial and business services, real estate and personal services account for more than 56 percent of the GDP. Mining constitutes 13 percent of the output with copper representing the biggest part. Manufacturing creates 12 percent of the wealth and construction and water, gas and electricity distribution 11 percent. The government fuels 5 percent of the output and the agriculture and fishing sector accounts for the remaining 3 percent of GDP. This page provides - Chile GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Chile GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 1.80 16.15 -4.07 1987 - 2016 percent Quarterly
2008=100



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