Chile GDP Annual Growth Rate  1987-2016 | Data | Chart | Calendar

The Chilean economy expanded 1.5 percent year-on-year in the second quarter of 2016, slowing from an upwardly revised 2.2 percent growth in the previous period but beating market expectations of a 1.1 percent gain. Yet, it is the lowest growth rate since the third quarter of 2014, due to a slowdown in private spending and a drag in inventories. GDP Annual Growth Rate in Chile averaged 5.15 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. GDP Annual Growth Rate in Chile is reported by the Banco Central de Chile.

Chile GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
1.50 2.20 16.15 -4.07 1987 - 2016 percent Quarterly
2008=100
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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-18 11:50 AM Q4 1.3% 2.2% 1.60% 1.8%
2016-05-18 12:30 PM Q1 2% 1.3% 1.8% 1%
2016-08-18 11:30 AM Q2 1.5% 2.2% 1.1% 1.7%
2016-11-18 11:30 AM Q3 1.5% 1.4%

Chile Annual GDP Growth Slows to Nearly 2-Year Low in Q2


The Chilean economy expanded 1.5 percent year-on-year in the second quarter of 2016, slowing from an upwardly revised 2.2 percent growth in the previous period but beating market expectations of a 1.1 percent gain. Yet, it is the lowest growth rate since the third quarter of 2014, due to a slowdown in private spending and a drag in inventories.

Private spending went up at a slower 1.7 percent (2.6 percent in Q1) while government consumption accelerated (7 percent from 4.4 percent in Q1). Gross fixed capital formation increased 2.7 percent, better than a 1.1 percent rise in Q1 due to investment in machinery and equipment (up 9.7 percent from 1 percent in Q1) while construction investment shrank 0.2 percent (+1.2 percent in Q1). In addition, inventories declined and weighed down on the growth for the third consecutive period. Exports grew at a faster 1.2 percent (0.9 percent in Q1), boosted by sales of manufacturing and agricultural products while mining shipments fell, mainly copper. Imports increased 0.6 percent, following a 3.2 percent drop in Q1. 

On the production side, growth was mainly boosted by personal services (up 6 percent compared to 4.7 percent in Q1), internal trade (up 5 percent compared to 4.1 percent in Q1), transportation (up 4.8 percent compared to 4.3 percent in Q1), financial services (4.1 percent, the same as in Q1) and public administration (up 4.1 percent compared to 3.7 percent in Q1), which offset falls in mining (-5.5 percent compared to -1.9 percent in Q1), manufacturing (-1 percent compared to -0.5 percent in Q1) and construction output (-0.1 percent compared to1.1 percent in Q1). 

Considering the first half of the year, the economy expanded 1.9 percent.

On a quarterly basis, the economy shrank 0.4 percent, the first contraction since 2010, dragged down mainly by a 6 percent decline in copper production as lower international prices keep hurting the sector.  Yet, copper accounts for around 15 percent of the country’s GDP and about two-thirds of it is exported. 

Joana Taborda | joana.taborda@tradingeconomics.com
8/18/2016 1:29:53 PM

Chile GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.40 1.10 4.30 -2.70 percent [+]
GDP Annual Growth Rate 1.50 2.20 16.15 -4.07 percent [+]
GDP 240.22 258.73 277.08 4.20 USD Billion [+]
GDP Constant Prices 30020133.00 30128467.00 30128467.00 13801624.00 CLP Million [+]
Gross National Product 115136572.00 112087500.00 115136572.00 86852020.00 CLP Million [+]
Gross Fixed Capital Formation 6954106.00 7019343.00 8269099.00 2394423.00 CLP Million [+]
GDP per capita 14626.20 14479.76 14626.20 3630.39 USD [+]
GDP per capita PPP 22145.09 21923.39 22145.09 9244.16 USD [+]
GDP From Agriculture 641284.90 1269586.70 1269586.70 193766.20 CLP Million [+]
GDP From Construction 2096369.30 2108558.90 2108558.90 1102627.20 CLP Million [+]
GDP From Manufacturing 2879378.50 2984073.20 3024290.30 1858756.10 CLP Million [+]
GDP From Mining 3399703.70 3374967.50 3729053.30 2233159.40 CLP Million [+]
GDP From Public Administration 1253524.00 1234772.30 1253524.00 721600.70 CLP Million [+]
GDP From Services 3652086.10 3666733.10 3809813.30 2705949.10 CLP Million [+]
GDP From Transport 2253456.10 2311449.10 2314305.70 708888.20 CLP Million [+]
GDP From Utilities 1006596.60 997696.50 1223420.80 532399.40 CLP Million [+]




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