News

Chile Economy Shrinks Slightly Less than Expected
The economy of Chile shrank 9.1% year-on-year in the third quarter of 2020, following an upwardly revised record 14.5% slump in the previous period and compared with market expectations of a 9.2% drop. It was the second consecutive contraction amid the coronavirus crisis. Output shrank less in manufacturing (-4% vs -11.8% in Q2); restaurant & hotels (-43.2% vs -52.1%); transport (-28.6% vs -33.6%); personal services (-18.6% vs -29.5%); real estate (-4.4% vs -5.6%); business services (-7.6% vs -10.3%); construction (-29.6% vs -20.6%); utilities (-0.6% vs -3.3%) and agriculture (-3.2% vs -5.7%). Additionally, trade output stalled, after plunging 20.8%; while public administration expanded 2.4%, the same as in Q2. In contrast, output shrank in mining (-1% vs 1.5%), mainly due to copper (-0.9% vs 1.1%); and financial services (-0.2% vs 3.1%). On a seasonally adjusted quarterly basis, the economy grew 5.2%, recovering from an upwardly revised record 13.5% contraction in the previous period.
Published on 2020-11-18

Chile Economy Shrinks the Most on Record
The economy of Chile shrank 14.1 percent year-on-year in the second quarter of 2020, after growing a downwardly revised 0.2 percent in the previous period and compared with market expectations of a 13.1 percent slump. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. Output plunged in manufacturing (-10.6% vs 0.8% in Q1); construction (-20.4% vs 5.5%); real estate (-5.3% vs 1.4%); business services (-9.5% vs 2%); and utilities (-3.1% vs 1.8%). Also, production shrank further in restaurant & hotels (-52.8% vs -6.7%); trade (-20.6% vs -1.6%); transport (-34.4% vs -3.3%); personal services (-27.9% vs -6%); and agriculture (-6% vs -3.5%). In addition, growth slowed in mining (1.6% vs 5.3%), namely copper (1.1% vs 3.7%); public administration (2.4% vs 4.3%); and financial services (2.7% vs 5.9%). On a seasonally adjusted quarterly basis, the economy contracted 13.2 percent, the most on record, following a 3 percent expansion in the prior quarter.
Published on 2020-08-18

Chile Economy Recovers in Q1
The economy of Chile grew 0.4 percent year-on-year in the first quarter of 2020, after shrinking 2.1 percent in the previous session and beating market expectations of a 0.1 percent contraction. Output rebounded in mining (5.1% vs -2% in Q4 2019), namely copper (3.5% vs -2.7%); manufacturing (1.1% vs -1%); trade (-1.7 % vs -4.8%); real estate (1.2% vs -0.5%); and utilities (1.2% vs -3.2%). Additionally, output growth accelerated in construction (5.3% vs 5%); public administration (3.7% vs 2.4%); business services (1.8% vs 0.7%); and financial services (6.5% vs 5.8%). Meanwhile, output shrank further in restaurant & hotels (-6.5% vs -5.4%); and fishing (-10.6% vs -6%). On a seasonally adjusted quarterly basis, the economy advanced 3 percent, recovering from a 4.1 percent contraction in the prior period and above forecasts of a 2.7 percent growth.
Published on 2020-05-18

Chile Economy Shrinks for 1st time in Nearly 3 Years
The economy of Chile shrank 2.1% year-on-year in Q4 2019, after expanding an upwardly revised 3.4% in the prior period and compared with forecasts of a 1.9% decline. It was the first contraction since Q1 2017, amid domestic violent unrest which began on October over a hike in metro fares. Mining production fell further (-2% vs -1% in Q3), namely copper (-2.7% vs 1.1%); and output shrank in manufacturing (-1% vs 2.7%); trade (-4.8% vs 2%); transport (-3.8% vs 4.6%); restaurant & hotels (-5.4% vs 5.9%); personal services (-11.3% vs 4.7%); real estate (-0.5% vs 2.4%); utilities (-3.2% vs 1.2%); agriculture (-1.9% vs 1.6%); and fishing (-6% vs 1.1%). Also, output growth slowed in construction (5% vs 6.5%); communications (0.7% vs 2.2%); public administration (2.4% vs 2.7%); and business services (0.7% vs 4.1%). On a seasonally adjusted quarterly basis, the economy shrank 4.1%, following an upwardly revised 0.8% growth in Q3. Considering full 2019, the GDP expanded 1.1%.
Published on 2020-03-18

Chile Economy Expands 3.3% in Q3
The economy of Chile advanced 3.3 percent year-on-year in the third quarter of 2019, following a 1.9 percent expansion in the previous period. Growth was mainly driven by the mining sector, manufacturing and services activities, in particular personal services and business. On the expenditure side, household consumption advanced at a faster pace and fixed investment rose due to construction and machinery & equipment. On a seasonally adjusted quarterly basis, the economy grew 0.7 percent, the same pace as in the prior quarter.
Published on 2019-11-18

Chile Q2 GDP Growth Beats Forecasts
The economy of Chile grew 1.9 percent year-on-year in the second quarter of 2019, following a 1.6 percent expansion in the previous period and beating market expectations of 1.8 percent. Growth was mainly boosted by the services sector namely personal services, real estate and business while the mining sector recovered after shrinking in the first quarter. On a seasonally adjusted quarterly basis, the economy advanced 0.8 percent, after stalling in the prior quarter.
Published on 2019-08-19

Chile Q1 GDP Growth Weakest in Nearly 2 Years
The economy of Chile advanced 1.6 percent year-on-year in the first quarter of 2019, easing from a 3.6 percent expansion in the previous period and missing market expectations of 1.8 percent. It was the weakest growth rate since the second quarter of 2017, as mining; fishing and agricultural activity shrank. On a seasonally adjusted quarterly basis, the economy showed no growth, after expanding 1.3 percent in the prior quarter.
Published on 2019-05-20

Chile GDP Growth Beats Forecasts in Q4
The economy of Chile advanced 3.6 percent year-on-year in the fourth quarter of 2018, following a downwardly revised 2.6 percent growth in the previous period and beating market expectations of a 2.9 percent expansion. Growth was mainly driven by a rebound in mining activity. On a seasonally adjusted quarterly basis, the gross domestic product expanded 1.3 percent, after a downwardly revised 0.2 percent gain in the prior quarter. Considering full 2018, the economy grew 4.0 percent.
Published on 2019-03-18

Chile GDP Grows 2.8% YoY in Q3, Lowest in a Year
The economy of Chile advanced 2.8 percent year-on-year in the third quarter of 2018, slower than an upwardly revised 5.4 percent expansion in the previous period which was the strongest increase since 2012. Figures came slightly below market expectations of a 2.9 percent advance, pointing to the slowest growth since the third quarter of 2017. Household consumption, government spending and exports increased at a softer pace. Among economic activities, weaker growth was widespread, and the mining sector contracted.
Published on 2018-11-19

Chile Annual GDP Growth Strongest in Near 6 Years
The economy of Chile advanced 5.3 percent year-on-year in the second quarter of 2018, faster than an upwardly revised 4.3 percent expansion in the previous period and beating market consensus of a 4.0 percent rise. It was the strongest growth since the third quarter of 2012, as fixed investment, household spending and government spending increased sharply. Among economic activities, the manufacturing and trade sectors were the main contributors to growth. On a seasonally adjusted quarterly basis, the gross domestic product expanded 0.7 percent compared to a 1.2 percent rise in the first quarter of 2018.
Published on 2018-08-20

Chile Q1 Annual GDP Growth Strongest Since 2013
The gross domestic product of Chile expanded 4.2 percent year-on-year in the first quarter of 2018, quickening from a 3.3 percent advance in the previous period and slightly above market expectations of a 4.0 percent growth. It was the fastest expansion since the third quarter of 2013, as household spending, fixed investment and exports rose significantly. Among economic activities, the mining sector was the main contributor to growth. On a seasonally adjusted quarterly basis, the Chilean economy advanced 1.2 percent, above an upwardly revised 0.7 percent rise in the fourth quarter of 2017 and beating market expectations of a 1 percent growth.
Published on 2018-05-18

Chile Economy Grows the Most Since 2013 in Q4
The gross domestic product of Chile advanced 3.3 percent year-on-year in the fourth quarter of 2017, following an upwardly revised 2.5 percent rise in the prior period and beating market expectations of a 2.9 percent growth. It was the fastest expansion since the third quarter of 2013, as household spending increased faster and fixed investment rebounded. Considering whole 2017, the economy grew 1.5 percent compared to 1.3 percent in 2016. Still, growth was among the lowest since the 2009 global economic crisis.
Published on 2018-03-19

Chile GDP Growth at 1-1/2-Year High in Q3
The economy of Chile advanced 2.2 percent year-on-year in the third quarter of 2017, following an upwardly revised 1 percent growth in the previous period and matching market consensus. It was the strongest expansion since the first quarter of 2016, as household spending rose faster and exports rebounded while investment fell less.
Published on 2017-11-20

Chile GDP Advances 0.9% YoY in Q2
The economy of Chile expanded 0.9 percent year-on-year in the second quarter of 2017, following a meager 0.1 percent growth in the previous period which was the lowest since the 2009 recession. Figures came in line with market expectations as a stronger household spending was able to offset falls in investment and exports.
Published on 2017-08-18

Chile Annual GDP Growth Lowest Since 2009 In Q1
The Chilean economy advanced 0.1 percent year-on-year in the first quarter of 2017, easing from a 0.5 percent expansion in the previous period and slightly below market expectations of 0.2 percent. It is the lowest growth rate since the 2009 recession as private consumption slowed and exports shrank further after a six-week strike at the world's biggest copper mine caused a 14.4 percent slump in copper production.
Published on 2017-05-18

Chile 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. 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.
Published on 2017-03-20

Chile Annual GDP Growth Beats Estimates at 1.6%
The Chilean economy advanced 1.6 percent year-on-year in the third quarter of 2016, the same as an upwardly revised 1.6 percent expansion in the previous period and better than market expectations of 1.4 percent. Household spending accelerated while investment contracted for the first time this year. External trade also contributed positively to growth as imports shrank. On a quarterly basis, the economy expanded 0.6 percent, recovering from a 0.4 percent contraction in the previous three months.
Published on 2016-11-18

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.
Published on 2016-08-18

Chile GDP Growth Accelerates to 2% in Q1
The Chilean economy advanced 2 percent year-on-year in the first quarter of 2016, accelerating from a 1.3 percent growth in the previous period. The figure came in better than an expected 1.8 percent expansion, mainly boosted by a net rise in exports. On a quarterly basis, the GDP grew 1.3 percent, following a meager 0.1 percent expansion in the previous period.
Published on 2016-05-18

Chile GDP Growth Slows in Q4
The Chilean economy advanced 1.3 percent year-on-year in the fourth quarter of 2015, slowing from a 2.2 percent growth rate in the previous period and lower than market expectations of a 1.6 percent increase. It is the lowest performance since the 2009 recession. On a quarterly basis, the GDP expanded 0.1 percent, lower than a downwardly revised 0.3 percent increase in the previous period.
Published on 2016-03-18