Chile's gross domestic product advanced by a meagre 0.3% year-on-year in the third quarter of 2022, following an upwardly revised 5.6% growth in the previous period and slightly above market expectations of a 0.2% rise. Still, it was the weakest expansion since the first quarter of 2021 when the economy stagnated. Both fixed investment (2.2% vs 7% in Q2) and government spending (4% vs 8.2%) slowed while private consumption declined (-2.8% vs 7.6%). Regarding net external demand, total exports rose by 4.1% (vs -0.5% in Q2), whereas total imports decreased by 2.7% (vs 10.4% in Q2%). On a seasonally adjusted quarterly basis, the economy shrank by 1.2%, the sharpest contraction since the second quarter of 2020, compared with market forecasts of a 1% decline. source: Banco Central de Chile

GDP Annual Growth Rate in Chile averaged 3.75 percent from 1997 until 2022, reaching an all time high of 18.90 percent in the second quarter of 2021 and a record low of -14.20 percent in the second quarter of 2020. This page provides - Chile GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Chile GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.

GDP Annual Growth Rate in Chile is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Chile GDP Annual Growth Rate is projected to trend around -0.50 percent in 2023 and 2.00 percent in 2024, according to our econometric models.

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Chile GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-18 12:30 PM Q2 5.4% 7.4% 5.7% 5.5%
2022-11-18 11:30 AM Q3 0.3% 5.6% 0.2% 1.8%
2023-03-17 11:30 AM Q4 0.3% 0.8%


Related Last Previous Unit Reference
GDP Growth Rate -1.20 0.10 percent Sep 2022
GDP Annual Growth Rate 0.30 5.60 percent Sep 2022

Chile GDP Annual Growth Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
0.30 5.60 18.90 -14.20 1997 - 2022 percent Quarterly
2013=100

News Stream
Chile Q3 GDP Growth at Over 1-1/2-Year Low
Chile's gross domestic product advanced by a meagre 0.3% year-on-year in the third quarter of 2022, following an upwardly revised 5.6% growth in the previous period and slightly above market expectations of a 0.2% rise. Still, it was the weakest expansion since the first quarter of 2021 when the economy stagnated. Both fixed investment (2.2% vs 7% in Q2) and government spending (4% vs 8.2%) slowed while private consumption declined (-2.8% vs 7.6%). Regarding net external demand, total exports rose by 4.1% (vs -0.5% in Q2), whereas total imports decreased by 2.7% (vs 10.4% in Q2%). On a seasonally adjusted quarterly basis, the economy shrank by 1.2%, the sharpest contraction since the second quarter of 2020, compared with market forecasts of a 1% decline.
2022-11-18
Chile Q2 GDP Growth Misses Expectations
Chile's gross domestic product advanced 5.4 percent year-on-year in the second quarter of 2022, following a revised 7.4 percent increase in the previous period and missing market expectations of a 5.7 expansion. Both government spending (6.8 percent vs. 11.2 percent in Q1) and private consumption (7.7 percent vs. 14 percent) slowed, while gross fixed capital formation expanded 7.3 percent, the same as in the previous period. Regarding net trade, Exports declined 0.3 percent (from -1.7 percent in Q1), while imports surged 10.9 percent (from 15.3 percent in Q1). The economy stalled on a seasonally adjusted quarterly basis, following a revised 0.6 percent contraction in the prior quarter.
2022-08-18
Chile Q1 GDP Expands Less than Expected
Chile's gross domestic product advanced 7.2 percent year-on-year in the first quarter of 2022, following a 12 percent increase in the previous period and missing market expectations of a 7.9 expansion. Gross fixed capital formation expanded at a softer rate (8.8 percent vs. 19.9 percent in Q4) while both private consumption (13.9 percent vs. 16.1 percent) and government spending (9.1 percent vs. 11 percent) slowed. Exports declined 1.4 percent (from 0.6 percent in Q4), while imports surged 17.2 percent (from 38.4 percent in Q4). On a seasonally adjusted quarterly basis, the economy contracted 0.8 percent, following a downwardly revised 1.7 percent expansion in the prior quarter.
2022-05-18