Chile


Chile Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Chile; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Central Bank of Chile
International Reserves US$ 41.944 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 272.119 billion (2011 estimate)
GDP (Purchasing Power Parity) 316.516 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
3.5% 2.2% 4% 6% 5.5% 4.6% 4.6% 3%
2009 2010 2011 2012*
-0.9% 6.1% 5.9% 4.3%

*Estimate

GDP per capita - current prices US$ 15,453 (2009 estimate)
GDP per capita - PPP $17,974 International Dollars (2009 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.28% 0.27% 0.34% 0.37% 0.39%

**Forecast

GDP - composition by sector
  • agriculture: 5.1% 
  • industry: 41.8% 
  • services: 53.1% (2010 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) 0.39% (2008)

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
1.5%(2008) 1.4% 3.3% 3.8%

*Estimate

Unemployment rate
2009 2010 2011 2012*
10.8% 8.2% 7.1%(2009) 6.6%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
4.9% 5.8% 8.6% 9.9% 10.1%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
4.1% -4.1% -0.3% 1.2% -0.3%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: A+

Moody's rating: Aa3

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$209.5 billion US$341.6 billion US$270.3 billion
Largest companies in Chile LAN Airlines (Airline), Quinenco (Conglomerates), Falabella (Department Stores), SQM (Diversified Chemicals), Cencosud (Food Retail), Antarchile (Investment services), CAP (Iron & Steel), Empresas CMPC (Paper & Paper Products), BCI-Banco Credito (Regional Banks) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -6.5 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP -2.4% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

38.7% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.45%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.29% (2011)(2007)

(Data were released in 2012)

Total exports US$83.66 billion (2012 estimate) 
Export commodities copper, fruit, fish products, paper and pulp, chemicals, wine
Total imports US$70.2 billion (2012 estimate) 
Import commodities petroleum and petroleum products, chemicals, electrical and telecommunications equipment, industrial machinery, vehicles, natural gas
Exports - major partners China 22.4%, US 11.3%, Japan 11%, Brazil 5.5%, South Korea 5.4%, Netherlands 4.7% (2011)
Imports - major partners US 20.9%, China 17.9%, Brazil 8.8%, Argentina 6.7%, Japan 4.2% (2011)
FDI inflows
2009 2010 2011
US$12,887 million US$15,373 million(2009) US$17,299 million(2009)
FDI outflows
2009 2010 2011
US$7,233 million US$9,231 million US$11,822 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$-88 million US$55 million(2009) US$642 million(2009) US$1,083 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 37 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 32 out of 185 countries(2009)

Enforcing Contracts: 70 out of 185 countries

Registering Property: 55 out of 185 countries

Getting credit: 53 out of 185 countries

Protecting investors: 32 out of 185 countries

Trading across border: 48 out of 185 countries

Paying Taxes: 36 out of 185 countries

Dealing with Construction Permits: 84 out of 185 countries

Getting Electricity: 40 out of 185 countries

Resolving Insolvency: 98 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
33

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 7 Score: 78.3 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC-4
Total area 756,102 km2 (2006)
Capital Santiago (2009)
Currency Chilean pesos (CLP) (2009)
Government type republic (2009)
Languages Spanish (official), Mapudungun, German, English
Religions Roman Catholic 70%, Evangelical 15.1%, Jehovah's Witness 1.1%, other Christian 1%, other 4.6%, none 8.3% (2002 census)
Total population
1980 1990 2000 2012* 2017**
11.06 million 13.1 million 15.21 million 17.4 million 18.14 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
67.8% 81.2% 85.9% 89.1%
Population median age 32 years (2010)
Population growth rate 0.9% (2011)
Life expectancy 79 years (2010)
Adult literacy 99% (2005/2010)
% of population living on less than $2 a day <2% (2011)
Inequality of wealth distribution (Gini index)

52.06 (2009)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

149.2% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 53.89% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Santiago: 75th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

3.9357 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INSURANCE PROVIDERS

2012:
  • REGIONAL WINNERS / Best Employment Practices Liability Insurer La Segunda (National, 2012)

WORLD'S SAFEST EMERGING MARKETS BANKS

2012:
  • OVERALL SAFEST BancoEstado (LATIN AMERICA/CARIBBEAN, 2012)
  • OVERALL SAFEST Banco de Chile (Latin America, 2012)
  • OVERALL SAFEST Banco Santander Chile (National, 2012)
  • OVERALL SAFEST Banco de Crédito e Inversiones (National, 2012)
  • REGIONAL WINNERS BancoEstado (National, 2012)
  • REGIONAL WINNERS Banco de Chile (National, 2012)
  • REGIONAL WINNERS Banco Santander Chile (National, 2012)
  • REGIONAL WINNERS Banco de Crédito e Inversiones (National, 2012)
  • REGIONAL WINNERS Banco CorpBanca (José De Gregorio, 2012)
  • REGIONAL WINNERS BBVA Chile (National, 2012)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Banco Santander Chile (National, 2013)
2012:
  • COUNTRY WINNERS Banco Santander Chile (Rodrigo Vergara, 2012)
2011:
  • COUNTRY WINNERS Banco Santander Chile (Global, 2011)
2010:
  • COUNTRY WINNERS Banco Santander Chile (Latin America, 2010)
2009:
  • COUNTRY WINNERS Banco Santander Chile (Latin America, 2009)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Corpbanca Chile (Global, 2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks Banco Santander (Latin America, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Web Site Design Banco Santander Chile (Latin America, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Banco Santander (Global, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Corpbanca Chile (Global, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best in Mobile Banking Banco Santander Chile (Global, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Banco Santander (Asia, 2010)
2009:
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Integrated Consumer Bank Site BancoSantander (Zhou Xiaochuan, 2009)
  • COUNTRY WINNERS / Best Consumer Internet Banks Banco Santander (Asia, 2009)

WORLD'S SAFEST BANKS

2013:
  • OVERALL SAFEST BancoEstado (Global, 2013)
  • OVERALL SAFEST Banco de Chile (Global, 2013)
  • REGIONAL WINNERS BancoEstado (Latin America, 2013)
  • REGIONAL WINNERS Banco de Chile (Latin America, 2013)
  • REGIONAL WINNERS Banco Santander Chile (Latin America, 2013)
  • REGIONAL WINNERS Banco de Crédito e Inversiones (Latin America, 2013)
  • REGIONAL WINNERS Corpbanca (Latin America, 2013)
  • REGIONAL WINNERS BBVA Chile (Latin America, 2013)
2012:
  • OVERALL SAFEST BancoEstado (Latin America, 2012)
  • OVERALL SAFEST Banco de Chile (Latin America, 2012)
  • REGIONAL WINNERS BancoEstado (Latin America, 2012)
  • REGIONAL WINNERS Banco de Chile (Latin America, 2012)
  • REGIONAL WINNERS Banco Santander Chile (Latin America, 2012)
  • REGIONAL WINNERS Banco de Crédito e Inversiones (Latin America, 2012)
  • REGIONAL WINNERS Corpbanca (Latin America, 2012)
  • REGIONAL WINNERS BBVA Chile (Latin America, 2012)
2011:
  • REGIONAL WINNERS Banco del Estado de Chile (Latin America, 2011)
  • REGIONAL WINNERS Banco de Chile (Latin America, 2011)
  • REGIONAL WINNERS Banco de Crédito e Inversiones (National, 2011)
  • REGIONAL WINNERS Corpbanca (National, 2011)
  • REGIONAL WINNERS Banco Santander Chile (National, 2011)
  • OVERALL SAFEST Banco Santander Chile (National, 2011)
  • OVERALL SAFEST Banco del Estado de Chile (National, 2011)
  • OVERALL SAFEST Banco de Chile (National, 2011)
  • OVERALL SAFEST Banco de Crédito e Inversiones (National, 2011)
2010:
  • REGIONAL WINNERS Banco del Estado de Chile (Latin America, 2010)
  • REGIONAL WINNERS Banco de Chile (Latin America, 2010)
  • REGIONAL WINNERS Corpbanca (Global, 2010)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Banco Santander Chile (Global, 2012)
2011:
  • COUNTRY WINNERS Banco Santander Chile (Asia, 2011)
2010:
  • COUNTRY WINNERS Banco Santander Chile (National, 2010)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS Banco de Chile (Global, 2012)
2011:
  • COUNTRY WINNERS Banco de Chile (Global, 2011)
2010:
  • COUNTRY WINNERS Banco de Chile (Latin America, 2010)
2009:
  • COUNTRY WINNERS Banco de Chile (Asia, 2009)

WORLD'S BEST INVESTMENT BANKS

2013:
  • COUNTRY WINNERS Banco de Chile (National, 2013)
2012:
  • COUNTRY WINNERS LarrainVial (Global, 2012)
2011:
  • COUNTRY WINNERS LarrainVial (Asia, 2011)

CENTRAL BANKER REPORT CARD

2012:
2011:
2010:
2009:

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Banco Santander Chile (Latin America, 2010)
  • OVERALL BIGGEST Banco de Chile (National, 2010)
  • OVERALL BIGGEST Banco del Estado de Chile (National, 2010)
  • OVERALL BIGGEST Banco de Crédito e Inversiones (Latin America, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Banco Santander Chile (National, 2013)
2012:
  • COUNTRY WINNERS Banco Santander Chile (Latin America, 2012)
2011:
  • COUNTRY WINNERS Banco Santander Chile (Asia, 2011)
2010:
  • COUNTRY WINNERS Banco Santander Chile (Latin America, 2010)
2009:
  • COUNTRY WINNERS Banco Santander Chile (Latin America, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE