Scotiabank ESG and Financial Performance Update
Chilean Economy
GDP 2022: 2.4%
HIGHLIGHTS 1
GDP 2023F: -0.8%
GDP 2024F: 2.8%
CHILEAN GDP BY INDUSTRY 2
14.8%
Finance, Insurance,
& Real Estate
3.8%
Natural Resources
9.6%
Wholesale & Retail Trade
8.9%
Manufacturing
•
Advanced economy with wide-ranging trade links
Chile's mix of economic activities reflects its status as an
advanced OECD economy
Chile's diversified trading relationships are supported by 30
free-trade agreements with 70 countries that account for 88%
of global GDP
Consumption has reduced its contribution to GDP growth in the
absence of new pension fund withdrawals and universal fiscal
transfers
10.1%
Other
1.9%
Restaurants &
Hotels
CONTRIBUTIONS TO CHILEAN GDP GROWTH 2
40
40
30
20
y/y % change
Net Exports
Investment.
Consumption
10
10
0
-20
10
-10
Inventories
Government
Real GDP
50.88T
CLP2018
SA
(Q4-2022)
8.0%
Transportation &
Warehousing
21.3%
Housing & Personal
Services
10.9%
Mining and Oil &
Gas Extraction
6.0%
Construction
4.8%
Public Administration
TOP TRADING PARTNERS 3
Others
36%
China
31%
South Korea 4%
Japan 6%
United States
Brazil 7%
16%
-30
18
19
20
21
22
1Sources: Scotiabank Economics, Bloomberg, as of May 18, 2023; 2 Sources: Scotiabank Economics, Haver Analytics; 3 Trade data updated as of Q4-2022
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