Digital Banking Strength and Strategic Funding
Chilean Economy
Advanced economy with wide-ranging trade links
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•
Chile's mix of economic activities reflects its
status as an advanced market economy
Chile's diversified trading relationships are
supported by 23 free-trade agreements with
60 countries that account for 73% of global
GDP
Investment has been a strong contributor to
growth in Chile, which should underpin future
productivity gains as the economy rebounds
from recent social difficulties
GDP Forecast 2020: -5.2%
GDP Forecast 2021: +5.1%
Contributions to Chilean GDP Growth
8
y/y % change
6
15.6%
Finance, Insurance,
& Real Estate
8.6%
Other
1.8%
Restaurants &
Hotels
8.2%
Transportation &
Warehousing
3.3%
Natural Resources
CHILEAN
GDP BY
INDUSTRY
(Q12020)
19.2%
Housing & Personal
Services
9.0%
Wholesale & Retail Trade
10.3%
Manufacturing
12.7%
Mining and Oil &
Gas Extraction
6.6%
Construction
4.7%
Public Administration
Top 5 Trading Partners*
4
2
0
-2
-4
-6
17
Net Exports
Investment
Consumption
18
Sources: Scotiabank Economics, Haver Analytics.
Inventories
Government
Real GDP
19
20
20
Others
36%
China
31%
South Korea
3%
United
States
Brazil
6%
Japan
17%
6%
* Trade data updated as of Q1-2020
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