Scotiabank Business Overview and Economic Outlook
Chilean Economy
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 25 free-trade agreements with
60 countries that account for 74.3% of global
GDP.
Public support for households and
businesses has powered a strong rebound in
consumption
GDP Growth 2021F:
6.0%
GDP Growth 2022F:
3.5%
16.1%
Finance, Insurance,
& Real Estate
8.5%
Other
1.2%
Restaurants &
Hotels
7.7%
Transportation &
Warehousing
3.5%
Natural Resources
CHILEAN
GDP BY
INDUSTRY
(Q3 2020)
17.8%
Housing & Personal
Services
10.1%
Wholesale & Retail Trade
10.9%
Manufacturing
14.0%
Mining and Oil &
Gas Extraction
5.0%
Construction
5.2%
Public Administration
Top 5 Trading Partners*
Contributions to Chilean GDP Growth
10
y/y % change
5
0
-5
-10
Net Exports
-15
-20
Investment
Consumption
Inventories
Government
Real GDP
-25
17
18
Sources: Scotiabank Economics, Haver Analytics.
19
20
20
Others
36%
China
35%
Argentina
3% Brazil
United
5% Japan
States
6%
15%
* Trade data updated as of Q3-2020
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