Canadian Banking and Residential Mortgages Overview
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 30 free-trade agreements with
70 countries that account for 88% of global
GDP.
Public support for households and
businesses has powered a strong rebound in
consumption.
GDP 2021E:
12.0%
GDP 2022F:
3.5%
GDP 2023F:
2.0%
Sources: Scotiabank Economics, Bloomberg, as of February 18, 2022.
Contributions to Chilean GDP Growth
40
y/y % change
30
15.8%
Finance, Insurance,
& Real Estate
9.4%
Other
2.0%
Restaurants &
Hotels
8.2%
Transportation &
Warehousing
3.2%
Natural Resources
CHILEAN
GDP BY
INDUSTRY
(Q3-2021)
18.4%
Housing & Personal
Services
10.9%
Wholesale & Retail Trade
Top Trading Partners*
10.2%
Manufacturing
11.6%
Mining and Oil &
Gas Extraction
5.8%
Construction
4.6%
Public Administration
20
20
10
0
-10
Net Exports
Investment
-20
Consumption
18
Inventories
Government
Real GDP
19
Sources: Scotiabank Economics, Haver Analytics.
-30
17
20
21
24
Japan 4%
Others
28%
China
34%
Brazil 7%
United States
EU 10%
17%
* Trade data updated as of Q3-2021.
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