{"id":137,"date":"2022-04-01T17:04:28","date_gmt":"2022-04-01T17:04:28","guid":{"rendered":"https:\/\/britcham.cl\/pruebas\/?page_id=137"},"modified":"2026-04-23T13:50:46","modified_gmt":"2026-04-23T16:50:46","slug":"economic-indicators","status":"publish","type":"page","link":"https:\/\/britcham.cl\/es\/economic-indicators\/","title":{"rendered":"Economic Indicators"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"137\" class=\"elementor elementor-137\" wpc-filter-elementor-widget=\"1\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-df045df e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-column-slider-no wpr-equal-height-no e-con e-parent\" data-id=\"df045df\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-84b50d0 elementor-widget elementor-widget-text-editor\" data-id=\"84b50d0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div class=\"container_small  with_space\"><div class=\"wswig actual_content bottom_in\"><h4><span style=\"text-decoration: underline;\"><strong>GDP<\/strong><\/span><\/h4><h4>Chile\u2019s\u00a0<a href=\"https:\/\/tradingeconomics.com\/chile\/gdp-growth-annual\">annual growth rates<\/a>\u00a0have consistently been positive since the turn of the century, buoyed by high copper prices and internationally acclaimed economic policies. It dropped into negative territory during the global financial crisis during 2008 and 2009, and briefly after the huge earthquake in 2010. In 2020 it dropped again due to the double impact of the social crisis outbreak at the end of 2019 and the onset of COVID in March 2020. Also see\u00a0<a href=\"https:\/\/britcham.cl\/es\/doing-business-in-chile\/chile-market-overview\/economic-indicators\/#growth\">GDP Growth actual and projected<\/a>.<\/h4><h4 data-start=\"271\" data-end=\"308\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">In recent years:<\/span><\/h4><ul data-start=\"310\" data-end=\"556\"><li data-start=\"310\" data-end=\"390\"><h4 data-start=\"312\" data-end=\"390\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\"><strong data-start=\"0\" data-end=\"8\" data-is-only-node=\"\">2022<\/strong>: real GDP grew by\u00a0<strong data-start=\"27\" data-end=\"36\" data-is-last-node=\"\">+2.0%<\/strong><\/span>.<\/h4><\/li><li data-start=\"391\" data-end=\"473\"><h4 data-start=\"393\" data-end=\"473\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\"><strong data-start=\"0\" data-end=\"8\" data-is-only-node=\"\">2023<\/strong>: growth slowed to\u00a0<strong data-start=\"27\" data-end=\"36\">+0.2%<\/strong>, reflecting sluggish private investment and tight financial conditions<\/span>.<\/h4><\/li><li data-start=\"474\" data-end=\"556\"><h4 data-start=\"476\" data-end=\"556\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\"><strong data-start=\"0\" data-end=\"8\" data-is-only-node=\"\">2024<\/strong>: GDP rebounded to\u00a0<strong data-start=\"27\" data-end=\"36\">+2.6%<\/strong>, supported by rising exports and internal demand; this exceeded both the Central Bank\u2019s forecast and the World Bank\u2019s estimate<\/span>.<\/h4><\/li><\/ul><h4 data-start=\"558\" data-end=\"585\"><strong data-start=\"558\" data-end=\"585\">Projections for 2025:<\/strong><\/h4><ul data-start=\"587\" data-end=\"839\"><li data-start=\"587\" data-end=\"671\"><h4 data-start=\"589\" data-end=\"671\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">The\u00a0<strong data-start=\"4\" data-end=\"11\">IMF<\/strong>\u00a0forecasts real GDP growth of\u00a0<strong data-start=\"41\" data-end=\"50\" data-is-last-node=\"\">+2.0%<\/strong><\/span>.<\/h4><\/li><li data-start=\"672\" data-end=\"756\"><h4 data-start=\"674\" data-end=\"756\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">The\u00a0<strong data-start=\"4\" data-end=\"18\">World Bank<\/strong>\u00a0expects a similar\u00a0<strong data-start=\"37\" data-end=\"46\" data-is-last-node=\"\">+2.1%<\/strong><\/span>.<\/h4><\/li><li data-start=\"757\" data-end=\"839\"><h4 data-start=\"759\" data-end=\"839\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">The\u00a0<strong data-start=\"4\" data-end=\"56\">Central Bank\u2019s Monetary Policy Report (May 2025)<\/strong>\u00a0forecasts growth between\u00a0<strong data-start=\"82\" data-end=\"101\">1.75% and 2.75%<\/strong>, citing stronger-than-expected start to the year<\/span>.<\/h4><\/li><\/ul><\/div><\/div><div class=\"image-container bottom_in\"><img decoding=\"async\" class=\"special_lazy \" src=\"https:\/\/britcham.cl\/cms\/wp-content\/uploads\/2025\/07\/graph-2-Quarterly-GDP-scaled.png\" data-lazy=\"https:\/\/britcham.cl\/cms\/wp-content\/uploads\/2025\/07\/graph-2-Quarterly-GDP-scaled.png\"  alt=\"Graph 2 Quarterly GDP Scaled\"  title=\"Economic Indicators\" \/><\/div><div class=\"wswig actual_content bottom_in\"><h4>The Monthly Economic Activity Index (Imacec)<\/h4><p>The\u00a0<a href=\"https:\/\/si3.bcentral.cl\/estadisticas\/Principal1\/Metodologias\/CCNN\/imacec\/Imacec.pdf\">Imacec<\/a>\u00a0is an estimate that summarises the activity of the different branches of the economy in a given month, at prices from the previous year. The calculation of the Monthly Economic Activity Index is based on multiple supply indicators, which are weighted by the share of economic activities in the previous year\u2019s GDP.<\/p><\/div><div class=\"image-container bottom_in\"><img decoding=\"async\" class=\"special_lazy \" src=\"https:\/\/britcham.cl\/cms\/wp-content\/uploads\/2025\/07\/graph-1-IMACEC-scaled.png\" data-lazy=\"https:\/\/britcham.cl\/cms\/wp-content\/uploads\/2025\/07\/graph-1-IMACEC-scaled.png\"  alt=\"Graph 1 IMACEC Scaled\"  title=\"Economic Indicators\" \/><\/div><div class=\"wswig actual_content bottom_in\"><p class=\"p1\"><span class=\"s1\">Source: Central Bank of Chile.<\/span><\/p><p>\u00a0<\/p><h4>The Monthly Business Confidence Indicator<\/h4><p>\u00a0<\/p><p>Which is produced by the Adolfo Ib\u00e1\u00f1ez University and ICARE, slipped to 49.04 points in November 2021, moving back into negative territory for the first time in almost a year. Executives surveyed by the Central Bank in October 2021 found that while most of them had seen a significant improvement in sales this year, they were concerned by rising costs, labour shortages, and uncertainty relating to the evolving political situation.<\/p><\/div><div class=\"image-container bottom_in\"><img decoding=\"async\" class=\"special_lazy \" src=\"https:\/\/britcham.cl\/cms\/wp-content\/uploads\/2022\/04\/graph-3-Business-Confidence-1.svg\" data-lazy=\"https:\/\/britcham.cl\/cms\/wp-content\/uploads\/2022\/04\/graph-3-Business-Confidence-1.svg\"  alt=\"Graph 3 Business Confidence 1\"  title=\"Economic Indicators\" \/><\/div><div class=\"wswig actual_content bottom_in\"><p class=\"p1\"><span class=\"s1\">Source: Adolfo Ib\u00e1\u00f1ez University, ICARE.<\/span><\/p><p>\u00a0<\/p><h4>\u00a0<\/h4><h4 class=\"p1\"><span class=\"s1\">Inflation<\/span><\/h4><p class=\"p2\"><span class=\"s1\">The long-term aim of Chile\u2019s independent Central Bank is to hold inflation at around 3%. Prior to the onset of COVID 19 this was largely achieved by careful fiscal management.<\/span><\/p><p class=\"p2\"><span class=\"s1\">The consumer price index, used here as a proxy for inflation, demonstrates that the recent hike in inflation was driven by a surge in retail spending. This in turn was a consequence of the large injection of cash into the economy stemming from the government\u2019s pension withdrawal scheme and other social support mechanisms. Also see\u00a0<a href=\"https:\/\/britcham.cl\/es\/doing-business-in-chile\/chile-market-overview\/economic-indicators\/#inflation\">here.<\/a><\/span><\/p><\/div><div class=\"image-container bottom_in\"><img decoding=\"async\" class=\"special_lazy \" src=\"https:\/\/britcham.cl\/cms\/wp-content\/uploads\/2022\/04\/graph-13-Consumer-Price-Index.svg\" data-lazy=\"https:\/\/britcham.cl\/cms\/wp-content\/uploads\/2022\/04\/graph-13-Consumer-Price-Index.svg\"  alt=\"Graph 13 Consumer Price Index\"  title=\"Economic Indicators\" \/><\/div><div class=\"container_small  with_space\"><div class=\"wswig actual_content bottom_in\"><h4 id=\"growth\">GDP Growth Historic and Projected<\/h4><h4 class=\"p3\"><span class=\"s1\">The Chilean economy continued to recover rapidly from the slump in activity caused by the Covid-19 outbreak in early 2020. In 2021 activity expanded by an annual 17.2% in the third quarter (and by 4.9% from the second quarter). The withdrawal of many pandemic related restrictions, including the curfew and limits on international travel, contributed to significant recoveries in services and construction.<\/span><\/h4><h4 class=\"p3\"><span class=\"s1\">Boosted by pensions withdrawals and extended government support to households, retail sales continued to boom. Preliminary data from the Central Bank suggested that the recovery continued into the fourth quarter with activity growing by 15.0% in the year to October 2021. Private consumption was the main driver of economic growth in 2021, reflecting US$70 billion worth of additional household liquidity provided by pensions withdrawals and government transfers.<br \/>Investment also recovered rapidly, rising almost 30% in the year to September, reflecting the reactivation of several major investment projects, especially in the mining sector. Imports of capital goods rose almost 40% during the first eleven months of 2021.<\/span><\/h4><h4 class=\"p3\"><span class=\"s1\">Private consumption and retail sales are expected to slow significantly in 2022 following the withdrawal of the Emergency Family Income supplement and the rejection of a fourth pensions withdrawal bill in December 2021.<\/span><\/h4><h4>\u00a0<\/h4><h4 id=\"inflation\"><strong>Inflation<\/strong><\/h4><h4 class=\"p3\"><span class=\"s1\">Inflation accelerated in the final months of 2021 with the government\u2019s Consumer Price Index rising by 0.5% in November (following increases of 1.2% and 1.3% in September and October, respectively). This pushed annual inflation to 6.7%, up from 4.8% three months earlier and to its highest level in a decade. Inflation ended the year at around 7.0%.<\/span><\/h4><h4 class=\"p3\"><span class=\"s1\">Higher energy prices combined with the fall in the value of the Chilean peso explained much of the rise. Petrol prices rose almost a third during 2021, exceeding CLP 1,000\/litre (US$1.19) in petrol stations in Santiago for the first time ever. Discounting often volatile energy and food prices, inflation rose by 5.8% in the twelve months to November 2021.<\/span><\/h4><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>GDP Chile\u2019s\u00a0annual growth rates\u00a0have consistently been positive since the turn of the century, buoyed by high copper prices and internationally acclaimed economic policies. It dropped into negative territory during the global financial crisis during 2008 and 2009, and briefly after the huge earthquake in 2010. In 2020 it dropped again due to the double impact<\/p>\n","protected":false},"author":6,"featured_media":564,"parent":0,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"_uag_custom_page_level_css":"","site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-137","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"uagb_featured_image_src":{"full":["https:\/\/britcham.cl\/pruebas\/wp-content\/uploads\/2022\/04\/britcham-economic-indicators.png",2606,1920,false],"thumbnail":["https:\/\/britcham.cl\/pruebas\/wp-content\/uploads\/2022\/04\/britcham-economic-indicators-150x150.png",150,150,true],"medium":["https:\/\/britcham.cl\/pruebas\/wp-content\/uploads\/2022\/04\/britcham-economic-indicators-300x221.png",300,221,true],"medium_large":["https:\/\/britcham.cl\/pruebas\/wp-content\/uploads\/2022\/04\/britcham-economic-indicators-768x566.png",768,566,true],"large":["https:\/\/britcham.cl\/pruebas\/wp-content\/uploads\/2022\/04\/britcham-economic-indicators-1024x754.png",1024,754,true],"1536x1536":["https:\/\/britcham.cl\/pruebas\/wp-content\/uploads\/2022\/04\/britcham-economic-indicators-1536x1132.png",1536,1132,true],"2048x2048":["https:\/\/britcham.cl\/pruebas\/wp-content\/uploads\/2022\/04\/britcham-economic-indicators-2048x1509.png",2048,1509,true]},"uagb_author_info":{"display_name":"Isabel Juppet","author_link":"https:\/\/britcham.cl\/es\/author\/isabel-juppetbritcham-cl\/"},"uagb_comment_info":0,"uagb_excerpt":"GDP Chile\u2019s\u00a0annual growth rates\u00a0have consistently been positive since the turn of the century, buoyed by high copper prices and internationally acclaimed economic policies. It dropped into negative territory during the global financial crisis during 2008 and 2009, and briefly after the huge earthquake in 2010. In 2020 it dropped again due to the double impact","_links":{"self":[{"href":"https:\/\/britcham.cl\/es\/wp-json\/wp\/v2\/pages\/137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/britcham.cl\/es\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/britcham.cl\/es\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/britcham.cl\/es\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/britcham.cl\/es\/wp-json\/wp\/v2\/comments?post=137"}],"version-history":[{"count":8,"href":"https:\/\/britcham.cl\/es\/wp-json\/wp\/v2\/pages\/137\/revisions"}],"predecessor-version":[{"id":10198,"href":"https:\/\/britcham.cl\/es\/wp-json\/wp\/v2\/pages\/137\/revisions\/10198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/britcham.cl\/es\/wp-json\/wp\/v2\/media\/564"}],"wp:attachment":[{"href":"https:\/\/britcham.cl\/es\/wp-json\/wp\/v2\/media?parent=137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}