A favourable growth outlook offers Chile an opportunity to address its low productivity levels compared to other advanced economies, improve access to quality jobs and take steps to reduce its persistently high inequality, according to a new OECD report.

Las perspectivas de crecimiento favorable ofrecen a Chile una oportunidad para abordar sus bajos niveles de productividad comparados con los de otras economías desarrolladas, mejorar el acceso al empleo de calidad, y tomar medidas para reducir su desigualdad persistentemente alta, según un nuevo informe de la OCDE.

Chile has been one of the fastest-growing economies in the OECD in recent decades. Sound macroeconomic management, bold structural reforms, such as trade and investment liberalisation, and buoyant natural-resource sectors, supported fast convergence in living standards.However, progress has slowed: declining productivity gains are limiting prospects for rising incomes and better-quality jobs; and inequality remains stubbornly high.

Chile’s export growth has disappointed over the past two decades. In particular, exports of goods and services - in volume - have only grown at 1.1% annually over 2009-17 and at around 2.0% for non-copper products and services, compared to 4.2% in the average Latin American country.

OECD signed agreement for a peer review with the Comptroller General of Chile

Today’s post is by Arthur Mickoleit of the OECD’s Directorate for Public Governance and Territorial Development. Inputs from Kareen Schramm and Sofia Varas of Chile’s Ministry General‑Secretariat of the Presidency are gratefully acknowledged.

This working paper offers an evaluation of the performance of ports of Antofagasta, an analysis of the impact of the ports on their territory and an assessment of policies in this field. It examines port performance over the last decades and identifies the principal factors that have contributed to it.

Chile has improved its regulatory policy in recent years, but could see benefits from further measures and a comprehensive effort to improve the way it prepares and issues new laws and regulations, according to a new OECD report.

Chile has established itself as a regional leader and has been rapidly closing the gap with other OECD countries in the field of digital government.

This OECD review underlines the success of Chile’s infrastructure policies which have served as a backbone for it's rapid economic development and social welfare reforms - but also highlights the need to update public investment processes to reflect a more integrated approach to long-term development.

This OECD assessment of the Constitutional Process Open to Citizens in Chile, identifies the lessons learned and advises on how to further improve citizen engagement in the policy making processes.

On 10 July, the Multi-level governance review of Chile “Making decentralisation work: towards stronger municipalities” was launched in Santiago in the framework of a conference organised by SUBDERE.

Governments adhering to the OECD Guidelines for Multinational Enterprises are required to set up a National Contact Point (NCP) that functions in a visible, accessible, transparent and accountable manner. This report contains a peer review of the Chilean NCP, mapping its strengths and accomplishments and also identifying opportunities for improvement.

Wages High Skilled in Chile increased to 1154700 CLP/Month in 2018 from 1149700 CLP/Month in 2017. Wages High Skilled in Chile averaged 1149225 CLP/Month from 2015 until 2018, reaching an all time high of 1179700 CLP/Month in 2016 and a record low of 1112800 CLP/Month in 2015. High Skilled Wages refer to highest estimate of wage of workers doing high-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Chile 10Y Bond Yield was 2.62 percent on Friday May 8, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the Chile Government Bond 10y reached an all time high of 8.07 in September of 2008. Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.

Exports to Chile CMLV in Russia increased to 7.80 USD Million in February from 3.60 USD Million in January of 2020. Exports to Chile CMLV in Russia averaged 24.03 USD Million from 2006 until 2020, reaching an all time high of 124.50 USD Million in December of 2018 and a record low of 0.40 USD Million in January of 2006. Russia accounts for Exports to Chile using cumulative values for each year (CMLV). This page includes a chart with historical data for Russia Exports to Chile.

Wages Low Skilled in Chile decreased to 388700 CLP/Month in 2018 from 397600 CLP/Month in 2017. Wages Low Skilled in Chile averaged 382825 CLP/Month from 2015 until 2018, reaching an all time high of 397600 CLP/Month in 2017 and a record low of 363600 CLP/Month in 2015. Low Skilled Wages refer to highest estimate of wage of workers doing low-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Chile scored 70.54 points out of 100 on the 2018 Global Competitiveness Report published by the World Economic Forum. Competitiveness Index in Chile averaged 19.77 Points from 2007 until 2019, reaching an all time high of 70.54 Points in 2019 and a record low of 4.58 Points in 2016. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. The report is made up of 98 variables, from a combination of data from international organizations as well as from the World Economic Forum’s Executive Opinion Survey. The variables are organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. The GCI varies between 1 and 100, higher average score means higher degree of competitiveness. With the 2018 edition, the World Economic Forum introduced a new methodology, aiming to integrate the notion of the 4th Industrial Revolution into the definition of competitiveness. It emphasizes the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. This page provides the latest reported value for - Chile Competitiveness Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Living Wage Family in Chile decreased to 599700 CLP/Month in 2018 from 600000 CLP/Month in 2017. Living Wage Family in Chile averaged 594500 CLP/Month from 2015 until 2018, reaching an all time high of 600000 CLP/Month in 2017 and a record low of 584400 CLP/Month in 2016. WageIndicator Living Wage computations are based on the cost of living for a predefined food basket derived from the FAO database distinguishing 50 food groups with national food consumption patterns in per capita units, for housing and for transportation, with a margin for unexpected expenses. The data about prices of these items is collected through an online survey. Living Wage for a typical family refers to the family composition most common in the country at stake, calculated on the respective fertility rates.

Terrorism Index in Chile increased to 4.12 in 2018 from 3.45 in 2017. Terrorism Index in Chile averaged 2.70 from 2002 until 2018, reaching an all time high of 4.12 in 2018 and a record low of 0.50 in 2006. The Global Terrorism Index measures the direct and indirect impact of terrorism, including its effects on lives lost, injuries, property damage and the psychological aftereffects. It is a composite score that ranks countries according to the impact of terrorism from 0 (no impact) to 10 (highest impact).

The IGPA decreased 4813 points or 20.07% since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks this benchmark index from Chile. Historically, the Chile Stock Market (IGPA) reached an all time high of 30712.44 in January of 2018. The Santiago Stock Exchange General Index IGPA tracks the performance of the majority of stocks traded on the Santiago Stock Exchange. It is a capitalization-weighted index. The index has a base value of 100 as of December 30, 1980.

Living Wage Individual in Chile decreased to 388600 CLP/Month in 2018 from 394100 CLP/Month in 2017. Living Wage Individual in Chile averaged 386925 CLP/Month from 2015 until 2018, reaching an all time high of 394100 CLP/Month in 2017 and a record low of 379500 CLP/Month in 2016. WageIndicator Living Wage computations are based on the cost of living for a predefined food basket derived from the FAO database distinguishing 50 food groups with national food consumption patterns in per capita units, for housing and for transportation, with a margin for unexpected expenses. The data about prices of these items is collected through an online survey.

Chile is the 33 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum. Competitiveness Rank in Chile averaged 31.31 from 2007 until 2019, reaching an all time high of 35 in 2016 and a record low of 26 in 2008. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. In 2018, the World Economic Forum introduced a new methodology emphasizing the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. As a result, the GCI scale changed to 1 to 100 from 1 to 7, with higher average score meaning higher degree of competitiveness. The report is made up of 98 variables organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. This page provides the latest reported value for - Chile Competitiveness Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Chile scored 67 points out of 100 on the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Index in Chile averaged 70.64 Points from 1995 until 2019, reaching an all time high of 79.40 Points in 1995 and a record low of 60.50 Points in 1997. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory’s score indicates the perceived level of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean). This page provides the latest reported value for - Chile Corruption Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Chile is the 26 least corrupt nation out of 175 countries, according to the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Rank in Chile averaged 21.32 from 1995 until 2019, reaching an all time high of 27 in 2018 and a record low of 14 in 1995. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory's rank indicates its position relative to the other countries and territories in the index. This page provides the latest reported value for - Chile Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Sales Tax Rate in Chile stands at 19 percent. In Chile, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. The benchmark we use for the sales tax rate refers to the highest rate. Revenues from the Sales Tax Rate are an important source of income for the government of Chile. This page provides - Chile Sales Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Housing Index in Chile increased to 203.70 points in December from 203.40 points in November of 2019. Housing Index in Chile averaged 136.06 points from 2004 until 2019, reaching an all time high of 203.70 points in December of 2019 and a record low of 97.50 points in June of 2006. In Chile, the House Price Index refers to a three-month moving average of new house prices in the city of Santiago. The index is estimated from the sale prices of homes in development units. The use of moving averages smooths out the series by removing the irregular movements, allowing the detection of the short-term trends. This page provides - Chile House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Corporate Tax Rate in Chile stands at 27 percent. Corporate Tax Rate in Chile averaged 19.08 percent from 1997 until 2020, reaching an all time high of 27 percent in 2019 and a record low of 15 percent in 1998. In Chile, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. The benchmark we use refers to the highest rate for Corporate Income. Revenues from the Corporate Tax Rate are an important source of income for the government of Chile. This page provides - Chile Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Personal Income Tax Rate in Chile stands at 35 percent. Personal Income Tax Rate in Chile averaged 39.38 percent from 2003 until 2018, reaching an all time high of 40 percent in 2004 and a record low of 35 percent in 2017. In Chile, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Chile. This page provides - Chile Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Chile was worth 300 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The GDP value of Chile represents 0.25 percent of the world economy. GDP in Chile averaged 81.66 USD Billion from 1960 until 2019, reaching an all time high of 300 USD Billion in 2019 and a record low of 4.10 USD Billion in 1960. The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. This page provides - Chile GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The total population in Chile was estimated at 19.1 million people in 2019, according to the latest census figures and projections from Trading Economics. Looking back, in the year of 1960, Chile had a population of 7.7 million people. The population of Chile represents 0.25 percent of the world´s total population which arguably means that one person in every 404 people on the planet is a resident of Chile. This page provides - Chile Population - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Constant Prices in Chile decreased to 37841.40 CLP Billion in the fourth quarter of 2019 from 39471.50 CLP Billion in the third quarter of 2019. GDP Constant Prices in Chile averaged 24726.47 CLP Billion from 1996 until 2019, reaching an all time high of 39471.50 CLP Billion in the third quarter of 2019 and a record low of 13802 CLP Billion in the first quarter of 1996. This page provides - Chile GDP Constant Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Chile recorded a Current Account deficit of 2363.45 USD Million in the fourth quarter of 2019. Current Account in Chile averaged -734.83 USD Million from 1996 until 2019, reaching an all time high of 3256.31 USD Million in the first quarter of 2007 and a record low of -5331.15 USD Million in the third quarter of 2012. Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). This page provides - Chile Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Chile recorded a Current Account deficit of 3.90 percent of the country's Gross Domestic Product in 2019. Current Account to GDP in Chile averaged -2.71 percent from 1980 until 2019, reaching an all time high of 4.50 percent in 2006 and a record low of -14 percent in 1981. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Chile Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Chile contracted 2.10 percent in the fourth quarter of 2019 over the same quarter of the previous year. GDP Annual Growth Rate in Chile averaged 3.70 percent from 1997 until 2019, reaching an all time high of 9.50 percent in the first quarter of 2011 and a record low of -3.90 percent in the second quarter of 1999. The most important sector of Chilean economy is services. Trade, restaurants and hotels, transport, communications, financial and business services, real estate and personal services account for more than 56 percent of the GDP. Mining constitutes 13 percent of the output with copper representing the biggest part. Manufacturing creates 12 percent of the wealth and construction and water, gas and electricity distribution 11 percent. The government fuels 5 percent of the output and the agriculture and fishing sector accounts for the remaining 3 percent of GDP. This page provides - Chile GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Chile contracted 4.10 percent in the fourth quarter of 2019 over the previous quarter. GDP Growth Rate in Chile averaged 0.80 percent from 1997 until 2019, reaching an all time high of 4.30 percent in the second quarter of 2010 and a record low of -4.10 percent in the fourth quarter of 2019. Chile has been one of Latin America´s fastest growing economies mostly due to exports of copper. In recent years, the country has been diversifying its industrial base and it has become a success case in the production of salmon and wine. This page provides - Chile GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Agriculture in Chile increased to 1019.20 CLP Billion in the fourth quarter of 2019 from 533.60 CLP Billion in the third quarter of 2019. GDP From Agriculture in Chile averaged 670.89 CLP Billion from 1996 until 2019, reaching an all time high of 1976.74 CLP Billion in the first quarter of 2016 and a record low of 193.80 CLP Billion in the third quarter of 1996. This page provides - Chile Gdp From Agriculture- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Construction in Chile increased to 2970.65 CLP Billion in the fourth quarter of 2019 from 2372.19 CLP Billion in the third quarter of 2019. GDP From Construction in Chile averaged 1688.26 CLP Billion from 1996 until 2019, reaching an all time high of 2970.65 CLP Billion in the fourth quarter of 2019 and a record low of 1102.60 CLP Billion in the third quarter of 1999. This page provides - Chile Gdp From Construction- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Manufacturing in Chile increased to 4124.05 CLP Billion in the fourth quarter of 2019 from 3927.10 CLP Billion in the third quarter of 2019. GDP From Manufacturing in Chile averaged 2770.97 CLP Billion from 1996 until 2019, reaching an all time high of 4166.51 CLP Billion in the fourth quarter of 2018 and a record low of 1858.80 CLP Billion in the third quarter of 1996. This page provides - Chile Gdp From Manufacturing- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Mining in Chile increased to 3987.74 CLP Billion in the fourth quarter of 2019 from 3942.08 CLP Billion in the third quarter of 2019. GDP From Mining in Chile averaged 3389.26 CLP Billion from 1996 until 2019, reaching an all time high of 4119.50 CLP Billion in the fourth quarter of 2014 and a record low of 2233.20 CLP Billion in the first quarter of 1996. This page provides - Chile Gdp From Mining- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Public Administration in Chile increased to 1826.05 CLP Billion in the fourth quarter of 2019 from 1809.14 CLP Billion in the third quarter of 2019. GDP From Public Administration in Chile averaged 1108.04 CLP Billion from 1996 until 2019, reaching an all time high of 1826.05 CLP Billion in the fourth quarter of 2019 and a record low of 721.60 CLP Billion in the first quarter of 1996. This page provides - Chile Gdp From Public Administration- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Services in Chile increased to 3900.10 CLP Billion in the fourth quarter of 2019 from 3802.91 CLP Billion in the third quarter of 2019. GDP From Services in Chile averaged 3453.49 CLP Billion from 2008 until 2019, reaching an all time high of 3900.10 CLP Billion in the fourth quarter of 2019 and a record low of 2705.90 CLP Billion in the first quarter of 2008. This page provides - Chile Gdp From Business Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Transport in Chile decreased to 1966.72 CLP Billion in the fourth quarter of 2019 from 1992.20 CLP Billion in the third quarter of 2019. GDP From Transport in Chile averaged 1436.81 CLP Billion from 1996 until 2019, reaching an all time high of 2069.30 CLP Billion in the fourth quarter of 2012 and a record low of 708.90 CLP Billion in the first quarter of 1996. This page provides - Chile Gdp From Transport and Communication- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Utilities in Chile increased to 1088.19 CLP Billion in the fourth quarter of 2019 from 1047.38 CLP Billion in the third quarter of 2019. GDP From Utilities in Chile averaged 776.88 CLP Billion from 1996 until 2019, reaching an all time high of 1123.59 CLP Billion in the fourth quarter of 2018 and a record low of 532.40 CLP Billion in the first quarter of 2009. This page provides - Chile Gdp From Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Spending in Chile decreased to 5544.14 CLP Billion in the fourth quarter of 2019 from 5572.71 CLP Billion in the third quarter of 2019. Government Spending in Chile averaged 3079.82 CLP Billion from 1996 until 2019, reaching an all time high of 5984.97 CLP Billion in the fourth quarter of 2018 and a record low of 1371 CLP Billion in the first quarter of 1996. Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth. This page provides - Chile Government Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Gross Fixed Capital Formation in Chile increased to 9868.75 CLP Billion in the fourth quarter of 2019 from 8211.66 CLP Billion in the third quarter of 2019. Gross Fixed Capital Formation in Chile averaged 577004.72 CLP Billion from 1994 until 2019, reaching an all time high of 1486680.24 CLP Billion in the fourth quarter of 2011 and a record low of 7235.65 CLP Billion in the first quarter of 2017. This page provides - Chile Gross Fixed Capital Formation - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Gross National Product in Chile increased to 148852.82 CLP Billion in 2019 from 146856.92 CLP Billion in 2018. Gross National Product in Chile averaged 105153.57 CLP Billion from 1996 until 2019, reaching an all time high of 148852.82 CLP Billion in 2019 and a record low of 66165.90 CLP Billion in 1996. This page provides - Chile Gross National Product - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Consumer Spending in Chile increased to 25475.01 CLP Billion in the fourth quarter of 2019 from 25046.80 CLP Billion in the third quarter of 2019. Consumer Spending in Chile averaged 15123.06 CLP Billion from 1996 until 2019, reaching an all time high of 26491.15 CLP Billion in the fourth quarter of 2018 and a record low of 7342 CLP Billion in the first quarter of 1996. This page provides - Chile Consumer Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Deflator in Chile increased to 130 points in the fourth quarter of 2019 from 127.10 points in the third quarter of 2019. GDP Deflator in Chile averaged 115.31 points from 2013 until 2019, reaching an all time high of 130 points in the fourth quarter of 2019 and a record low of 97.60 points in the second quarter of 2013. This page provides - Chile Gdp Deflator- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Import Prices in Chile decreased to 82.79 points in the fourth quarter of 2019 from 83.41 points in the third quarter of 2019. Import Prices in Chile averaged 88.58 points from 2003 until 2019, reaching an all time high of 109.78 points in the third quarter of 2008 and a record low of 66.62 points in the first quarter of 2003. In Chile, Import Prices correspond to the rate of change in the prices of goods and services purchased by residents of that country from, and supplied by, foreign sellers. Import Prices are heavily affected by exchange rates. This page provides the latest reported value for - Chile Import Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.