The economy of Chile shrank 14.1 percent year-on-year in the second quarter of 2020, after growing a downwardly revised 0.2 percent in the previous period and compared with market expectations of a 13.1 percent slump. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. Output plunged in manufacturing (-10.6% vs 0.8% in Q1); construction (-20.4% vs 5.5%); real estate (-5.3% vs 1.4%); business services (-9.5% vs 2%); and utilities (-3.1% vs 1.8%). Also, production shrank further in restaurant & hotels (-52.8% vs -6.7%); trade (-20.6% vs -1.6%); transport (-34.4% vs -3.3%); personal services (-27.9% vs -6%); and agriculture (-6% vs -3.5%). In addition, growth slowed in mining (1.6% vs 5.3%), namely copper (1.1% vs 3.7%); public administration (2.4% vs 4.3%); and financial services (2.7% vs 5.9%). On a seasonally adjusted quarterly basis, the economy contracted 13.2 percent, the most on record, following a 3 percent expansion in the prior quarter. source: Banco Central de Chile
GDP Annual Growth Rate in Chile averaged 3.48 percent from 1997 until 2020, reaching an all time high of 9.50 percent in the first quarter of 2011 and a record low of -14.10 percent in the second quarter of 2020. This page provides - Chile GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Chile GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
GDP Annual Growth Rate in Chile is expected to be -8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Chile to stand at 9.00 in 12 months time. In the long-term, the Chile GDP Annual Growth Rate is projected to trend around 4.50 percent in 2021 and 3.30 percent in 2022, according to our econometric models.