Chile's gross domestic product remained stable year-on-year in the fourth quarter of 2020, following a downwardly revised 9% contraction in the previous period. Growth was recorded in manufacturing (3.5% vs -4.2% in Q3); trade (13.9% vs flat reading in Q3); communications (3.5% vs -0.5%); financial services (0.4% vs -0.7%) and agriculture (4.7% vs -2.9%). Meantime, output fell less in construction (-11.2% vs -29.6%); restaurants & hotels (-21.5% vs -44.5%); transportation services (-7.8% vs -26.8%) and business services (-3.7% vs -7.8%). On a less positive note, mining output slumped (-2.6% vs flat reading in Q3), mostly due to copper (-3.7% vs -0.3%). On a seasonally adjusted quarterly basis, the economy grew 6.8%, quickening from a downwardly revised 5.1% advance in Q3, amid the gradual lifting of restrictions. In 2020, economic activity plunged 5.8%, with services and construction among the most affected by the pandemic. source: Banco Central de Chile
GDP Annual Growth Rate in Chile averaged 3.38 percent from 1997 until 2020, reaching an all time high of 9.30 percent in the fourth quarter of 2004 and a record low of -14.20 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 May of 2021.
GDP Annual Growth Rate in Chile is expected to be 9.00 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 1.80 in 12 months time. In the long-term, the Chile GDP Annual Growth Rate is projected to trend around 3.50 percent in 2022 and 3.30 percent in 2023, according to our econometric models.