Confidus Solutions logotype

Confidus Solutions

Economy of Chile

Chile is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Chile may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Chile exports around $77.94 billion and imports roughly $75.7 billion. 7.3% of population in the country are unemployed. The total number of unemployed people in Chile is 1,328,396. In Chile, 14.4% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Chile is low, indicating that it has a stable economy. Investors should consider Chile to be a safe location for investments and other financial ventures. Government expenditure on education is 4% of GDP. The Gini Index of the country is 52.1. Chile is experiencing inequality. The gap between the richest and poorest citizens in this country is significant and obvious, resulting in a drastically different standard of living for rich and poor citizens. Chile has a Human Development Index (HDI) of 0.822. Chile has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Chile is 1.563. Due to strong law enforcement presence and high social responsibility, Chile is very safe by international standards. The strength of legal rights index for Chile is 4. Overall, it is considered to be rather inadequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient.

Currency

The currency of Chile is Chilean peso. The plural form of the word Chilean peso is pesos. The symbol used for this currency is $, and it is abbreviated as CLP. The Chilean peso is divided into Centavo; there are 100 in one peso.

Credit rating

The depth of credit information index for Chile is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Chile has a credit rating score of AA-, and the prospects of this rating are positive. According to the Fitch credit-rating agency, Chile has a credit rating score of A+, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Chile has a credit rating score of Aa3, and the prospects of this rating are stable.

Central bank

The prime lending rate of Chile's commercial banks is 8.1. In Chile, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Chile. Locally, the central bank of Chile is called Banco Central de Chile. The average deposit interest rate offered by local banks in Chile is 3.9%.

Public debt

Chile has a government debt of 226.1% of the country's Gross Domestic Product (GDP), as assessed in 2013.

Tax information

The corporate tax in Chile is set at 22.5%. Personal income tax ranges from 0% to 40%, depending on your specific situation and income level. VAT in Chile is 19%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Chile is $410853 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Chile was last recorded at $23 million. PPP in Chile is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Chile is 277,043 billion. Based on this statistic, Chile is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Chile. The Gross Domestic Product (GDP) per capita in Chile was last recorded at $15 million. The average citizen in Chile has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Chile averaged 2% in 2014. According to this percentage, Chile is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Chile.

Industry

Major industries in the country are copper, lithium, other minerals, foodstuffs, fish processing, iron and steel, wood and wood products, transport equipment, cement, textiles. The total labor force of Chile is 8,963,680 people, wherein 7.3% of population in the country are unemployed. The total number of unemployed people in Chile is 1,328,396. The Industrial Production growth rate of Chile is 3.2%.To read more about industrial information within Chile click on industry of Chile.

Agriculture

There are 19619 km2 of arable land in Chile, and it comprises 3% of the country's total territory. There are 22839 km2 of cultivated land in Chile. The country's major agricultural crops and products are grapes, apples, pears, onions, wheat, corn, oats, peaches, garlic, asparagus, beans, beef, poultry, wool, fish, timber.To read more about agriculture click on agriculture of Chile.