CHILE IS TRADITIONALLY CONSIDERED A MODEL IN LATIN AMERICA IN TERMS OF POLITICAL AND FINANCIAL TRANSPARENCY. IT WAS ALSO ONE OF LATIN AMERICA’S FASTEST GROWING ECONOMIES IN THE LAST DECADE, ALLOWING THE COUNTRY TO SIGNIFICANTLY REDUCE POVERTY. CHILE GROWED 4% IN 2018, WITH AN EXPECTED INCREASE OF 3.4% IN 2019 AND 3.2% IN 2020.
Chile’s economic recovery, after years of low commodity prices, is directly sustained by increased consumption and private investment, rising wages, falling interest rates, private sector confidence and increased mining production. Social and educational reforms also support this inclusive growth.
Chile today has a market-oriented economy, characterized by a high level of foreign trade and a solid reputation for financial and political institutions, conferring the strongest sovereign bond rating in South America. Exports of goods and services represent approximately a third of GDP, with trade in goods accounting for around 60% of total exports.