The economy of Chile shrank 9.1% year-on-year in the third quarter of 2020, following an upwardly revised record 14.5% slump in the previous period and compared with market expectations of a 9.2% drop. It was the second consecutive contraction amid the coronavirus crisis. Output shrank less in manufacturing (-4% vs -11.8% in Q2); restaurant & hotels (-43.2% vs -52.1%); transport (-28.6% vs -33.6%); personal services (-18.6% vs -29.5%); real estate (-4.4% vs -5.6%); business services (-7.6% vs -10.3%); construction (-29.6% vs -20.6%); utilities (-0.6% vs -3.3%) and agriculture (-3.2% vs -5.7%). Additionally, trade output stalled, after plunging 20.8%; while public administration expanded 2.4%, the same as in Q2. In contrast, output shrank in mining (-1% vs 1.5%), mainly due to copper (-0.9% vs 1.1%); and financial services (-0.2% vs 3.1%). On a seasonally adjusted quarterly basis, the economy grew 5.2%, recovering from an upwardly revised record 13.5% contraction in the previous period. source: Banco Central de Chile
GDP Annual Growth Rate in Chile averaged 3.42 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 -14.50 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 December of 2020.
GDP Annual Growth Rate in Chile is expected to be -6.00 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 6.50 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.