Chile

Macroeconomic rebalancing under way but political uncertainty is on the rise

BB2

MEDIUM RISK

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in January 2023.

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GDP USD 317bn (World ranking 42, World Bank 2021)
Population 19.2mn (World ranking 61, World Bank 2021)
Form of state Presidential republic
Head of state Gabriel Boric (President)
Next elections 2025, presidential and legislative
  • Natural resource base: Chile is the largest copper producer in the world, but also benefits from other minerals, forestry and agriculture
  • Strong medium-term growth
  • Business-friendly environment
  • Sound macroeconomic policy framework
  • Widely accepted, democratic political system with successive peaceful transfers of power
  • Classified as an OECD high-income economy
  • Sensitive to commodity prices, particularly copper
  • High level of income inequality
  • Numerous strikes and political street protests could trigger instability

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
China 38.8%
1
29.9% China
United States 15.8%
2
17.4% United States
Japan 7.7%
3
8.4% Brazil
South Korea 5.1%
4
5.3% Argentina
Brazil 4.8%
5
3.2% Germany

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Metalliferous ores and metal scrap 36.4%
1
11.2% Road vehicles
Non-ferrous metals 25.7%
2
10.4% Petroleum, petroleum products and related materials
Vegetables and fruits 8.1%
3
5.6% Telecommunication and sound recording apparatus
Fish, crustaceans, molluscs and preparations thereof 6.6%
4
4.2% Electrical machinery, apparatus and appliances, n.e.s.
Pulp and waste paper 2.9%
5
4.2% Other industrial machinery and parts
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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