Chile

Rebalancing

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 2024.

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GDP USD 301.0bn (World ranking 46, World Bank 2022)
Population 19.6mn (World ranking 64, World Bank 2022)
Form of state Presidential republic
Head of state Gabriel Boric (President)
Next elections 2025, General
  • 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
  • Statist policies will increase the cost of doing business
  • Rising political polarization
  • Could benefit from a more inclusive skilled workforce

Trade structure by destination/origin

(% of total, 2022)

Exports Rank Imports
China 39.4%
1
25.3% China
United States 13.9%
2
20.9% United States
Japan 7.6%
3
9.7% Brazil
South Korea 6.2%
4
5.8% Argentina
Brazil 4.6%
5
2.7% Germany

Trade structure by product

(% of total, 2022)

Exports Rank Imports
Metalliferous ores and metal scrap 27.5%
1
16.7% Petroleum, petroleum products and related materials
Non-ferrous metals 22.5%
2
11.3% Road vehicles
Inorganic chemicals 10.9%
3
4.1% Other industrial machinery and parts
Vegetables and fruits 8.1%
4
3.8% Articles of apparel & clothing accessories
Fish, crustaceans, molluscs and preparations thereof 8.1%
5
3.4% Specialised machinery
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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