OECD Economic Surveys: Chile 2018

Abstract

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of Chile were reviewed at a meeting of the Economic and Development Review Committee on 6 December 2017. The draft was revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 22 December 2017.

The Secretariat’s draft report was prepared for the Committee by Antoine Goujard, Paula Garda and Andrés Sansone, under the supervision of Piritta Sorsa. Statistical research assistance was provided by Pedro Herrera Giménez and editorial assistance by Carolina González.

The previous Survey of Chile was issued in November 2015.

Basic statistics of Chile, 2016

(Numbers in parentheses refer to the OECD average)1

LAND, PEOPLE AND ELECTORAL CYCLE
Population (million)	18.0		Population density per km²	24.6	(37.2)
Under 15 (%)	20.8	(17.9)	Life expectancy (years, 2015)	79.1	(80.5)
Over 65 (%)	10.6	(16.6)	Men	76.5	(77.9)
Foreign-born (%, 2014)	2.6		Women	81.7	(83.1)
Latest 5-year average growth (%)	0.9	(0.6)	Latest general election	November 2017
ECONOMY
Gross domestic product (GDP)			Value added shares (%)
In current prices (billion USD)	247.0		Primary sector	4.3	(2.5)
In current prices (billion CLP)	167 227		Industry including construction	31.3	(26.6)
Latest 5-year average real growth (%)	3.0	(1.8)	Services	64.4	(70.9)
Per capita (000 USD PPP)	23.5	(42.1)
GENERAL GOVERNMENT2
Per cent of GDP
Expenditure	23.8	(41.6)	Gross financial debt	21.3	(108.5)
Revenue	21.1	(38.7)	Net financial debt	1.0	(69.9)
EXTERNAL ACCOUNTS
Exchange rate (CLP per USD)	676		Main exports (% of total merchandise exports)
PPP exchange rate (USA = 1)	390		Machinery and transport equipment	39.2
In per cent of GDP			Chemicals and related products, n.e.s.	16.6
Exports of goods and services	28.5	(53.9)	Miscellaneous manufactured articles	13.9
Imports of goods and services	27.6	(49.5)	Main imports (% of total merchandise imports)
Current account balance	-1.4	(0.2)	Machinery and transport equipment	35.9
Net international investment position (2014)	-13.7		Miscellaneous manufactured articles	15.0
			Chemicals and related products, n.e.s.	11.2
LABOUR MARKET, SKILLS AND INNOVATION
Employment rate for 15-64 year-olds (%)	62.2	(66.9)	Unemployment rate, Labour Force Survey (age 15 and over) (%)	6.5	(6.3)
Men	72.4	(74.7)	Youth (age 15-24, %)	15.7	(13.0)
Women	52.0	(59.3)	Tertiary educational attainment 25-64 year-olds (%)3	22.5	(35.7)
Participation rate for 15-64 year-olds (%)	66.8	(71.7)	Gross domestic expenditure on R&D (% of GDP, 2015)	0.4	(2.4)
Average hours worked per year	1 974	(1 763)
ENVIRONMENT
Total primary energy supply p.c.(toe, 2014)	1.5	(4.1)	CO2 emissions from fuel combustion per capita (tonnes, 2014)	4.3	(9.4)
Renewables (%, 2014)	38.6	(9.6)	Municipal waste per capita (tonnes, 2015)4	0.4	(0.5)
Exposure to air pollution (more than 10 μg/m3 of PM2.5, % of population, 2015)	67.4	(75.2)
SOCIETY
Income inequality (Gini coefficient, 2015)	0.454	(0.311)	Relative poverty rate (%, 2015)	16.1	(11.3)
Median disposable household income (000 USD PPP, 2015)	10.0	(22.9)	Education outcomes (PISA score, 2015)
Public and private spending (% of GDP)			Reading	459	(493)
Health care	8.5	(9.0)	Mathematics	423	(490)
Pensions (2013)	4.4	(9.1)	Science	447	(493)
Education (primary, secondary, post sec. non tertiary, 2014)	3.1	(3.7)	Share of women in parliament (%)	15.8	(28.7)

1. Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries.

2. For Chile, data refer to Central Government.

3. For Chile, data refer to 2015.

4. For Chile, data refer to 2014.

Source: Calculations based on data from the OECD, IEA, World Bank, IMF, Inter-Parliamentary Union and DIPRES.