OECD Economic Surveys: Chile 2021

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 by the Committee on 16 and 17 July 2020. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 3 August 2020.

The Secretariat’s draft report was prepared for the Committee by Nicolas Ruiz and Paula Garda under the supervision of Piritta Sorsa. Statistical research assistance was provided by Marnix Dek and editorial coordination by Carolina Gonzalez. The Survey also benefitted from contributions by Jessica Mena, Mauricio Hitschfeld and Clara Marköö.

The previous Survey of Chile was issued in 26 February 2018.

Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at http://www.oecd.org/eco/surveys.

Basic statistics of Chile 2019

(Numbers in parentheses refer to the OECD average)1

LAND, PEOPLE AND ELECTORAL CYCLE
Population (million, 2018)	18.7		Population density per km² (2018)	25.2	(37.8)
Under 15 (%, 2018)	19.8	(17.8)	Life expectancy at birth (years, 2018)	80.0	(80.2)
Over 65 (%, 2018)	11.5	(17.1)	Men (2018)	77.6	(77.6)
Foreign born (%, 2015)	2.6		Women (2018)	82.4	(82.8)
Latest 5-year average growth (%)	1.3	(0.6)	Latest general election	November 2017
ECONOMY
Gross domestic product (GDP)			Value added shares (%, 2018)
In current prices (billion USD)	282.8		Agriculture, forestry and fishing	4.0	(2.5)
In current prices (billion CLP)	198 440.7		Industry including construction	32.8	(27.3)
Latest 5-year average real growth (%)	2.1	(2.2)	Services	63.3	(70.2)
Per capita (000 USD PPP, 2018)	24.8	(46.4)
GENERAL GOVERNMENT Per cent of GDP
Expenditure (2018)	25.4	(40.3)	Gross financial debt (OECD: 2017)	37.2	(109.0)
Revenue (2018)	23.9	(37.3)	Net financial debt (OECD: 2017)	7.1	(69.0)
EXTERNAL ACCOUNTS
Exchange rate (CLP per USD)	701.76		Main exports (% of total merchandise exports)
PPP exchange rate (USA = 1)	415.68		Crude materials, inedible, except fuels	36.9
In per cent of GDP			Manufactured goods	26.0
Exports of goods and services	28.2	(54.2)	Food and live animals	22.8
Imports of goods and services	28.6	(50.4)	Main imports (% of total merchandise imports)
Current account balance	-3.9	(0.3)	Machinery and transport equipment	36.1
Net international investment position	-23.7		Mineral fuels, lubricants and related materials	16.0
			Manufactured goods	12.3
LABOUR MARKET, SKILLS AND INNOVATION
Employment rate (aged 15 and over, %)	55.2	(57.5)	Unemployment rate, Labour Force Survey (aged 15 and over, %)	7.0	(5.4)
Men	65.3	(65.6)	Youth (aged 15-24, %, 2018, OECD: 2019)	17.6	(11.7)
Women	45.5	(49.9)	Long-term unemployed (1 year and over, %)	1.2	(1.4)
Participation rate (aged 15 and over, %)	59.4	(61.1)	Tertiary educational attainment (aged 25-64, %, 2017, OECD: 2018)	25.2	(36.9)
Average hours worked per year (2018)	1,941	(1,734)	Gross domestic expenditure on R&D (% of GDP, 2016, OECD: 2017)	0.4	(2.6)
ENVIRONMENT
Total primary energy supply per capita (toe, 2018)	2.1	(4.1)	CO2 emissions from fuel combustion per capita (tonnes, 2018)	4.7	( 8.9)
Renewables (%, 2018)	27.5	(10.5)	Renewable internal freshwater resources per capita (1 000 m³, 2014)	49.8
Exposure to air pollution (more than 10 μg/m³ of PM 2.5, % of population, 2017)	97.3	(58.7)	Municipal waste per capita (tonnes, 2017, OECD: 2018)	0.4	(0.5)
SOCIETY
Income inequality (Gini coefficient, 2017, OECD: 2016)	0.460	(0.310)	Relative poverty rate (%, 2017, OECD: 2016)	16.5	(11.6)
Median disposable household income (000 USD PPP, 2017, OECD: 2016)	9.6	(23.9)	Education outcomes (PISA score, 2018)
Public and private spending (% of GDP)			Reading	452	(487)
Health care (2018)	8.9	(8.8)	Mathematics	417	(489)
Pensions (2017, OECD: 2015)	4.4	(8.5)	Science	444	(489)
Education (% of GNI, 2018)	4.6	(4.5)	Share of women in parliament (%)	22.6	(30.7)

1. The year is indicated in parenthesis if it deviates from the year in the main title of this table. 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 80% of member countries.

Source: Calculations based on data extracted from databases of the following organisations: OECD, IEA, ILO, IMF, World Bank.