The Chilean Economy: A General Profile
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Date
2025
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Springer Science and Business Media B.V.
Abstract
© The Author(s), under exclusive license to Springer Nature Switzerland AG 2025.This chapter provides a comprehensive overview of the Chilean economy, detailing its current state, historical development, institutional frameworks, and economic policies. It also discusses recent advancements, challenges, and future opportunities for growth and development. Chile’s GDP in 2023 was nearly US$ 330 billion, with a per capita figure of over US$ 30,000 in PPP terms. The country’s economy is highly integrated into international trade, with exports and imports comprising 75% of GDP. Chile exhibits high social indicators such as life expectancy (81.4 years) and literacy rate (96.4%), but income inequality remains a significant issue, as reflected by a Gini coefficient of 0.46. Since the military coup in 1973, Chile has undergone extensive economic reforms, including trade liberalization, privatization, and the establishment of a market economy. These reforms have significantly shaped the current economic landscape. Post-1990 democratic governments focused on “growth with equity,” maintaining market-oriented policies while increasing social spending to address high poverty rates and improve social equity. The autonomous Central Bank of Chile has been instrumental in achieving and maintaining low and stable inflation rates, which is crucial for economic stability and growth. Chile’s abundant natural resources, particularly in lithium and renewable energy, present significant opportunities for economic growth, especially in the context of global efforts to combat climate change.
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Chile, Economic sectors, Economy, Macroeconomic indicators, Policy reforms, Social indicators