Overview: In 1988 the economy grew at the rate of 6.8%, reflecting higher growth in the fishing, agricultural, and manufacturing sectors, which together account for over a third of GDP. Despite a slowdown in the mining industry, copper remains Chile's principal export and accounts for nearly 50% of export revenues. Rates for unemployment and inflation have decreased from their peaks of 1982 to 7.1% and 12.7%, respectively, in 1988. The major problem facing the economy is how to sustain growth in the face of political uncertainties.

GDP: $19.4 billion, per capita $1,520; real growth rate 6.8% (1988 est.)

Inflation rate (consumer prices): 12.7% (1988 est.)

Unemployment rate: 7.1% (1988 est.)

Budget: revenues $4.9 billion; expenditures $5.1 billion, including capital expenditures of $0.6 billion (1986)

Exports: $6.9 billion (f.o.b., 1988); @m5commodities--copper 48%, industrial products 33%, molybdenum, iron ore, wood pulp, fishmeal, fruits; @m5partners--EC 34%, US 22%, Japan 10%, Brazil 7%

Imports: $4.8 billion (f.o.b., 1988); @m5commodities--petroleum, wheat, capital goods, spare parts, raw materials; @m5partners--EC 23%, US 20%, Japan 10%, Brazil 9%

External debt: $17.8 billion (December 1988)

Industrial production: growth rate 8.5% (1988 est.)

Electricity: 3,987,000 kW capacity; 15,577 million kWh produced, 1,230 kWh per capita (1988)

Industries: copper, other minerals, foodstuffs, fish processing, iron and steel, wood and wood products

Agriculture: wheat, potatoes, corn, sugar beets, onions, beans, fruits; net agricultural importer

Aid: NA

Currency: Chilean peso (plural--pesos); 1 Chilean peso (Ch$) = 100 centavos

Exchange rates: Chilean pesos (Ch$) per US$1--247.04 (January 1989), 245.05 (1988), 219.54 (1987), 193.02 (1986), 161.08 (1985)

Fiscal year: calendar year

NOTE: The information regarding Chile on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Chile Economy 1989 information contained here. All suggestions for corrections of any errors about Chile Economy 1989 should be addressed to the CIA.