Overview: In 1989 the economy grew at the rate of 9.9%, reflecting substantial growth in industry, agriculture, and construction. Copper accounts for nearly 50% of export revenues; Chile's economic well-being thus remains highly dependent on international copper prices. Unemployment and inflation rates have declined from their peaks in 1982 to 5.3% and 21.4%, respectively, in 1989. The major long-term economic problem is how to sustain growth in the face of political uncertainties.

GDP: $25.3 billion, per capita $1,970; real growth rate 9.9% (1989)

Inflation rate (consumer prices): 21.4% (1989)

Unemployment rate: 5.3% (1989)

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

Exports: $7.0 billion (f.o.b., 1988); commodities--copper 48%, industrial products 33%, molybdenum, iron ore, wood pulp, fishmeal, fruits; partners--EC 34%, US 22%, Japan 10%, Brazil 7%

Imports: $4.7 billion (f.o.b., 1988); commodities--petroleum, wheat, capital goods, spare parts, raw materials; partners--EC 23%, US 20%, Japan 10%, Brazil 9%

External debt: $16.3 billion (December 1989)

Industrial production: growth rate 7.4% (1989)

Electricity: 4,044,000 kW capacity; 17,710 million kWh produced, 1,380 kWh per capita (1989)

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

Agriculture: accounts for about 8% of GDP (including fishing and forestry); major exporter of fruit, fish, and timber products; major crops--wheat, corn, grapes, beans, sugar beets, potatoes, deciduous fruit; livestock products--beef, poultry, wool; self-sufficient in most foods; 1986 fish catch of 5.6 million metric tons net agricultural importer

Aid: US commitments, including Ex-Im (FY70-88), $521 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $1.3 billion; Communist countries (1970-88), $386 million

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

Exchange rates: Chilean pesos (Ch$) per US$1--296.68 (January 1990), 267.16 (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 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Chile Economy 1990 information contained here. All suggestions for corrections of any errors about Chile Economy 1990 should be addressed to the CIA.