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![]() ![]() Chile Economy 1997https://photius.com/wfb1997/chile/chile_economy.htmlSOURCE: 1997 CIA WORLD FACTBOOK Economy - overview Chile has a prosperous, essentially free market economy. Civilian governments- which took over from the military in March 1990 - have continued to reducethe government's role in the economy while shifting the emphasis of publicspending toward social programs. Growth in real GDP averaged more than 6.5%in 1991-1996, and inflation is nearing a 40-year low. Chile's currency andforeign reserves also are strong, as sustained foreign capital inflows - drivenin part by state privatizations - have more than offset occasional currentaccount deficits and public debt buybacks. President FREI, who took officein March 1994, has placed improving Chile's education system and developingforeign export markets at the top of his economic agenda. Despite this progress,the Chilean economy remains largely dependent on a few sectors - particularlycopper mining, fishing, and forestry. Success in meeting the government'sgoal of sustained annual economic growth of 5% depends largely on world pricesfor these commodities, continued foreign investor confidence, and the government'sability to maintain a conservative fiscal stance. In 1996, Chile became anassociate member of Mercosur and concluded a Free Trade Agreement with Canada. GDP purchasing power parity - $120.6 billion (1996 est.) GDP - real growth rate 6.5% (1996 est.) GDP - per capita purchasing power parity - $8,400 (1996 est.) GDP - composition by sector
Inflation rate - consumer price index 6.7% (1996 est.) Labor force
Unemployment rate 6.5% (1996 est.) Budget
Industries copper, other minerals, foodstuffs, fish processing, iron and steel,wood and wood products, transport equipment, cement, textiles Industrial production growth rate 4.8% (1995) Electricity - capacity 5.964 million kW (1995) Electricity - production 27.908 billion kWh (1995) Electricity - consumption per capita 1,662 kWh (1995 est.) Agriculture - products wheat, corn, grapes, beans, sugar beets, potatoes, fruit; beef, poultry,wool; timber; 1991 fish catch of 6.6 million metric tons Exports
Imports
Debt - external $22.3 billion (1995 est.) Economic aid
Currency 1 Chilean peso (Ch$) = 100 centavos Exchange rates Chilean pesos (Ch$) per US$1 - 423.79 (January 1997), 412.27(1996),396.78 (1995), 420.08 (1994), 404.35 (1993), 362.59 (1992) Fiscal year
calendar year
NOTE: The information regarding Chile on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Chile Economy 1997 information contained here. All suggestions for corrections of any errors about Chile Economy 1997 should be addressed to the CIA. |
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