The Economy
Chile is a country with an open and stable economic model that has allowed a constant strengthening of trade and investment in the last decades and that has allowed us to make great progress, such as having the highest GDP per capita (PPP) in South America.
Our country has also become one of the most competitive countries to invest in since 1998, according to the World Economic Forum ranking, which has allowed us to open doors such as being the first South American economy to join the OECD.
Thanks to the establishment of serious and autonomous institutions, such as the Central Bank, Chile has been able to successfully overcome the latest global economic crises. The concern for inflation control, the promotion of investment and savings, and the respect for the fiscal rule are key elements that have allowed our country to move towards healthy economic patterns.
This institution is in charge of controlling the country's monetary policy and the conditions of the payment methods. It is composed of five members (appointed by the President in agreement with the Senate) and is headed by a president.
FINANCIAL DISCLOSURE
In the last few years, several innovation processes have allowed for greater competition in the financial sector. This has translated into a sophisticated and effective financial network that stands out in the region.
In addition, the consolidation of a modern banking system (where new players such as Fintech and financial companies are appearing) has allowed the development of areas such as insurance companies, leasing, stock exchanges, risk rating agencies and foreign investment and capital funds.
OPEN-DOOR FOREIGN TRADE
As part of its trade policy, Chile is a country that promotes free commerce and is constantly seeking to update and conclude trade agreements with other countries and blocs.
Chile has the most powerful network of Free Trade Agreements in the world. The 30 treaties, with 65 economies, are equivalent to 88% of the world's GDP, providing access, under preferential conditions, to 65% of the world's population.
According to data from the Undersecretariat of International Economic Relations (SUBREI) and the Central Bank, during 2021 alone, Chile's trade exchange rose to US$ 186,548 million, increasing by 41% compared to 2020.
In addition, exports recorded transactions of US$ 94,705 million (29% more than in 2020), while imports reached US$ 91,843 million (55% more than in 2020).