Chile

Chile is a democratic state with presidential system of government and bicameral legislature. Located in the southern part of South America, Chile is the 45th largest economy in the world (by GDP PPP) as well as the largest producer and exporter of copper in the world. OECD has classified Chile as a high-income economy. Around 55% of Chile’s merchandise exports are directed to just three markets (China, United States and the European Union). Total trade amounts to 30% of GDP. The central bank, Banco Central de Chile (CBC) pursues an inflation-targeting approach to monetary policy and maintains a free floating exchange rate regime. Chilean peso is closely correlated with the prices for key export commodities – notably, copper. Economic weaknesses include: high income inequality and sensitivity to copper prices.

Names and Codes
Country Name Chile
Country code CHL
Currency Name Chilean peso
Currency Code CLP
Currency Symbol Ps
Subunit Ps1 = 100 centavos
Key Pair USD/CLP
Forex Quote direct
Central Bank Name Central Bank of Chile
Central Bank Abb. CBC
Economy and Trade
GDP (USD billion, 2017) 277
GDP per capita (USD, PPP, 2017) 24080
Real GDP growth (2013-17) 2.2
Inflation (2013-17) 3.3
FDI inflows (% GDP, 2013-17) 6.5
Current account balance (% GDP, 2013-17) -2.2
Trade (% GDP, 2014-16) 30.1
Share in world total exports (%, 2016) 0.38
Monetary Policy and Currency
Exchange rate regime Free floating
Monetary policy Inflation targeting
Price stability 3.00%
Real Interest Rate 0.59
Currency - global turnover (USD billion, 2016) 10
Currency - global share (%, 2016) 0.20
Key Pair - global turnover (USD billion, 2016) n/a
Key Pair - global share (%, 2016) N/A
Ranking - Economy
GDP per capita (USD, PPP, 2017)
Real GDP growth (2013-17)
Current account balance (% GDP, 2013-17)
Trade (% GDP, 2014-16)
Ranking - Currency and Monetary Policy
Currency - global turnover (USD billion, 2016)
Key Pair - global turnover (USD billion, 2016)
Real Interest Rate
Inflation (2013-17)
International Trade
Main Export (%, 2015)
Main Import (%, 2015)