ChileKapitel
Chile has a track record of sound macroeconomic policies and robust institutions, which enabled it to restore macroeconomic balance after the disruptions created by COVID-19 and its aftermath. Over the past decade, growth averaged 2 percent, while productivity stagnated, constraining the creation of better and higher-paying jobs.
In terms of regional and international finance and partnerships to catalyse international resources, Chile has strategically engaged in international co‑operation through the Chilean International Co‑operation Agency. The agency leads efforts to support development initiatives focused on the eradication of poverty, the reduction of inequality and sustainable development. Emphasising South-South co‑operation, Chile shares experiences and policies with LAC nations, fostering mutual development. Additionally, Chile collaborates with countries such as Colombia, Mexico, and Germany, and with the Economic Commission for Latin America and the Caribbean, to bolster feminist foreign policies and international co‑operation for development. This collaboration aims to enhance the capacities of ministries of foreign affairs and international co‑operation agencies. Furthermore, partnerships with international financial institutions like the European Investment Bank and the CAF demonstrate commitments to regional development, environmental protection, energy transition and digital connectivity.
Source: The World Bank, OECD
Kennzahlen
- Fläche
- 756,102 km2
- Bevölkerung
- 19,658,835 (2023)
- Regierungsform
- presidential republic
- Sprachen
- Spanish 99.3% (official), English 10.2%, indigenous 1% (includes Mapudungun, Aymara, Quechua, Rapa Nui)
- BIP
- $335.53 billion (2023)
- Wachstumsrate
- 0.2% (2023)
- HDI
- 44
- Hauptstadt
- Santiago
Makroökonomische Indikatoren
Real GDP grew 1.9 percent y-o-y in the first half of 2024, largely driven by the mining sector. Gender gaps in the labor market deepened. Unemployment fell to 7.9 percent for men but rose to 9.0 percent for women. Job quality deteriorated, especially among women, with informality reaching levels of 26.9 and 29.9 percent for men and women, respectively. The inflation reduction trajectory since the peak in 2022 hit a bump in March 2024 when inflation started rising again and reached 4.7 y-o-y in August.
In 2024 real GDP growth is expected at 2.5 percent and will converge to potential in 2025 and 2026. The successive adjustments to electricity tariffs will keep inflation above 4 percent in the coming quarters, returning to the 3 percent target by the first half of 2026. Poverty (US$6.85/day, 2017 PPP) and income inequality are estimated to remain around 5 percent and 43 Gini points in 2024, respectively, and fall gradually thereafter.
Reforms focusing on reducing regulatory barriers, fostering technology adoption, promoting competition, improving education and managerial capabilities, and increasing female labor force participation and job quality could help raise potential growth. Chile is expected to benefit from the green transition given its potential for renewable energy and endowment with copper and lithium, critical inputs to electrification.
Source: The World Bank
IMF Statistics:
| Subject descriptor | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
|
Gross domestic product, constant prices Percent change (Units) |
11.334 |
2.059 |
0.219 |
2.462 |
2.379 |
|
Gross domestic product, current prices U.S. dollars (Billions) |
315.601 |
302.160 |
335.642 |
328.720 |
362.240 |
|
Gross domestic product per capita, current prices U.S. dollars (Units) |
16,037.956 |
15,238.627 |
16,814.973 |
16,365.296 |
17,926.521 |
|
Inflation, average consumer prices Percent change (Units) |
4.524 |
11.645 |
7.583 |
3.898 |
4.196 |
|
Volume of imports of goods and services Percent change (Units) |
31.627 |
2.038 |
-11.619 |
1.272 |
6.266 |
|
Volume of exports of goods and services Percent change (Units) |
-1.411 |
1.032 |
0.156 |
4.078 |
5.275 |
|
Unemployment rate Percent of total labor force (Units) |
8.862 |
7.878 |
8.681 |
8.484 |
8.033 |
|
Current account balance U.S. dollars (Billions) |
-22.960 |
-26.163 |
-11.901 |
-7.460 |
-9.924 |
|
Current account balance Percent of GDP (Units) |
-7.275 |
-8.659 |
-3.546 |
-2.270 |
-2.740 |
Estimates
Source: IMF Statistics
Luxemburg und das Land
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
Agreement under negotiation
Air Services agreement
- Agreement from 25 February 2002
Not ratified by Luxembourg yet (Transport for preparing the explanatory statement)
Weitere Informationen
Foreign Trade
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact points in Chili
Luxembourg is represented by Ambassador with residence in Brazil: Mr Carlo KRIEGER
SHIS QL 12, conjunto 5, casa 18
Lago Sui
71630-255 Brasília/DF .
Brazil
Tel.: (+55) 61 3551 7741
E-Mail: brasilia.amb@mae.etat.lu
Honorary consul
Santiago
Mr Juan Manuel FUENTES VALENZUELA
Honorary Consul with jurisdiction over the Republic of Chile
Arturo Claro 1465
Providencia Santiago
Chile
Tel.: (+56) 9 9821 8016
E-Mail: santiago@consul-hon.lu
Source: Ministry of Foreign Affairs Luxembourg
Country risk as defined by Office du Ducroire for Chile
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Link: Ducroire Office - Country Risk for Chile / Euler Hermes Country rating Chile