ChileChapters
Prior to the arrival of the Spanish in the 16th century, the Inca ruled northern Chile while an indigenous people, the Mapuche, inhabited central and southern Chile. Although Chile declared its independence in 1810, it did not achieve decisive victory over the Spanish until 1818. In the War of the Pacific (1879-83), Chile defeated Peru and Bolivia to win its present northern regions. In the 1880s, the Chilean central government gained control over the central and southern regions inhabited by the Mapuche. After a series of elected governments, the three-year-old Marxist government of Salvador ALLENDE was overthrown in 1973 by a military coup led by General Augusto PINOCHET, who ruled until a democratically-elected president was inaugurated in 1990. Sound economic policies, maintained consistently since the 1980s, contributed to steady growth, reduced poverty rates by over half, and helped secure the country's commitment to democratic and representative government. Chile has increasingly assumed regional and international leadership roles befitting its status as a stable, democratic nation.
Source: The CIA World Factbook - Chile
Key indicators
- Area
- 756,102 km2
- Population
- 18,307,925 (July 2021 est.)
- Government type
- presidential republic
- Languages
- Spanish 99.5% (official), English 10.2%, indigenous 1% (includes Mapudungun, Aymara, Quechua, Rapa Nui), other 2.3%, unspecified 0.2%; note - shares sum to more than 100% because some respondents gave more than one answer on the census (2012 est.)
- GDP
- $252.94 billion (2017 est.)
- Growth rate
- -5.8% (2020 est.)
- HDI
- 43
- Capital
- Santiago
Macroeconomic indicators
Growth is projected to remain strong over the next two years. With an uncertain external environment, solid domestic demand will underpin growth, aided by a stable inflation environment, public infrastructure projects and a tax reform. Inequality, though decreasing, remains high as informality and unemployment remain high and social transfers low.
The central bank has started to tighten monetary policy gradually and is projected to continue doing so as stronger wages and reduced labour market slack start putting pressure on prices. The planned gradual fiscal consolidation is appropriate and will stabilise the public debt-to-GDP ratio in the short-term. However, social spending and public investment needs may require higher revenues. Improving skills, integrating the recent flow of migrants, streamlining licencing and regulations, and increasing competition in network services are key for stronger and more inclusive growth.
Source: OECD - Economic Forecast
IMF Statistics:
| Subject descriptor | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
|
Gross domestic product, constant prices Percent change (Units) |
11.334 |
2.059 |
0.219 |
1.983 |
2.534 |
|
Gross domestic product, current prices Percent change (Billions) |
315.601 |
302.160 |
335.658 |
333.760 |
374.753 |
|
Gross domestic product per capita, current prices Percent change (Units) |
16,037.956 |
15,238.627 |
16,815.783 |
16,616.231 |
18,545.759 |
|
Inflation, average consumer prices Percent change (Units) |
4.524 |
11.645 |
7.583 |
3.180 |
3.000 |
|
Volume of imports of goods and services Percent change (Units) |
31.626 |
2.027 |
-11.694 |
4.148 |
4.498 |
|
Volume of exports of goods and services Percent change (Units) |
-1.547 |
0.971 |
0.082 |
6.168 |
5.017 |
|
Unemployment rate Percent change (Units) |
8.862 |
7.878 |
8.840 |
8.713 |
8.081 |
|
Current account balance Percent change (Billions) |
-22.960 |
-26.163 |
-11.901 |
-13.162 |
-13.708 |
|
Current account balance Percent change (Units) |
-7.275 |
-8.659 |
-3.546 |
-3.944 |
-3.658 |
Estimates
Source: IMF Statistics
Relationships with Luxembourg
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.
None
Air Services agreement
- Agreement from 25 February 2002
Not ratified by Luxembourg yet (Transport for preparing the explanatory statement)
Further information
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
Honorary Consul with jurisdiction over theRepublic of Chile: Mr Juan Manuel FUENTES
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: Office du Ducroire - Country Risk for Chile / Euler Hermes Country rating Chile
Other useful links
- Luxembourg-Chile Chamber of Commerce
- CIA World factbook about Chile
- ELAN biz: European and Latin American Business services
- ELAN Network: European and Latin American Technology based Business network
- The Latin America IPR SME Helpdesk
- Le Chili sur le site de l'AWEX
- Le Chili sur le site de Business France
- Chambre de Commerce Franco-Chilienne
- Prochile: Chile Promotion Agency
- InvestChile Investor's guide