Chile Nature & Economy

Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy. Growth in real GDP averaged 8% during 1991-97. In the years since then, growth has averaged 4% per year, but fell to half that level in 1998 because of tight monetary policies implemented to keep the current account deficit in check and because of lower export earnings - the latter a product of the global financial crisis. Chile's economy has since recovered and has seen growth rates of 5-7% over the past several
years. In 2006, Chile became the country with the highest nominal GDP per capita in Latin America. Even though the exceptional Chilean economic results, its unequal income distribution remains a major challenge for the current and future administrations. Chile ranks 80th among the countries on the list of income distribution.The Global Competitiveness Report for 2007-2008 ranks Chile as being the 26th most competitive country in the world and the first in Latin America.

Location: Southern South America, bordering the South Pacific Ocean, between Argentina and Peru
Population: 16,341,000 ( 2012 est.)
Land Area: 756626 km2
Capital: Santiago
Main cities: Vina del Mar, Valparaiso, Talcahuano, Temuco, Concepcion,
Languages: Spanish
GDP: $277.023 billion (2013 est.)
Monetary unit: Chilean Peso
Exports: $76.648 billion f.o.b. (2014 est.)
Exports - commodities: copper, fruit, fish products, paper and pulp, chemicals, wine
Exports - partners: US 15.6%, Japan 10.5%, China 8.6%, Netherlands 6.7%, South Korea 5.9%, Italy 4.9%, Brazil 4.8%, France 4.2%(2006)
Imports: $72.347 billion f.o.b. (2014 est.)
Imports - commodities: petroleum and petroleum products, chemicals, electrical and telecommunications equipment, industrial machinery, vehicles, natural gas
Imports - partners: US 15.6%, Argentina 12.6%, Brazil 11.8%, China 9.7% (2006)
Land use:
arable land: 2.62%
permanent crops: 0.43%
other: 96.95% (2005)
Natural resources: copper, timber, iron ore, nitrates, precious metals, molybdenum, hydropower

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