r in 1990, retained the
economic policies of PINOCHET, although the share of spending for social
welfare has risen steadily. In 1991 growth in GDP recovered to 6% (led by
consumer spending) after only 2% growth in 1990. The pace accelerated in
1992 as the result of strong investment and export growth, and GDP rose
10.4%. Nonetheless, inflation fell further, to 12.7%, compared with 27.3% in
1990 and 18.7% in 1991. The buoyant economy spurred a 25% growth in imports,
and the trade surplus fell in 1992, although international reserves
increased. Inflationary pressures are not expected to ease much in 1993, and
economic growth is likely to approach 7%.
National product:
GDP - exchange rate conversion - $34.7 billion (1992 est.)
National product real growth rate: 10.4% (1992)
National product per capita:
$2,550 (1992)
Inflation rate (consumer prices):
12.7% (1992)
Unemployment rate:
4.9% (1992)
Budget:
revenues $10.9 billion; expenditures $10.9 billion, including capital
expenditures of $1.2 billion (1993)
Exports:
$10 billion (f.o.b., 1992)
commodities:
copper 41%, other metals and minerals 8.7%, wood products 7.1%, fish and
fishmeal 9.8%, fruits 8.4% (1991)
partners:
EC 32%, US 18%, Japan 18%, Brazil 5% (1991)
Imports:
$9.2 billion (f.o.b., 1992)
commodities:
capital goods 25.2%, spare parts 24.8%, raw materials 15.4%, petroleum 10%,
foodstuffs 5.7%
partners:
US 21%, EC 18%, Brazil 9%, Japan 8% (1991)
External debt:
$16.9 billion (year end 1991)
Industrial production:
growth rate 14.56% (1992); accounts for 34% of GDP
Electricity:
5,769,000 kW capacity; 22,010 million kWh produced, 1,630 kWh per capita
(1992)
Industries:
copper, other minerals, foodstuffs, fish processing, iron and steel, wood
and wood products, transport equipment, cement, textiles
Agriculture:
accounts for about 9% of GDP (including fishing and forestry); major
exporter of fruit, fish, and timber products; major crops - wheat, corn,
grapes, beans, sugar beets, potatoes, deciduous fruit; livestock products -
beef, poultry, wool; self-sufficient in most foods; 1991 fish catch of 6.6
million metric tons; net agricultural importer
Economic aid:
US commitments, including Ex-Im (FY70-89), $521 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $1.6 billion;
Communist countries (1970-89), $386 million

*Chile, Economy

Currency: