In 2008, the Chilean economy expanded at an annual rate of 3.2%, compared with 4.7% in 2007, as unemployment rose and annual inflation surged, driven by large increases in international prices, particularly for food and fuels, in the first three quarters of the year. Later, the outbreak of the global crisis that originated in the United States in September that year wrought great changes in external conditions that drastically curbed domestic and external demand in the last quarter of 2008 and the first quarter of 2009.

Related Subject(s): Economic and Social Development
Countries: Chile
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