Chile

The Chilean economy grew by 6% in 1993, its tenth consecutive year of expansion, while at the same time inflation went down to 12% per year, and unemployment to historically low levels and surpluses were maintained in public accounts. A substantial deterioration in the terms of trade led to a foreign trade deficit of around 2% of output, the first in nine years. As a result, the deficit on the current account of the balance of payments grew to represent 5% of gross domestic product (GDP), a gap which was amply covered by new, mainly medium-term foreign capital inflows. The continuing contribution of external saving and the expansion of domestic saving made it possible to allocate 23% of output to investment (in 1980 dollars), a figure approaching a historic high, in a year ending with presidential and parliamentary elections.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions