Chile

The year 2003 marked an upturn for the Chilean economy, whose growth was once again led by exports. Real growth amounted to 3.3%, as against the 2.2% posted in 2002. Inflation gradually declined in the course of the year, partly because of the substantial appreciation of the peso, while keen competition in the retail sector resulted in smaller mark-ups and lower prices. Over the 12 months ending in December 2003 inflation amounted to only 1.1 %, which was almost a full point lower than the bottom of the target range (2% to 4%) set by the central bank for 2003.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions