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Chile's GDP grew 2.2% in the third semester of 2017

The Gross Domestic Product of Chile grew 2.2% year-on-year in the third quarter of this year, in line with the expectations of the market and experts, as reported by the Central Bank today.

Santiago, Chile, November 20 (EFE) .- The Gross Domestic Product of Chile grew 2.2% year-on-year in the third quarter of this year, in line with the expectations of the market and the experts, as reported by the Central Bank today.

The figure represents an acceleration in the pace of economic activity in the southern country, whose GDP scored an increase of just 0.1% in the first quarter of 2017 and 1.0% in the second.

With the result of the third quarter, the Chilean economy accumulated an expansion of 1.1% year-on-year between January and September of the 2017.

According to the report, in seasonally adjusted terms, GDP registered an increase of 1.5% compared to the previous quarter. percentage, after registering two working days less than in the third quarter of 2016.

The main factor of growth was in Mining, which after two years in red scored a year-on-year growth of 7.5%, followed by Personal Services (3.1%) and Commerce (4.4%), partially offset by a 6.0% fall in the Construction sector, the Bank said. Central.

In terms of spending, GDP was driven by domestic demand, which grew by 2.5% year-on-year after having expanded by 3.8% in the previous quarter, a driven result mainly by the consumption of households (1.9%) and, to a lesser extent, by investment (0.8%).

The gross national disposable income increased by 3.8%, driven by a terms of trade, while the total gross saving amounted to 22% of GDP in nominal terms, with a national saving rate of 19.7% of the product and an external saving of 2.2% of the GDP, corresponding to the deficit of the current account of the balance of payments.

Meanwhile, exports increased 3.0% year-on-year in the third quarter, reversing three quarters in red, while imports grew by 4.4% compared to the same period of 2016, confirming the positive trend shown since the end of last year.

The Central Bank He also indicated that in line with the policy of reviewing national accounts, the GDP growth rate remained at 0.1% in the first quarter and increased from 0.9% to 1.0% in the second quarter.

Last year Chile's GDP grew 1.6% and by 2017 official and private forecasts agree that it will close at 1.5%, although with good Expectations for 2018, when according to the Central Bank will grow in a range of between 2.5 and 3.5%, while the government is betting on an expansion of 3.0%.

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