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Chile's GDP grows barely 0.5 percent in the first half of 2017

Chile's Gross Domestic Product (GDP) grew 0.5% year-on-year in the first quarter of this year, after expanding 0.9% in the second quarter, the Bank reported today Central.

Chile's gross domestic product (GDP) grew 0.5% year-on-year in the first quarter of this year, after expanding by 0.9% in the first quarter of this year. Quarter, the Central Bank reported today.

In the first quarter, the growth of the Chilean economy was 0.1%, according to the data included in the National Accounts Report given to In terms of seasonally adjusted, the GDP rose in the second quarter by 0.7% compared to the previous, a result that was led by the advance of The sectors Personal Services and Commerce, while the main negative incidents came from Construction, Mining and Business Services. "

From the perspective of the Expenditure, the result of GDP is explained by an increase in domestic demand (3.9%), whose effect was slowed by the fall in net exports (-3.5%), says the Central Bank.

Is the lowest since 2009, when the Chilean economy contracted by 0.15% in the same period.

In the second quarter, spending increased by 3.9%, driven by consumption (2 Investment (22.1% of GDP), the first one led by household expenditure, while the greater investment is explained by an accumulation of inventories.

On the other hand, gross Fixed capital contracted by 4.1%, in response to lower investment in construction and other works.

In terms of foreign trade, exports fell 3.5% by a fall of Mining and industrial shipments, while imports increased by 7%, led by industrial goods.

By sector, second quarter growth was led by (9.5%), Communications (3.5%) and Commerce (3.4%), while Transport grew 0.8%, as did Agriculture, while the EGA sector (Electricity, gas 0.6%.

The manufacturing industry saw zero growth, while construction fell 3.7%, mining 3.0% and business services 2.0%. The central bank maintains its growth forecast in the range of 1.0 to 1.75%, while the government cut its July from 2.25 to 1.5%.

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