Chile

Alex Dilabio

Overall Score 78.5 World Rank 7

Chile Quick Facts/United States

  • Population 17.6 million/316.4 million
  • GDP 334.8 billion/16.8 trillion
  • GDP Growth 4.2%/1.9%
  • GDP Growth Capita $19,067/$53,101
  • Unemployment 5.9%/7.5%
  • Inflation 1.8%/1.5%
  • Foreign Direct Investment $20.3 billion/187.5 billion

Legal System

Chile is the least corrupt country in South America. Courts are free from political interference. Property rights and contracts are respected. Chile has an independent and competent judiciary. Chile is the second in the world in protecting property rights.

Competitve Markets

Chile is the world's leader of producing copper. Chile participates in the Trans-Pacific Partnership. It has the highest degree in economic freedom in South America and Central America region. Chile is the first to join the Organization for Economic Co-operation and Development. The country is renewing commitment to trade and investment.

Limits on Government Regulation

Labor regulations are rigid. To start a business it takes seven procedures. Government price supports are five percent. Their are broad wage settlements and high unionization. The regulatory regime has business formation and operations.

An Efficient Capital Market

Chile has a four percent tariff rate. The country is very open to foreign investment. Credit issued on market terms. A well-capitalized and dynamic banking sector provides a wide range of services. Most imports enter duty-free.

Monetary Stability

Inflation is only one point eight percent. Public debt is low. Budget deficits are kept under control. There are large gains in the investment climate. Powerhouse in imports and exports.

Low Tax Rates

The top individual income tax rate remains forty percent, and the top corporate tax rate is 20 percent. The total tax burden is equivalent to 18.8 percent of domestic income. Government expenditures equal 23.6 percent of total domestic output. Public debt amounts to less than 15 percent of gross domestic product. There are property taxes.

Free Trade

There is lots of foreign trade. Imports and exports are very consistent. Free trade has increased twenty percent over the last twenty years. Investment is mostly free of regulation. Price restrictions are subtle.
Chilean spending boost will help economy grow near 3.6% in 2015 - Arenas
Chile's economy is expected to increase three point six percent this year. The spending boost has helped the economy grow by two percent last year. This year it is predicted again but with an increase in the spending to make it three point six percent in economic growth.
Chile Information

For more information on Chile check out this website