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Waving Chile Flag.avif

Social and Economic Facts

Overview

The economy of Chile is heavily dependent on global trade with other countries. In fact, the exports of goods and services make up around an entire third of the country’s GDP. Copper, being Chile’s largest export, supplies 60% of the government’s income. Other important exports include carbonates and fish while the necessary imports are petroleum, cars, and garments. Major industries can also include different types of minerals, food, wood products, and fibers. Chile does not house many globally large companies, but it does have its own businesses. Some big ones are Banco de Chile, Sociedad Química y Minera, and Enel Américas. Additionally, Chile has an above average GDP per capita of $29,500, giving the citizens there a pretty high quality life. Chile’s neighbors, Argentina, Peru, and Bolivia, all have a lower GDP per capita than Chile. Argentina is less by $2,400, Peru by $14,200, and Bolivia by an entire $19,700. Furthermore, the economic system is more of a mix, containing both private and governmental corporations. The private-owned businesses are lightly directed by the government, only needing to follow limited regulations. In conclusion, Chile is a country with a solid economy and considered to be a pretty wealthy country.

“🇨🇱 Chile Flag Unveiled: Colors, Meaning, Coat of Arms, Flag Map, and Similar Flags | Mappr.” Mappr, 31 Jan. 2021, www.mappr.co/flag-maps/chile/. Accessed 13 Mar. 2025.

Cia.gov, 2025, www.cia.gov/the-world-factbook/countries/. Accessed 23 Feb. 2025.

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