Chile -an economic overview:
Chile boasts of a wide range of natural resources. Efficient managers in the administration contribute towards a sound economic development.The economic framework of Chile is market oriented. The economy features a high degree of international trade.
During '91 through '97, 8% growth was registered in real GDP or gross domestic product. Owing to stringent monetary policies, the real GDP dropped by almost half in the year 1998.
Growth in GDP accounted for 2 percent to 6 percent between 2000 through 2006. The period between 2000 and 2006 was characterized by the low rate of inflation .
The growth in the GDP during the same period can be attributed to increase in costs of copper, revenues generated from fishing, mining, forestry. Chile has always appealed to foreign direct investment. Majority of the foreign direct investment is utilized for mining, electricity, gas and water.
Unemployment declined and was 8% in 2006 end. International Monetary Fund or IMF envisages that the growth in the economy of Chile registered 5.9% in GDP in the last couple of years. Stability in the social as well as political set up coupled with open markets and market conditions which offer scope for competition facilitate a strong business environ.
