By: Economy of The Republic of Chile

Since it’s accession to the Organization for Economic Cooperation and Development, there has never been a Chilean Secretary General. During this presentation, I will do my best to convey you that Chile is one of the most developed countries in Latin America and competitive enough in World Market.

Official name: The Republic of Chile. Total Area: 756,096.3 km 2. Population: 18,006,407 (2015). GDP total: $ billion. Per capita: $23,165 ( highest in Latin America). Human Development Index: very high. Currency: Peso. Capital city: Santiago.

 Chile is: A mixed economy Country Ranked by World Bank as a high-income economy Most secure and productive in Latin America.  Top 3 trade partners: China, USA and Brazil.  Economy mainly consists of: Service sector (53,1%) of GDP Industry sector (41,8%) of GDP Agriculture (5,1%) of GDP.

 Chile is the 44 th largest exporting economy, totaling 77.3 billion  It mainly exports copper, sulphate chemical wood pulp, fish fillets.  Large portion of exports go to China (18.9 bln), the US (9.3bln), Japan (7.81 bln), S. Korea (4.86 bln) and Brazil (4.11 bln).  Imports of Chile totaled 69.1 bln which results 8.22 bln trade surplus  Chile mainly imports crude and refined oil, vehicle. Imports come from China (14.8 bln), the US (14 bln), Brazil (5.31 bln), Germany (3 bln) and Argentina ( 2.85 bln).

 The Service sector of Chile has increased dramatically in recent decade.  It mainly consists of maritime and aeronautical services, tourism, retail, engineering, health and education.  Chile has private pension system.  Banking sector has also, soared due to the liberalization by legislature.  There is only one State owned bank ( State bank of Chile).  Tourism also, flourishes in Chile with 6,4 million visitors in 2017 (13,3% increase) Sanhattan

Mining Industry  Chile produces 1/3 of world’s copper (#1), 20% of government revenue.  Foreign companies can work in copper deposits.  Chile heavily depends on world copper price.  Also, it produces lithium, coal, gold and silver.

Chilean agriculture employs 13,6% of labor force. It mainly produces wine, salmon, timber, fruits and veggies. Chile is the 2 nd largest producer of salmon Forestry is one of the largest sectors in Chile. It mainly exports Pine and Eucalyptus. Chilean vineyards are among top 10 wine exporters and not by quantity but quality.

In conclusion: being one of the most developed country in Latin America and member of OECD since 2010, Chile deserves to present a new secretary general and insist for the election of the first Chilean Secretary general in the history of OECD. Chile would be an excellent example of economic transparency and model for other states to follow. Thank you very much!

Bibliography: economic-story copper-country/ market/chile/economical-context