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The Economist highlights Chile’s economic performance in 2023

Agustín de Vicente / January 3, 2024 | 08:26
The English publication analyzed the performance of the 35 OECD countries based on variables such as inflation, GDP, employment and stock market performance, ranking Chile seventh.

The Economist highlighted Chile’s economic performance in 2023, ranking it seventh among the 35 Organization for Economic Cooperation and Development (OECD) countries. The specialized publication used variables like inflation, GDP, employment and stock market performance to prepare the ranking.

The Economist highlighted Chile’s inflation management thanks to monetary policy decisions by the Central Bank. “Central bankers in places including Chile and South Korea increased interest rates aggressively in 2022, sooner than many of their peers across the rich world, and now appear to be reaping the benefits,” it said.

As of November 2023, cumulative inflation for the year stood at 4.5%, far from its August 2022 peak of 14%, Chile’s highest inflation figures in the last three decades.

So, in economic performance in 2023, Chile ranks below only Greece, South Korea, the United States, Israel, Luxembourg and Canada. This year’s list of top-ten nations in terms of economic performance also includes Portugal, Spain and Poland. On the other hand, Germany, Belgium, Hungary, Britain, Slovakia, Sweden, Austria, Iceland and Finland are at the bottom of the ranking. The Economist explained that these lower rankings reflect more persistent inflation, tightening labor markets and/or sustained declines in GDP.

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