SANTIAGO: The Chilean economy advanced 11.7 percent in 2021, the greatest annual rise since the country began collecting records, according to the central bank.
The persistent rebound during the second year of the Covid-19 epidemic managed to offset the 6% decline recorded in 2020, according to Chile's National Accounts report for the fourth quarter of 2021, reports claimed. According to the bank, the gain "was a reflection of the gradual opening of the economy and of households and businesses adapting better to the health situation and its progression during the year."
Except for mining, all economic activity evaluated increased last year, with the greatest figures in commerce and personal services, according to the research. Overall consumption climbed by 18.2 percent, driven by restaurant, hotel, and health services, as well as apparel and food. "Domestic demand remained active throughout the year, propelled by household consumption. Investment is also expected to rebound in 2021 "According to the central bank. In terms of the trade balance, imports increased while exports decreased, resulting in "a loss of net exports." as stated by the bank.