Compare Chile (2008) - Chile (2007)

Compare Chile (2008) z Chile (2007)

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	Chile (2008)	Chile (2007)

Budget	revenues: $44.44 billion expenditures: $31.36 billion (2007 est.)	revenues: $37.78 billion expenditures: $26.5 billion (2006 est.)
Debt - external	$49.18 billion (30 June 2007)	$47.71 billion (2006 est.)
Diplomatic representation from the US	chief of mission: Ambassador Paul E. SIMONS embassy: Avenida Andres Bello 2800, Las Condes, Santiago mailing address: APO AA 34033 telephone: [56] (2) 232-2600 FAX: [56] (2) 330-3710	chief of mission: Ambassador Craig A. KELLY embassy: Avenida Andres Bello 2800, Las Condes, Santiago mailing address: APO AA 34033 telephone: [56] (2) 232-2600 FAX: [56] (2) 330-3710
Economy - overview	Chile has a market-oriented economy characterized by a high level of foreign trade. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio AYLWIN - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Growth in real GDP averaged 8% during 1991-97, but fell to half that level in 1998 because of tight monetary policies implemented to keep the current account deficit in check and because of lower export earnings - the latter a product of the global financial crisis. A severe drought exacerbated the recession in 1999, reducing crop yields and causing hydroelectric shortfalls and electricity rationing, and Chile experienced negative economic growth for the first time in more than 15 years. Despite the effects of the recession, Chile maintained its reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Between 2000 and 2007 growth ranged between 2%-6%. Throughout these years Chile maintained a low rate of inflation with GDP growth coming from high copper prices, solid export earnings (particularly forestry, fishing, and mining), and growing domestic consumption. President BACHELET in 2006 established an Economic and Social Stabilization Fund to hold excess copper revenues so that social spending can be maintained during periods of copper shortfalls. This fund will surpass $20 billion by the end of 2007. Chile continues to attract foreign direct investment, but most foreign investment goes into gas, water, electricity and mining. Unemployment has exhibited a downward trend over the past two years, dropping to 7.8% and 6.7% at the end of 2006 and 2007, respectively. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile claims to have more bilateral or regional trade agreements than any other country. It has 57 such agreements (not all of them full free trade agreements), including with the European Union, Mercosur, China, India, South Korea, and Mexico.	Chile has a market-oriented economy characterized by a high level of foreign trade. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio AYLWIN - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Growth in real GDP averaged 8% during 1991-97, but fell to half that level in 1998 because of tight monetary policies implemented to keep the current account deficit in check and because of lower export earnings - the latter a product of the global financial crisis. A severe drought exacerbated the recession in 1999, reducing crop yields and causing hydroelectric shortfalls and electricity rationing, and Chile experienced negative economic growth for the first time in more than 15 years. Despite the effects of the recession, Chile maintained its reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Between 2000 and 2006 growth ranged between 2%-6%. Throughout these years Chile maintained a low rate of inflation with GDP growth coming from high copper prices, solid export earnings (particularly forestry, fishing, and mining), and growing domestic consumption. Chile continues to attract foreign direct investment, but most foreign investment goes into gas, water, electricity and mining. Unemployment has exhibited a downward trend over the past year, dropping to 7.8% at the end of 2006. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile signed or ratified a number of trade agreements in 2006, including with China and India. Chile claims to have more bilateral or regional trade agreements than any other country. It has 57 such agreements (not all of them full free trade agreements), including with the European Union, Mercosur, South Korea, and Mexico.
Exchange rates	Chilean pesos per US dollar - 526.25 (2007), 530.29 (2006), 560.09 (2005), 609.37 (2004), 691.43 (2003)	Chilean pesos per US dollar - 530.29 (2006), 560.09 (2005), 609.37 (2004), 691.43 (2003), 688.94 (2002)
Flag description	two equal horizontal bands of white (top) and red; there is a blue square the same height as the white band at the hoist-side end of the white band; the square bears a white five-pointed star in the center representing a guide to progress and honor; blue symbolizes the sky, white is for the snow-covered Andes, and red stands for the blood spilled to achieve independence note: design was influenced by the US flag	two equal horizontal bands of white (top) and red; there is a blue square the same height as the white band at the hoist-side end of the white band; the square bears a white five-pointed star in the center representing a guide to progress and honor; blue symbolizes the sky, white is for the snow-covered Andes, and red stands for the blood spilled to achieve independence; design was influenced by the US flag
GDP - composition by sector	agriculture: 4.9% industry: 49.7% services: 45.4% (2007 est.)	agriculture: 5.1% industry: 49.8% services: 45.2% (2006 est.)
GDP - real growth rate	5.2% (2007 est.)	4% (2006 est.)
Industrial production growth rate	5.6% (2007 est.)	3.1% (2006)
Inflation rate (consumer prices)	6.5% (2007 est.)	3.4% (2006 est.)
International organization participation	ABEDA, APEC, BIS, CAN (associate), CSN, FAO, G-15, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA, Mercosur (associate), MIGA, MINUSTAH, NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, Union Latina, UNMOGIP, UNTSO, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO	ABEDA, APEC, BIS, CAN (associate), CSN, FAO, G-15, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA, Mercosur (associate), MIGA, MINUSTAH, NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNMOGIP, UNTSO, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	6.97 million (2007 est.)	6.835 million (2006 est.)
Legislative branch	bicameral National Congress or Congreso Nacional consists of the Senate or Senado (38 seats; members elected by popular vote to serve eight-year terms; one-half elected every four years) and the Chamber of Deputies or Camara de Diputados (120 seats; members are elected by popular vote to serve four-year terms) elections: Senate - last held 11 December 2005 (next to be held in December 2009); Chamber of Deputies - last held 11 December 2005 (next to be held in December 2009) election results: Senate - percent of vote by party - NA; seats by party - CPD 20 (PDC 6, PS 8, PPD 3, PRSD 3), APC 17 (UDI 9, RN 8), independent 1; Chamber of Deputies - percent of vote by party - NA; seats by party - CPD 65 (PDC 21, PPD 22, PS 15, PRSD 7), APC 54 (UDI 34, RN 20), independent 1; note - as of 8 January 2008: Senate - seats by party - CPD 18, (PDC 5, PS 8, PPD 2, PRSD 3), APC 16 (UDI 9, RN 7), independent 4; Chamber of Deputies - seats by party - CPD 57 (PDC 16, PPD 19, PS 15, PRSD 7), APC 53 (UDI 33, RN 20), independent 10.	bicameral National Congress or Congreso Nacional consists of the Senate or Senado (38 seats; members elected by popular vote to serve eight-year terms; one-half elected every four years) and the Chamber of Deputies or Camara de Diputados (120 seats; members are elected by popular vote to serve four-year terms) elections: Senate - last held 11 December 2005 (next to be held in December 2009); Chamber of Deputies - last held 11 December 2005 (next to be held in December 2009) election results: Senate - percent of vote by party - NA; seats by party - CPD 20 (PDC 6, PS 8, PPD 3, PRSD 3), APC 17 (UDI 9, RN 8), independent 1; Chamber of Deputies - percent of vote by party - NA; seats by party - CPD 65 (PDC 21, PPD 22, PS 15, PRSD 7), APC 54 (UDI 34, RN 20), independent 1
Military branches	Army of the Nation, Chilean Navy (Armada de Chile, includes naval air, marine corps, and Maritime Territory and Merchant Marine Directorate (Directemar)), Chilean Air Force (Fuerza Aerea de Chile, FACh), Carabineros Corps (Cuerpo de Carabineros) (2007)	Army of the Nation, Chilean Navy (Armada de Chile, includes naval air, marine corps, and Maritime Territory and Merchant Marine Directorate (Directemar)), Chilean Air Force (Fuerza Aerea de Chile, FACh), Chilean Carabineros (National Police) (2007)
Pipelines	gas 2,550 km; gas/liquid petroleum gas 42 km; liquid petroleum gas 539 km; oil 1,002 km; refined products 757 km; unknown (oil/water) 97 km (2007)	gas 2,567 km; gas/liquid petroleum gas 42 km; liquid petroleum gas 539 km; oil 1,003 km; refined products 757 km; unknown (oil/water) 97 km (2006)
Political parties and leaders	Alliance for Chile ("Alianza") or APC (including National Renewal or RN [Carlos LARRAIN Pena] and Independent Democratic Union or UDI [Hernan LARRAIN Fernandez]); Coalition of Parties for Democracy ("Concertacion") or CPD (including Christian Democratic Party or PDC [Soledad ALVEAR], Socialist Party or PS [Camilo ESCALONA Medina], Party for Democracy or PPD [Sergio BITAR Chacra], Radical Social Democratic Party or PRSD [Jose Antonio GOMEZ Urrutia]); Communist Party or PC [Guillermo TEILLIER]; Humanist Party [Marilen CABRERA Olmos]	Alliance for Chile ("Alianza") or APC (including National Renewal or RN [Carlos LARRAIN Pena] and Independent Democratic Union or UDI [Hernan LARRAIN Fernandez]); Coalition of Parties for Democracy ("Concertacion") or CPD (including Christian Democratic Party or PDC [Soledad ALVEAR], Socialist Party or PS [Camilo ESCALONA], Party for Democracy or PPD [Sergio BITAR Chacra], Radical Social Democratic Party or PRSD [Jose Antonio GOMEZ Urrutia]); Communist Party or PC [Guillermo TEILLIER]
Unemployment rate	7% (2007 est.)	7.8% (2006 est.)

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