Chile’s GDP per capita is highest in South America and will be first to reach US$30,000

The International Monetary Fund says Chile will reach that amount in 2026, before all other South American countries, although four years later than expected.

RIO DE JANEIRO, BRAZIL – According to the International Monetary Fund(IMF), Chile’s GDP per capita will reach US$30,000, within five years, in 2026, measured at purchasing power parity (PPP), making the country the first in South America to reach that figure.

Chile's GDP per capita is highest in South America
Chile’s GDP per capita is the highest in South America. (Photo internet reproduction)

The IMF raised Chile’s growth outlook from 6% to 6.2% for 2021, which will also make Chile the first country in Latin America to return to pre-sanitary crisis levels, which could happen by the end of this year.

Chile’s GDP per capita will reach US$24,928 by the end of 2021, which is equivalent to an increase of US$1,561 compared to the end of 2020. In South America, it is followed by Uruguay, with US$23,474 at the end of this year, and Argentina, with US$22,474.

The latter country’s figure, mired in a long economic crisis and despite an expected 5.8% rise for its economy in the current fiscal year, will only be similar to what it had in 2017.

If the comparison is extended to all of Latin America, Chile has the second-highest GDP per capita, after Panama, which already this year will close above US$30,000, as anticipated by the IMF. Moreover, when Chile reaches that level, Panama will be reaching US$40,000.

Source: La tercera

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