Chile’s GDP grows 1% in second quarter 2021 and 18.1% year-on-year

RIO DE JANEIRO, BRAZIL – Chile’s economy continues to show signs of recovery. Data released on Wednesday (18) by the Central Bank show that the country’s Gross Domestic Product (GDP) grew 18.1% in the second quarter compared to the same period last year. Compared to the first three months of the year, the increase was 1%.

The performance exceeded analysts’ expectations heard by the Chilean press, who expected annual growth of 17.4%. The Central Bank said that the significant result is due to the low comparison base. In the same period of 2020, economic activity was under severe restrictions because of the covid-19 pandemic.

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The monetary authority pointed out that support measures implemented by the government, such as the partial withdrawal of private pension funds and a greater adaptation of the economy to health restrictions, had a positive impact on the result between April and June.

Personal services, in particular education and health, made a special contribution to the economy’s expansion in the second quarter, the Central Bank pointed out. Trade and, to a lesser extent, manufacturing also stood out in the period.

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