Chile Will No Longer Be the Fourth Largest Economy in South America and Will Be Surpassed by Peru
6 Articles
6 Articles
In 19 years, considering the IMF’s projection to 2031, the neighboring country’s economy will have grown at a faster rate than Chile’s on 17 occasions, reaching it this year and then surpassing it. In 2013, Chile had become the fourth largest after the fall of Venezuela, being surpassed by Brazil, Argentina and Colombia.
Peru could surpass Chile and become the fourth largest economy in South America in 2027, according to the projection of the International Monetary Fund (IMF), based on its World Economic Outlook report, whose estimates were collected by the Chilean newspaper La Tercera.
According to an IMF report, by 2031 Peru’s GDP would be US$502.012 million, while Chile’s would be US$486,468 million.
Based on IMF projections, the Peruvian GDP would reach $413.597 million in 2027 and Chile would reach about $413.443 million.
The agency projects that the Peruvian nominal GDP will reach 413,597 million dollars in 2027, compared to the 413,443 million estimated for Chile. The gap would widen towards 2031. The comparison considers the size of both economies in dollars, so that prices and the exchange rate also influence. It does not measure income per capita or purchasing power.
Much of the so-called “Chilean economic miracle” is explained by the dizzying growth that showed activity since the second half of the 80s: 6.3% average between 1986 and 1999, reports La Tercera. After that, the Chilean economy moderated its speed and recorded expansions of 4.2% for the period 2000-2009 and 3.3% for the...
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