According to the latest World Economic Outlook from the International Monetary Fund, Chile's GDP has reached $140.4 billion, which is larger than the $129.4 billion economy of Colombia. The economy of Chile has become the fifth largest in latin America after Brazil, Mexico, Argentina and Venezuela. hmmm.. the population of Chile is just 15 million!
Chile has also passed Mexico as Latin America's top GDP per capita nation. Thanks to strong economic growth in the past two years, Chile is now the country in Latin America with the highest GDP per capita. Chile now has a GDP per capita of $8,569, a 20.3 percent increase from 2005. Mexico's GDP per capita is now $7,593, a 4.0 percent rise from 2005.
The Chilean economy is the most open, dynamic and transparent in latin America, with the strongest macroeconomic fundamentals. Fiscal and current account surpluses are sizeable. Their pension fund system is one of the best in the world. They have a single uniform tariff of just six percent for imports.