Capital City: Santiago
	It is %T:%M %A in Santiago

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Economic trends

The Chile has one of the most performing economies in Latin America and it is quoted as a role model of economic stability by foreign investors. Chile has pursued generally sound economic policies for nearly three decades. Chile is the largest producer and exporter of copper in the world and country’s economy is largely dependent on rise & fall of the international copper prices. After a slow down to 4% in 2006 due to a dip in copper production, the growth rate of the GDP increase to 6% in 2007. 5% are forecasted for 2008. Chile's independent Central Bank pursues a policy of maintaining inflation arround 4%. Inflation has not exceeded 5% since 1998. Unemployment has hovered in the 8 -10% range in recent years and is expected to remain so in the coming few years in spite of strong economic growth. Most international observers blame the high unemployment rate on Chile’s complicated and restrictive labour laws.

Main branches of industry

Chile's main activity sectors are mining (copper, gold and silver), manufacturing (food-processing, chemicals, wood and paper) and agriculture (wine growing, sea products and fruit growing). The agricultural sector contributes nearly 5% to the GDP, the industrial sector contributes around 47% and the service sector nearly 48%. Dependence of the economy on copper prices and the production of an adequate food supply are Chile's two major economic problems.

International trade

Chile's economy is highly dependent on international trade. The share of foreign trade in country’s GDP is above 75%. Chile is strongly committed to free-trade and has signed free trade agreements (FTAs) with several important economies, including U.S.A., China and South Korea. Chile’s top three export partners are: the USA, Japan and China. Copper exports accounted for 45% of Chilean total exports in 2005. Chile's top three import partners are: Argentina, the USA and Brazil. Chile mainly imports mineral fuels & oils, machinery, vehicles, and electric & electronic equipment.