Nobody would ever expect that this Andean nation after the devastating earthquake she had in 2010 could ever bounce back and come up with robust 2011 Chile economy. The tragedy that she had experienced will remain in the annals of Chile as she moves forward and hurdle what ever obstacles to keep them from bouncing back and conquer economic challenges.
The gross domestic product which is the total monetary value of all goods and services produced by Chile, including those that came from foreigners who are staying and working in the country, reached 7% in the third quarter of 2010. This is a stunning feat because it was projected that its GDP would have increased by 5% in 2010 basing on its 2009 performance, and still looking forward to 6% increase for 2011. Total import and export production of the country has increased by 32.6% from last year to a whopping $87.7 Billion, and they are looking at a $64.28 Billion in export alone for the 2011 projection. This growth has led many investors to look at a Chile ETF and even a leveraged etf that will give them exposure to this emerging economy.
The total labor force in Chile for 2010 has reached to 7.42 Million which is expected to grow by 7.58 Million in 2011 record. The unemployment rate is expected to substantially decrease from 9.6% from the 2010 to a projected 8.7% in the 2011 data. According to heritage foundation, a research and education institution whose mission is to formulate and promote policies based on free enterprise and American values, ranked Chile to be number 10 in the most open in the world.
To a large extent, Chile is fighting on to overcome the obstacles it had last year. Some figures that are presented maybe forecasts, but the track record that it showed from the past several months that this nation of 16.74 million people will stop at nothing to bring their economy back on course.