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Economy of Chile vs Norway compared: GDP & Debt

Updated on by Georank team

Chile has a GDP of $330B compared to $484B for Norway, ranking 46/197 and 32/197 by economy size, respectively.

Chile has $139B in government debt (43% of GDP), compared to $207B (42.7% of GDP) in Norway.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Chile
GDP, current $

GDP, constant 2015 $
Norway
GDP, current $

GDP, constant 2015 $
Year GDP
Chile Norway
Current $ Constant $ Current $ Constant $
1960 $4,211,103,677 $26,275,664,125 $5,197,398,721 $68,793,506,118
1961 $4,948,564,551 $27,725,978,495 $5,669,689,210 $73,109,153,566
1962 $5,765,971,144 $28,815,827,040 $6,107,076,929 $75,166,405,039
1963 $5,702,520,146 $30,454,488,579 $6,553,269,536 $78,011,485,854
1964 $6,065,708,668 $31,204,014,437 $7,206,522,122 $81,919,589,025
1965 $6,183,988,944 $31,413,343,022 $8,111,945,661 $86,249,538,031
1966 $7,256,882,086 $35,014,387,052 $8,753,940,267 $89,515,388,221
1967 $7,145,068,068 $36,270,742,032 $9,577,383,653 $95,115,541,631
1968 $7,286,820,526 $37,566,955,711 $10,227,087,165 $97,265,034,480
1969 $8,456,519,044 $39,108,395,437 $11,136,187,440 $101,646,446,366
1970 $9,261,006,540 $39,771,076,474 $12,814,123,115 $103,621,742,272
1971 $10,999,807,567 $43,577,595,610 $14,583,114,840 $109,500,837,087
1972 $12,057,501,635 $43,267,163,670 $17,358,610,850 $115,337,894,011
1973 $17,237,336,173 $41,087,469,486 $22,534,253,703 $120,566,084,506
1974 $16,584,311,220 $41,600,890,292 $27,145,693,810 $125,294,905,499
1975 $7,812,161,793 $36,494,895,964 $32,877,805,200 $131,499,638,270
1976 $10,523,479,089 $37,810,425,598 $35,942,270,686 $139,160,194,320
1977 $14,272,711,437 $42,025,983,482 $41,508,030,431 $144,950,253,122
1978 $16,373,093,554 $45,399,335,594 $46,522,900,254 $150,558,892,164
1979 $22,249,574,628 $49,229,142,624 $53,132,244,624 $157,142,089,506
1980 $29,586,676,576 $53,252,287,646 $64,439,382,896 $164,314,436,253
1981 $35,180,322,211 $56,830,116,589 $63,596,654,761 $166,940,746,108
1982 $19,710,229,067 $50,293,481,314 $62,647,195,538 $167,333,595,175
1983 $20,629,678,694 $47,811,382,483 $61,627,240,831 $173,981,771,260
1984 $19,974,595,028 $49,716,049,397 $62,057,955,033 $184,511,811,488
1985 $17,933,557,360 $51,482,161,644 $65,416,879,914 $194,758,499,575
1986 $19,197,818,085 $54,265,063,039 $78,693,118,044 $202,630,856,643
1987 $22,605,488,851 $57,921,900,186 $94,229,907,236 $206,184,106,690
1988 $26,174,858,614 $62,179,629,421 $101,900,260,856 $205,657,951,819
1989 $30,101,767,991 $68,620,417,336 $102,633,934,391 $207,793,200,369
1990 $33,428,580,448 $71,089,876,110 $119,791,843,060 $211,808,370,316
1991 $38,232,330,917 $76,603,750,426 $121,872,464,483 $218,341,469,492
1992 $46,538,895,686 $85,414,661,278 $130,838,040,068 $226,145,995,698
1993 $49,934,943,321 $91,125,130,549 $120,579,213,713 $232,580,262,419
1994 $57,438,273,591 $95,751,374,591 $127,131,319,429 $244,337,831,947
1995 $73,820,425,702 $104,613,573,720 $152,029,612,325 $254,491,639,971
1996 $78,584,098,984 $112,056,685,780 $163,520,109,151 $267,287,258,415
1997 $85,741,415,285 $120,339,623,826 $161,356,631,888 $281,412,338,540
1998 $81,990,010,704 $125,370,887,065 $154,230,295,158 $288,922,351,937
1999 $75,578,685,736 $125,027,832,954 $162,383,706,021 $294,908,959,351
2000 $78,339,750,721 $131,243,743,563 $171,457,201,936 $304,696,827,580
2001 $71,574,739,561 $135,383,217,072 $174,239,354,071 $310,995,308,439
2002 $70,264,045,939 $139,719,269,577 $195,914,852,576 $315,279,446,148
2003 $76,492,579,644 $146,318,553,367 $229,385,469,337 $318,258,551,155
2004 $99,075,985,774 $156,084,225,514 $265,268,662,473 $331,035,320,834
2005 $122,294,145,163 $165,194,933,118 $309,978,579,744 $339,924,026,052
2006 $153,843,518,171 $175,189,211,416 $346,915,160,682 $348,291,164,570
2007 $172,491,076,034 $184,243,394,523 $402,643,260,488 $358,440,508,444
2008 $179,894,594,475 $191,225,100,461 $464,917,553,191 $360,167,903,329
2009 $171,777,900,624 $189,087,132,633 $387,976,400,617 $353,179,332,378
2010 $217,051,209,239 $200,151,851,762 $431,052,143,940 $355,959,036,888
2011 $251,382,573,894 $212,609,096,429 $501,360,549,669 $359,894,719,458
2012 $267,024,782,487 $225,695,909,225 $512,777,309,841 $369,676,511,271
2013 $277,395,018,842 $233,163,076,995 $526,014,468,085 $373,433,130,118
2014 $259,560,978,224 $237,342,873,662 $501,736,471,833 $381,081,533,571
2015 $242,450,355,831 $242,450,355,831 $388,159,512,246 $388,159,512,246
2016 $249,344,863,928 $246,700,604,516 $370,956,547,619 $392,680,500,172
2017 $276,154,259,981 $250,050,047,210 $401,745,275,035 $402,355,151,331
2018 $295,857,562,992 $260,027,117,803 $439,788,625,884 $405,690,399,924
2019 $278,285,058,719 $261,676,645,417 $408,742,840,909 $410,249,333,419
2020 $254,042,159,309 $245,600,606,669 $367,633,418,887 $405,005,642,243
2021 $315,325,547,162 $273,390,120,031 $503,367,986,030 $420,836,044,192
2022 $301,226,575,540 $279,278,925,616 $596,297,651,036 $434,497,344,229
2023 $335,518,054,098 $280,734,996,501 $482,949,731,777 $434,810,705,801
2024 $330,267,137,372 $288,158,504,435 $483,727,398,216 $443,943,701,526

Economic indicators

Chile Norway
Gross domestic product
$330B
2024
$484B
2024
GDP rank
46/197
2024
32/197
2024
GDP growth
-1.57%
2023-2024
0.16%
2023-2024
GDP per capita
$16,710
2024
$86,810
2024
GDP per capita rank
65/197
2024
8/197
2024
GDP per capita, PPP
$34,637
2024
$101,032
2024
Government debt
$139B
2024
$207B
2024
Debt-to-GDP ratio
43%
2025
42.7%
2025
Government debt per person
$7,015
2024
$37,084
2024
Government debt per person rank
69/185
2024
17/185
2024
Average annual personal income after taxes
$9,593
2025
$45,746
2025
Market capitalization of domestic companies
$262B
2024
$296B
2019
Number of millionaires
81,274
2024
253,085
2024
Number of billionaires
6
2025
17
2025
Income share by richest 10%
34.5%
2022
21.6%
2023
Income share by poorest 10%
2.3%
2022
3.6%
2023
Government expenditure, % of GDP
26.6%
2025
47.9%
2025
Consumer prices inflation
4.3%
2023-2024
3.15%
2023-2024
Central bank interest rate
4.75%
2025
4.25%
2025
Unemployment rate
8.76%
2024
3.98%
2024
Population
19928941
5642662

GDP per capita in Chile vs Norway

Chile's GDP per capita is $16,710, ranking 65/197, compared to $86,810 in Norway, ranking 8/197. Adjusted for purchasing power (GDP per capita PPP), Chile ranks 64th at $34,637, while Norway ranks 7th at $101,032.

Chile
GDP per capita

GDP per capita, PPP
Norway
GDP per capita

GDP per capita, PPP
Year Current $
Chile Norway
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $516 - $1,451 -
1961 $594 - $1,571 -
1962 $679 - $1,678 -
1963 $658 - $1,787 -
1964 $686 - $1,951 -
1965 $686 - $2,179 -
1966 $790 - $2,333 -
1967 $764 - $2,531 -
1968 $766 - $2,680 -
1969 $874 - $2,894 -
1970 $941 - $3,306 -
1971 $1,099 - $3,736 -
1972 $1,185 - $4,414 -
1973 $1,667 - $5,690 -
1974 $1,579 - $6,812 -
1975 $732 - $8,204 -
1976 $971 - $8,927 -
1977 $1,297 - $10,266 -
1978 $1,465 - $11,463 -
1979 $1,962 - $13,047 -
1980 $2,571 - $15,772 -
1981 $3,012 - $15,513 -
1982 $1,663 - $15,225 -
1983 $1,715 - $14,928 -
1984 $1,636 - $14,989 -
1985 $1,447 - $15,754 -
1986 $1,525 - $18,883 -
1987 $1,767 - $22,506 -
1988 $2,014 - $24,207 -
1989 $2,278 - $24,281 -
1990 $2,488 $4,445 $28,243 $18,449
1991 $2,798 $4,886 $28,597 $19,567
1992 $3,352 $5,563 $30,524 $20,609
1993 $3,541 $6,061 $27,964 $21,569
1994 $4,012 $6,476 $29,316 $23,012
1995 $5,081 $7,232 $34,876 $24,344
1996 $5,334 $7,895 $37,322 $26,816
1997 $5,742 $8,511 $36,629 $28,603
1998 $5,420 $8,850 $34,803 $28,198
1999 $4,934 $8,839 $36,393 $30,574
2000 $5,053 $9,376 $38,178 $36,986
2001 $4,564 $9,776 $38,602 $37,833
2002 $4,431 $10,133 $43,171 $38,056
2003 $4,773 $10,709 $50,250 $38,685
2004 $6,121 $11,612 $57,769 $42,673
2005 $7,480 $12,550 $67,047 $47,967
2006 $9,319 $15,511 $74,434 $54,369
2007 $10,346 $16,698 $85,502 $56,181
2008 $10,683 $16,376 $97,504 $62,073
2009 $10,099 $15,951 $80,348 $55,619
2010 $12,633 $17,918 $88,163 $58,220
2011 $14,487 $20,122 $101,222 $62,460
2012 $15,242 $21,366 $102,176 $65,774
2013 $15,684 $22,201 $103,554 $67,378
2014 $14,530 $22,554 $97,667 $66,332
2015 $13,434 $22,458 $74,810 $60,754
2016 $13,650 $23,257 $70,867 $59,280
2017 $14,880 $24,295 $76,132 $64,590
2018 $15,659 $25,305 $82,793 $70,254
2019 $14,496 $25,612 $76,431 $70,940
2020 $13,115 $25,351 $68,340 $67,111
2021 $16,207 $29,090 $93,073 $88,984
2022 $15,406 $30,820 $109,270 $123,150
2023 $17,067 $32,801 $87,497 $100,437
2024 $16,710 $34,637 $86,810 $101,032

Spending and national debt comparison

In 2024, Chile's government spending was $87.5B, accounting for 26.6% of its GDP, while Norway's spent $230B, or 47.9% of GDP.

Debt-to-GDP ratio is 43% in Chile and 42.7% in Norway, ranking 126/185 and 128/185, respectively.

Chile
Government spending

Government debt
Norway
Government spending

Government debt
Year % of GDP
Chile Norway
Government spending Government debt Government spending Government debt
1960 19.7% 7.02% 18% 29.8%
1961 19.5% 7.97% 20.4% 27.7%
1962 21.3% 6.99% 30.6% 26.7%
1963 18.9% 9.23% 31.9% 25.3%
1964 17.8% 9.6% 32% 24.2%
1965 20.5% 12.6% 32.9% 23%
1966 20.5% 12.6% 33.5% 22.4%
1967 19.1% 14.9% 34.9% 22.6%
1968 19.3% 17.9% 36.2% 22.5%
1969 18.7% 21.5% 38% 22.3%
1970 21.1% 26.3% 38.9% 38.6%
1971 27.2% 20% 40.7% 38.5%
1972 35% 10.1% 42.2% 38.9%
1973 30.8% 11.1% 42.3% 37.7%
1974 32.3% 18.8% 42.2% 35.4%
1975 33.6% 28.4% 43.5% 36.7%
1976 30% 19.5% 45.2% 38.5%
1977 30% 16.5% 46.5% 43.8%
1978 29.4% 26% 47.9% 49.9%
1979 24.8% 23.2% 47.2% 39.6%
1980 23.8% 17.4% 46.1% 36.8%
1981 26.4% 14% 46.1% 32.9%
1982 30.1% 20.3% 46.6% 29.7%
1983 29.2% 45.5% 46.4% 27.4%
1984 30% 56.6% 44.5% 27.8%
1985 28.5% 79.8% 44% 30.2%
1986 26.6% 88.4% 48.1% 37.8%
1987 22.9% 81.6% 50.5% 31.3%
1988 21.3% 71.2% 52.6% 30.5%
1989 19.8% 51.9% 52.2% 30.4%
1990 20.9% 50.3% 48.9% 28.9%
1991 21.2% 37% 50% 39.2%
1992 20.8% 30.3% 51.3% 45%
1993 21.1% 28% 50.2% 53.7%
1994 20.6% 22.6% 49.4% 50.6%
1995 19.4% 17.2% 49.3% 32.7%
1996 20.6% 14.6% 47% 28.4%
1997 20.6% 12.8% 45.5% 25.8%
1998 21.9% 12.1% 47.8% 23.6%
1999 23.7% 13.3% 46.4% 25%
2000 22.9% 13.1% 41.3% 28.7%
2001 23.2% 14.3% 43.2% 27.2%
2002 23.2% 15% 46.1% 33.9%
2003 22.2% 12.6% 47.6% 43.1%
2004 20.8% 10.3% 44.7% 43.8%
2005 20.2% 7.04% 41.8% 42.3%
2006 18.7% 5.02% 40.5% 52.6%
2007 19.3% 3.9% 41% 49.5%
2008 21.8% 4.92% 39.8% 47.5%
2009 25% 5.84% 45.6% 42.5%
2010 23.5% 8.61% 44.5% 43%
2011 22.9% 11.1% 43.3% 29.6%
2012 23.1% 11.9% 42.4% 30.9%
2013 23.1% 12.8% 43.5% 31.4%
2014 23.9% 15% 45.2% 29.7%
2015 25% 17.4% 48.2% 34.3%
2016 25.4% 21.1% 50.4% 37.9%
2017 25.5% 23.7% 49.2% 38.3%
2018 25.6% 25.8% 47.7% 39.4%
2019 26.5% 28.3% 50.2% 40.6%
2020 29.1% 32.4% 56.7% 46.1%
2021 33.6% 36.4% 46.3% 41.6%
2022 26.7% 37.9% 37.5% 36.1%
2023 27.4% 39.4% 45.9% 44.2%
2024 26.5% 42% 47.5% 42.7%
2025 26.6% 43% 47.9% 42.7%

Government deficit by year

In 2024, Chile's government deficit, the difference between spending and revenue, was -$9.05B, equivalent to -2.74% of GDP. This compares to Norway's surplus of $61.8B, or 12.8% of GDP.

Over the past 65 years, Chile recorded a fiscal deficit in 41 of those years, while Norway ran a deficit in 5 years. On average, Chile posted an annual deficit equal to -0.61% of GDP, compared to surplus of +6.37% of GDP for Norway.

Deficit/surplus
Chile

Norway
Year Deficit/surplus, % of GDP
Chile Norway
1810 3.64% -
1811 3.24% -
1812 2.79% -
1813 2.34% -
1814 1.91% -
1815 1.53% -
1816 1.21% -
1817 0.94% -
1818 1.52% -
1819 0.16% -
1820 0.64% -
1821 -0.19% -
1822 1.28% -
1823 0.98% -
1824 -0.37% -
1825 0.05% -
1826 -0.08% -
1827 0.07% -
1828 -0.3% -
1829 -0.06% -
1830 -0.51% -
1831 -0.77% -
1832 -0.57% -
1833 -0.45% -
1834 -0.39% -
1835 -0.58% -
1836 -0.17% -
1837 -0.05% -
1838 -0.21% -
1839 0.25% -
1840 0.34% -
1841 0.31% -
1842 1.1% -
1843 0.69% -
1844 0.48% -
1845 -0.21% -
1846 0.36% -
1847 0.04% -
1848 -0.25% -
1849 0.6% -
1850 0.35% -
1851 -0.39% -
1852 0.68% -
1853 0.27% -
1854 -0.2% -
1855 0.1% -
1856 0.11% -
1857 -0.3% -
1858 -1.37% -
1859 -1.6% -
1860 -0.07% -
1861 -0.5% -
1862 -0.13% -
1863 -0.26% -
1864 -1.07% -
1865 -1.95% -
1866 -5.72% -
1867 -4.31% -
1868 -2.85% -
1869 -1.07% -
1870 -1.83% -
1871 -2.38% -
1872 -1.78% -
1873 -1.94% -
1874 -4.75% -
1875 -3.73% -
1876 -3.17% -
1877 -3.88% -
1878 -2.27% -
1879 -4.34% -
1880 -2% -
1881 -1.83% -1.13%
1882 -2.86% -0.62%
1883 -3.57% -0.17%
1884 -3.23% -0.08%
1885 -2.46% -0.005%
1886 -5.17% -0.2%
1887 -4% -0.17%
1888 -0.58% -0.23%
1889 -2.71% -0.07%
1890 -3.65% -0.2%
1891 -6.72% -0.44%
1892 -1.33% -0.94%
1893 -0.59% -1.25%
1894 0.82% -1.13%
1895 -2.31% -1.66%
1896 -5.36% -1.57%
1897 -1.78% -0.63%
1898 -3.84% -1.39%
1899 -0.78% -1.35%
1900 -1.89% -1.99%
1901 -3.93% -1.41%
1902 -3.65% -1.52%
1903 -1.35% -1.12%
1904 -1.6% -0.75%
1905 -1.31% -0.52%
1906 -2.8% -0.59%
1907 -2.39% 0.16%
1908 -0.84% -0.06%
1909 -2.26% -0.52%
1910 -3.17% 0.3%
1911 -3.32% -0.05%
1912 -3.29% -0.89%
1913 -2.23% -0.9%
1914 -2.67% -1.09%
1915 -2.13% -2.04%
1916 0.98% -0.36%
1917 0.49% 0.2%
1918 0.71% -1.17%
1919 -2.53% -2.11%
1920 -1.8% -1.15%
1921 -0.57% -5.47%
1922 -0.23% -4.28%
1923 2.87% -3.58%
1924 3.68% -2.96%
1925 2.44% -1.92%
1926 -3.23% -1.59%
1927 -0.17% -0.76%
1928 4.11% -0.81%
1929 1.89% -0.83%
1930 1.47% -0.46%
1931 -2.73% -1.15%
1932 -0.32% -1.14%
1933 1.76% -1.29%
1934 2.42% -0.59%
1935 4.23% -1.1%
1936 2.62% -0.7%
1937 1.42% -0.16%
1938 1.25% 0.03%
1939 1.74% -0.54%
1940 2.64% -0.54%
1941 1.9% -0.54%
1942 1.51% -0.54%
1943 0.81% -0.54%
1944 0.25% -0.54%
1945 0.73% -0.54%
1946 0.12% -3.82%
1947 -0.2% -4.66%
1948 2.56% -0.35%
1949 1.71% -0.72%
1950 -0.92% -0.89%
1951 -0.71% 1.59%
1952 -1.82% 2.15%
1953 -4.05% 1.3%
1954 -2.84% -0.54%
1955 -2.79% 0.82%
1956 -1.3% 1.22%
1957 -0.71% 1.55%
1958 -0.1% 1.7%
1959 1.56% 1.89%
1960 -3.14% 1.42%
1961 -2.89% -0.7%
1962 -4.31% 4%
1963 -3.29% 2.6%
1964 -2.24% 3.08%
1965 -1.64% 2.78%
1966 -1.88% 3.59%
1967 -0.64% 4.19%
1968 -0.79% 3.38%
1969 0.6% 3.57%
1970 -1.22% 2.83%
1971 -7.98% 3.71%
1972 -12.7% 3.93%
1973 -7.32% 4.99%
1974 -5.79% 4.06%
1975 -0.41% 2.88%
1976 -0.48% 2.2%
1977 -1.11% 1.01%
1978 -0.11% 0.94%
1979 4.82% 2.16%
1980 5.41% 5.38%
1981 2.56% 4.82%
1982 -1.02% 3.96%
1983 -2.67% 6.03%
1984 -2.95% 6.97%
1985 -2.22% 9.84%
1986 -0.92% 5.87%
1987 2.36% 4.56%
1988 4.07% 2.65%
1989 5.31% 1.81%
1990 2.24% 1.95%
1991 1.54% -0.12%
1992 2.09% -2.07%
1993 1.41% -1.64%
1994 1.43% 0.04%
1995 3.09% 2.96%
1996 2.07% 6.01%
1997 2.04% 7.35%
1998 0.39% 3.07%
1999 -2.02% 5.71%
2000 -0.69% 15%
2001 -0.49% 13.2%
2002 -1.17% 9.03%
2003 -0.42% 7.2%
2004 2.05% 10.8%
2005 4.57% 14.7%
2006 7.51% 17.9%
2007 7.95% 17%
2008 3.93% 18.5%
2009 -4.26% 10.2%
2010 -0.36% 10.9%
2011 1.43% 13.3%
2012 0.68% 13.7%
2013 -0.47% 10.6%
2014 -1.5% 8.57%
2015 -2.09% 5.99%
2016 -2.66% 4.04%
2017 -2.63% 4.96%
2018 -1.48% 7.81%
2019 -2.73% 6.52%
2020 -7.1% -2.56%
2021 -7.53% 10.3%
2022 1.36% 25.5%
2023 -2.27% 16.6%
2024 -2.74% 12.8%
2025 -2.01% 13.2%

Inflation comparison by year

Over the past 29 years, Chile has recorded an average annual inflation rate of 4.01%, compared with 2.4% in Norway. In 2024, inflation was 4.3% in Chile and 3.15% in Norway.

Inflation
Chile

Norway
Year Inflation
Chile Norway Chile Norway
1996 7.36% 1.26%
1997 6.13% 2.57%
1998 5.11% 2.25%
1999 3.34% 2.37%
2000 3.84% 3.09%
2001 3.57% 3%
2002 2.49% 1.29%
2003 2.81% 2.49%
2004 1.05% 0.45%
2005 3.05% 1.53%
2006 3.39% 2.33%
2007 4.41% 0.71%
2008 8.72% 3.75%
2009 0.35% 2.2%
2010 1.41% 2.42%
2011 3.34% 1.28%
2012 3.01% 0.7%
2013 1.79% 2.12%
2014 4.72% 2.04%
2015 4.35% 2.17%
2016 3.79% 3.55%
2017 2.18% 1.88%
2018 2.43% 2.76%
2019 2.56% 2.17%
2020 3.05% 1.29%
2021 4.52% 3.48%
2022 11.6% 5.76%
2023 7.58% 5.52%
2024 4.3% 3.15%

Top exports between countries

Chile
Export category Export value
Raw materials & minerals $47.5M
Processed food, beverages & tobacco $28M
Transport & tourism services $15.7M
Raw agricultural goods $11.3M
Miscellaneous $4.48M
Wood & paper products $4.16M
Machinery & equipment $3.85M
Chemicals & pharma $546K
Animal & marine products $52K
Metals $48K
Norway
Export category Export value
Machinery & equipment $147M
Chemicals & pharma $80.8M
Miscellaneous $14.1M
Weapons & explosives $4.39M
Metals $1.5M
Textiles & consumer goods $943K
Raw materials & minerals $636K
Processed food, beverages & tobacco $524K
Wood & paper products $491K
Animal & marine products $78K

Balance of trade

Chile Norway
Current account balance
-$4.85B
2024
$79.8B
2024
Current account balance ranking
165/189
2024
8/189
2024
Current account balance, % of GDP
-1.47%
2024
+16.5%
2024
Goods imports
$78.1B
2024
$98.7B
2024
Goods exports
$99.2B
2024
$171B
2024
Service imports
$21.1B
2024
$64.6B
2024
Service exports
$12B
2024
$56.8B
2024
Imports of goods and services, % of GDP
30.1%
2024
33.7%
2024
Exports of goods and services, % of GDP
33.7%
2024
47.6%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Chile Norway
Economic freedom 73.2 78.3
Economic freedom ranking 23/197 10/197
Property rights 71.3 97.7
Government integrity 67.9 94.8
Judicial effectiveness 87.8 98.5
Tax burden 72.5 62.4
Government spending 74.4 44
Fiscal health 84.2 96.1
Business freedom 79.5 86.7
Labor freedom 61.3 69.3
Monetary freedom 71.8 70.3
Trade freedom 78 85
Investment freedom 60 75
Financial freedom 70 60

Economic freedom by year comparison

The Economic Freedom Index for Chile is 73.2, ranking 23/197, compared to 78.3 for Norway, ranking 10/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Chile
Norway
Year Economic freedom index
Chile Norway
1995 71.2 -
1996 72.6 65.4
1997 75.9 65.1
1998 74.9 68
1999 74.1 68.6
2000 74.7 70.1
2001 75.1 67.1
2002 77.8 67.4
2003 76 67.2
2004 76.9 66.2
2005 77.8 64.5
2006 78 67.9
2007 77.7 67.9
2008 78.6 68.6
2009 78.3 70.2
2010 77.2 69.4
2011 77.4 70.3
2012 78.3 68.8
2013 79 70.5
2014 78.7 70.9
2015 78.5 71.8
2016 77.7 70.8
2017 76.5 74
2018 75.2 74.3
2019 75.4 73
2020 76.8 73.4
2021 75.2 73.4
2022 74.4 76.9
2023 71.1 76.9
2024 71.4 77.5
2025 73.2 78.3

More economic indicators

Chile Norway
Services, % of GDP
56.1%
2024
51.8%
2024
Industry, % of GDP
30.1%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
3.91%
2024
2.04%
2024
GNI, Atlas method
$311B
2024
$548B
2024
GNI per capita, PPP
$32,850
2024
$105,770
2024
Total reserves including gold
$44.4B
2024
$81.2B
2024
Total reserves ranking
45/177
2024
32/177
2024
Net foreign direct investment
-$8.93B
2024
-$9.78B
2024
Net inflows of foreign direct investment
$12.5B
2024
$12.6B
2024
Net outflows of foreign direct investment
$3.59B
2024
$2.86B
2024
Poverty at national poverty lines
6.5%
2022
12.2%
2021
Gross capital formation, % of GDP
23.2%
2024
24%
2024

GDP per capita map

GDP per capita

Compare countries by 7 more topics

Economy comparisons

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.