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Economy of Chile vs Philippines compared: GDP & Debt

Updated on by Georank team

Chile has a GDP of $330B compared to $462B for the Philippines, ranking 46/197 and 35/197 by economy size, respectively.

Chile has $139B in government debt (43% of GDP), compared to $263B (58.1% of GDP) in the Philippines.

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 $
Philippines
GDP, current $

GDP, constant 2015 $
Year GDP
Chile Philippines
Current $ Constant $ Current $ Constant $
1960 $4,211,103,677 $26,275,664,125 $7,515,894,111 $31,344,414,578
1961 $4,948,564,551 $27,725,978,495 $8,171,194,425 $33,129,626,605
1962 $5,765,971,144 $28,815,827,040 $4,954,593,072 $34,735,185,774
1963 $5,702,520,146 $30,454,488,579 $5,505,023,238 $37,172,298,520
1964 $6,065,708,668 $31,204,014,437 $5,953,756,195 $38,437,083,909
1965 $6,183,988,944 $31,413,343,022 $6,517,349,772 $40,491,580,380
1966 $7,256,882,086 $35,014,387,052 $7,189,017,888 $42,289,875,657
1967 $7,145,068,068 $36,270,742,032 $7,724,873,935 $44,498,543,745
1968 $7,286,820,526 $37,566,955,711 $8,632,749,269 $46,740,451,308
1969 $8,456,519,044 $39,108,395,437 $9,571,800,653 $48,932,332,358
1970 $9,261,006,540 $39,771,076,474 $7,559,115,517 $50,739,152,607
1971 $10,999,807,567 $43,577,595,610 $8,375,075,630 $53,473,489,812
1972 $12,057,501,635 $43,267,163,670 $9,067,815,521 $56,377,307,515
1973 $17,237,336,173 $41,087,469,486 $11,412,449,735 $61,328,367,804
1974 $16,584,311,220 $41,600,890,292 $15,607,882,555 $63,410,224,489
1975 $7,812,161,793 $36,494,895,964 $16,875,240,684 $66,866,781,056
1976 $10,523,479,089 $37,810,425,598 $19,381,055,197 $72,736,616,791
1977 $14,272,711,437 $42,025,983,482 $22,283,109,803 $76,782,933,145
1978 $16,373,093,554 $45,399,335,594 $25,762,224,563 $80,769,798,288
1979 $22,249,574,628 $49,229,142,624 $31,218,296,292 $85,289,329,759
1980 $29,586,676,576 $53,252,287,646 $36,848,080,899 $89,724,981,381
1981 $35,180,322,211 $56,830,116,589 $40,499,388,869 $92,795,557,533
1982 $19,710,229,067 $50,293,481,314 $42,206,011,275 $96,227,514,092
1983 $20,629,678,694 $47,811,382,483 $37,759,179,895 $98,052,903,643
1984 $19,974,595,028 $49,716,049,397 $35,730,185,634 $91,150,588,918
1985 $17,933,557,360 $51,482,161,644 $34,961,486,348 $84,899,137,702
1986 $19,197,818,085 $54,265,063,039 $33,987,207,295 $87,879,678,171
1987 $22,605,488,851 $57,921,900,186 $37,791,488,666 $91,712,822,474
1988 $26,174,858,614 $62,179,629,421 $43,152,128,959 $97,854,767,009
1989 $30,101,767,991 $68,620,417,336 $48,513,773,721 $103,906,025,759
1990 $33,428,580,448 $71,089,876,110 $50,508,286,642 $107,109,108,270
1991 $38,232,330,917 $76,603,750,426 $51,784,144,943 $106,641,694,746
1992 $46,538,895,686 $85,414,661,278 $60,422,328,242 $107,087,061,460
1993 $49,934,943,321 $91,125,130,549 $62,036,529,147 $109,423,583,330
1994 $57,438,273,591 $95,751,374,591 $73,159,336,915 $114,209,405,301
1995 $73,820,425,702 $104,613,573,720 $84,644,328,727 $119,491,847,401
1996 $78,584,098,984 $112,056,685,780 $94,648,084,429 $126,494,485,337
1997 $85,741,415,285 $120,339,623,826 $94,106,317,565 $133,055,010,092
1998 $81,990,010,704 $125,370,887,065 $74,492,416,330 $132,370,986,793
1999 $75,578,685,736 $125,027,832,954 $85,640,171,045 $136,800,717,247
2000 $78,339,750,721 $131,243,743,563 $83,669,788,377 $142,796,015,522
2001 $71,574,739,561 $135,383,217,072 $78,921,234,458 $147,150,196,386
2002 $70,264,045,939 $139,719,269,577 $84,307,345,888 $152,618,672,919
2003 $76,492,579,644 $146,318,553,367 $87,039,092,974 $160,382,249,186
2004 $99,075,985,774 $156,084,225,514 $95,001,999,685 $170,918,125,627
2005 $122,294,145,163 $165,194,933,118 $107,419,977,318 $179,365,762,736
2006 $153,843,518,171 $175,189,211,416 $127,652,926,368 $188,901,594,317
2007 $172,491,076,034 $184,243,394,523 $155,980,408,673 $201,216,639,994
2008 $179,894,594,475 $191,225,100,461 $181,624,626,327 $209,958,471,374
2009 $171,777,900,624 $189,087,132,633 $175,974,755,881 $212,999,348,337
2010 $217,051,209,239 $200,151,851,762 $208,368,893,151 $228,621,785,457
2011 $251,382,573,894 $212,609,096,429 $234,216,730,291 $237,442,546,235
2012 $267,024,782,487 $225,695,909,225 $261,920,540,963 $253,818,843,989
2013 $277,395,018,842 $233,163,076,995 $283,902,828,589 $270,952,964,501
2014 $259,560,978,224 $237,342,873,662 $297,483,555,338 $288,153,024,772
2015 $242,450,355,831 $242,450,355,831 $306,445,871,242 $306,445,871,242
2016 $249,344,863,928 $246,700,604,516 $318,627,003,017 $328,355,086,269
2017 $276,154,259,981 $250,050,047,210 $328,480,736,803 $351,113,338,966
2018 $295,857,562,992 $260,027,117,803 $346,841,896,587 $373,379,140,696
2019 $278,285,058,719 $261,676,645,417 $376,823,402,239 $396,224,439,237
2020 $254,042,159,309 $245,600,606,669 $361,751,145,452 $358,510,629,276
2021 $315,325,547,162 $273,390,120,031 $394,087,359,848 $378,998,554,989
2022 $301,226,575,540 $279,278,925,616 $404,353,369,605 $407,730,367,707
2023 $335,518,054,098 $280,734,996,501 $437,055,627,244 $430,232,801,526
2024 $330,267,137,372 $288,158,504,435 $461,617,509,782 $454,721,721,977

Economic indicators

Chile Philippines
Gross domestic product
$330B
2024
$462B
2024
GDP rank
46/197
2024
35/197
2024
GDP growth
-1.57%
2023-2024
5.62%
2023-2024
GDP per capita
$16,710
2024
$3,985
2024
GDP per capita rank
65/197
2024
130/197
2024
GDP per capita, PPP
$34,637
2024
$11,794
2024
Government debt
$139B
2024
$263B
2024
Debt-to-GDP ratio
43%
2025
58.1%
2025
Government debt per person
$7,015
2024
$2,274
2024
Government debt per person rank
69/185
2024
115/185
2024
Average annual personal income after taxes
$9,593
2025
$3,821
2025
Market capitalization of domestic companies
$262B
2024
$252B
2024
Number of millionaires
81,274
2024
n/a
Number of billionaires
6
2025
15
2025
Income share by richest 10%
34.5%
2022
31.6%
2023
Income share by poorest 10%
2.3%
2022
2.9%
2023
Government expenditure, % of GDP
26.6%
2025
24.1%
2025
Consumer prices inflation
4.3%
2023-2024
3.21%
2023-2024
Central bank interest rate
4.75%
2025
5.25%
2025
Unemployment rate
8.76%
2024
2.41%
2023
Population
19928941
117540050

GDP per capita in Chile vs Philippines

Chile's GDP per capita is $16,710, ranking 65/197, compared to $3,985 in the Philippines, ranking 130/197. Adjusted for purchasing power (GDP per capita PPP), Chile ranks 64th at $34,637, while the Philippines ranks 124th at $11,794.

Chile
GDP per capita

GDP per capita, PPP
Philippines
GDP per capita

GDP per capita, PPP
Year Current $
Chile Philippines
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $516 - $269.5 -
1961 $594 - $283.8 -
1962 $679 - $166.7 -
1963 $658 - $179.5 -
1964 $686 - $188.2 -
1965 $686 - $199.8 -
1966 $790 - $213.8 -
1967 $764 - $223.1 -
1968 $766 - $242.2 -
1969 $874 - $261.1 -
1970 $941 - $200.9 -
1971 $1,099 - $217.4 -
1972 $1,185 - $230.1 -
1973 $1,667 - $283.2 -
1974 $1,579 - $379 -
1975 $732 - $401 -
1976 $971 - $449 -
1977 $1,297 - $502 -
1978 $1,465 - $565 -
1979 $1,962 - $667 -
1980 $2,571 - $767 -
1981 $3,012 - $821 -
1982 $1,663 - $833 -
1983 $1,715 - $723 -
1984 $1,636 - $665 -
1985 $1,447 - $633 -
1986 $1,525 - $600 -
1987 $1,767 - $650 -
1988 $2,014 - $722 -
1989 $2,278 - $792 -
1990 $2,488 $4,445 $804 $2,608
1991 $2,798 $4,886 $804 $2,621
1992 $3,352 $5,563 $917 $2,629
1993 $3,541 $6,061 $919 $2,684
1994 $4,012 $6,476 $1,060 $2,800
1995 $5,081 $7,232 $1,200 $2,926
1996 $5,334 $7,895 $1,311 $3,082
1997 $5,742 $8,511 $1,273 $3,221
1998 $5,420 $8,850 $983 $3,160
1999 $4,934 $8,839 $1,101 $3,229
2000 $5,053 $9,376 $1,051 $3,366
2001 $4,564 $9,776 $970 $3,469
2002 $4,431 $10,133 $1,015 $3,580
2003 $4,773 $10,709 $1,027 $3,761
2004 $6,121 $11,612 $1,100 $4,037
2005 $7,480 $12,550 $1,220 $4,289
2006 $9,319 $15,511 $1,426 $4,579
2007 $10,346 $16,698 $1,713 $4,923
2008 $10,683 $16,376 $1,959 $5,144
2009 $10,099 $15,951 $1,864 $5,157
2010 $12,633 $17,918 $2,163 $5,489
2011 $14,487 $20,122 $2,384 $5,705
2012 $15,242 $21,366 $2,615 $6,094
2013 $15,684 $22,201 $2,781 $6,373
2014 $14,530 $22,554 $2,867 $6,689
2015 $13,434 $22,458 $2,910 $6,894
2016 $13,650 $23,257 $2,985 $7,383
2017 $14,880 $24,295 $3,038 $7,774
2018 $15,659 $25,305 $3,169 $8,358
2019 $14,496 $25,612 $3,401 $8,924
2020 $13,115 $25,351 $3,228 $8,238
2021 $16,207 $29,090 $3,484 $8,858
2022 $15,406 $30,820 $3,548 $10,131
2023 $17,067 $32,801 $3,804 $10,986
2024 $16,710 $34,637 $3,985 $11,794

Spending and national debt comparison

In 2024, Chile's government spending was $87.5B, accounting for 26.6% of its GDP, while the Philippines' spent $116B, or 24.1% of GDP.

Debt-to-GDP ratio is 43% in Chile and 58.1% in the Philippines, ranking 126/185 and 89/185, respectively.

Chile
Government spending

Government debt
Philippines
Government spending

Government debt
Year % of GDP
Chile Philippines
Government spending Government debt Government spending Government debt
1960 19.7% 7.02% 10.1% 16.6%
1961 19.5% 7.97% 9.6% 16.5%
1962 21.3% 6.99% 10.8% 15.9%
1963 18.9% 9.23% 10.4% 14.1%
1964 17.8% 9.6% 9.66% 14.2%
1965 20.5% 12.6% 9.48% 15%
1966 20.5% 12.6% 9.77% 14.4%
1967 19.1% 14.9% 10.2% 15.4%
1968 19.3% 17.9% 11.2% 15.7%
1969 18.7% 21.5% 11.5% 16.4%
1970 21.1% 26.3% 10.4% 16.8%
1971 27.2% 20% 11.2% 14.8%
1972 35% 10.1% 13.4% 14.2%
1973 30.8% 11.1% 14% 11.5%
1974 32.3% 18.8% 10.7% 13.4%
1975 33.6% 28.4% 15.1% 13%
1976 30% 19.5% 13.8% 16.8%
1977 30% 16.5% 13.3% 19.8%
1978 29.4% 26% 13.3% 23.1%
1979 24.8% 23.2% 11.9% 22.5%
1980 23.8% 17.4% 13.4% 24.8%
1981 26.4% 14% 13.7% 27.6%
1982 30.1% 20.3% 12.8% 32.9%
1983 29.2% 45.5% 12.2% 43.1%
1984 30% 56.6% 10.1% 45.8%
1985 28.5% 79.8% 11.3% 53.1%
1986 26.6% 88.4% 13.5% 77.7%
1987 22.9% 81.6% 15.7% 79.2%
1988 21.3% 71.2% 15.9% 69%
1989 19.8% 51.9% 15.7% 55.2%
1990 20.9% 50.3% 18.8% 56.2%
1991 21.2% 37% 18% 55.6%
1992 20.8% 30.3% 18.4% 53.9%
1993 21.1% 28% 17.6% 73.9%
1994 20.6% 22.6% 19.7% 63.6%
1995 19.4% 17.2% 19.1% 60.8%
1996 20.6% 14.6% 19.6% 53.1%
1997 20.6% 12.8% 20.3% 56.9%
1998 21.9% 12.1% 20.3% 50.8%
1999 23.7% 13.3% 20.7% 54.2%
2000 22.9% 13.1% 20.8% 59.2%
2001 23.2% 14.3% 21% 59.5%
2002 23.2% 15% 20.6% 65.2%
2003 22.2% 12.6% 20.4% 71.4%
2004 20.8% 10.3% 19.4% 71.1%
2005 20.2% 7.04% 18.7% 64.7%
2006 18.7% 5.02% 18.3% 57.2%
2007 19.3% 3.9% 18.2% 50.2%
2008 21.8% 4.92% 17.9% 50%
2009 25% 5.84% 19.2% 49.8%
2010 23.5% 8.61% 18.3% 47.6%
2011 22.9% 11.1% 17.2% 45.4%
2012 23.1% 11.9% 17.7% 45.7%
2013 23.1% 12.8% 17.3% 43.9%
2014 23.9% 15% 16.8% 40.3%
2015 25% 17.4% 17.8% 39.7%
2016 25.4% 21.1% 19% 37.4%
2017 25.5% 23.7% 19.5% 38.1%
2018 25.6% 25.8% 20.9% 37.1%
2019 26.5% 28.3% 21.7% 37%
2020 29.1% 32.4% 25.9% 51.6%
2021 33.6% 36.4% 27.2% 57%
2022 26.7% 37.9% 25.9% 57.4%
2023 27.4% 39.4% 24.7% 56.5%
2024 26.5% 42% 25.1% 57.1%
2025 26.6% 43% 24.1% 58.1%

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 the Philippines' deficit of -$18.5B, or -4% of GDP.

Over the past 65 years, Chile recorded a fiscal deficit in 41 of those years, while the Philippines ran a deficit in 48 years. On average, Chile posted an annual deficit equal to -0.61% of GDP, compared to deficit of -0.98% of GDP for the Philippines.

Deficit/surplus
Chile

Philippines
Year Deficit/surplus, % of GDP
Chile Philippines
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% -
1882 -2.86% -
1883 -3.57% -
1884 -3.23% -
1885 -2.46% -
1886 -5.17% -
1887 -4% -
1888 -0.58% -
1889 -2.71% -
1890 -3.65% -
1891 -6.72% -
1892 -1.33% -
1893 -0.59% -
1894 0.82% -
1895 -2.31% -
1896 -5.36% -
1897 -1.78% -
1898 -3.84% -
1899 -0.78% -
1900 -1.89% -
1901 -3.93% -
1902 -3.65% -
1903 -1.35% -
1904 -1.6% -
1905 -1.31% -
1906 -2.8% -
1907 -2.39% -
1908 -0.84% -
1909 -2.26% -
1910 -3.17% -
1911 -3.32% -
1912 -3.29% -
1913 -2.23% -
1914 -2.67% -
1915 -2.13% -
1916 0.98% -
1917 0.49% -
1918 0.71% -
1919 -2.53% -
1920 -1.8% -
1921 -0.57% -
1922 -0.23% -
1923 2.87% -
1924 3.68% -
1925 2.44% -
1926 -3.23% -
1927 -0.17% -
1928 4.11% -
1929 1.89% -
1930 1.47% -
1931 -2.73% -
1932 -0.32% -
1933 1.76% -
1934 2.42% -
1935 4.23% -
1936 2.62% -
1937 1.42% -
1938 1.25% -
1939 1.74% -
1940 2.64% -
1941 1.9% -
1942 1.51% -
1943 0.81% -
1944 0.25% -
1945 0.73% -
1946 0.12% -2.54%
1947 -0.2% 0.05%
1948 2.56% -0.65%
1949 1.71% -2.33%
1950 -0.92% -0.19%
1951 -0.71% 1.5%
1952 -1.82% 0.49%
1953 -4.05% -0.88%
1954 -2.84% -0.79%
1955 -2.79% -1.3%
1956 -1.3% -0.77%
1957 -0.71% -0.56%
1958 -0.1% -0.21%
1959 1.56% -0.15%
1960 -3.14% -1.06%
1961 -2.89% -0.29%
1962 -4.31% -0.43%
1963 -3.29% -0.68%
1964 -2.24% -0.99%
1965 -1.64% -1.53%
1966 -1.88% -0.74%
1967 -0.64% -1.35%
1968 -0.79% -2.33%
1969 0.6% -2.67%
1970 -1.22% -0.31%
1971 -7.98% -0.96%
1972 -12.7% 3.39%
1973 -7.32% 2.49%
1974 -5.79% 5.94%
1975 -0.41% 0.13%
1976 -0.48% -0.55%
1977 -1.11% -0.42%
1978 -0.11% 0.05%
1979 4.82% 1.54%
1980 5.41% 0.56%
1981 2.56% -1.09%
1982 -1.02% -0.88%
1983 -2.67% 0.1%
1984 -2.95% 0.64%
1985 -2.22% 0.71%
1986 -0.92% -0.55%
1987 2.36% -1.06%
1988 4.07% -2.71%
1989 5.31% -1.64%
1990 2.24% -1.52%
1991 1.54% -0.26%
1992 2.09% -0.43%
1993 1.41% 0.63%
1994 1.43% -0.44%
1995 3.09% -0.02%
1996 2.07% 0.54%
1997 2.04% 0.37%
1998 0.39% -1.31%
1999 -2.02% -2.29%
2000 -0.69% -3.27%
2001 -0.49% -3.49%
2002 -1.17% -3.71%
2003 -0.42% -3.49%
2004 2.05% -2.81%
2005 4.57% -1.62%
2006 7.51% -0.05%
2007 7.95% -0.28%
2008 3.93% 0.02%
2009 -4.26% -2.57%
2010 -0.36% -2.25%
2011 1.43% -0.38%
2012 0.68% -0.22%
2013 -0.47% 0.37%
2014 -1.5% 1.32%
2015 -2.09% 0.15%
2016 -2.66% -0.74%
2017 -2.63% -0.75%
2018 -1.48% -1.48%
2019 -2.73% -1.5%
2020 -7.1% -5.54%
2021 -7.53% -6.23%
2022 1.36% -5.48%
2023 -2.27% -4.37%
2024 -2.74% -4%
2025 -2.01% -3.88%

Inflation comparison by year

Over the past 29 years, Chile has recorded an average annual inflation rate of 4.01%, compared with 4.36% in the Philippines. In 2024, inflation was 4.3% in Chile and 3.21% in the Philippines.

Inflation
Chile

Philippines
Year Inflation
Chile Philippines Chile Philippines
1996 7.36% 7.48%
1997 6.13% 5.59%
1998 5.11% 9.23%
1999 3.34% 5.94%
2000 3.84% 3.98%
2001 3.57% 5.35%
2002 2.49% 2.72%
2003 2.81% 2.29%
2004 1.05% 4.83%
2005 3.05% 6.52%
2006 3.39% 5.49%
2007 4.41% 2.9%
2008 8.72% 8.26%
2009 0.35% 4.22%
2010 1.41% 3.79%
2011 3.34% 4.72%
2012 3.01% 3.03%
2013 1.79% 2.58%
2014 4.72% 3.6%
2015 4.35% 0.67%
2016 3.79% 1.25%
2017 2.18% 2.85%
2018 2.43% 5.31%
2019 2.56% 2.39%
2020 3.05% 2.39%
2021 4.52% 3.93%
2022 11.6% 5.82%
2023 7.58% 5.98%
2024 4.3% 3.21%

Top exports between countries

Chile
Export category Export value
Raw materials & minerals $257M
Animal & marine products $43.2M
Wood & paper products $6.47M
Processed food, beverages & tobacco $6.28M
Raw agricultural goods $1.98M
Miscellaneous $1.04M
Machinery & equipment $578K
Chemicals & pharma $257K
Textiles & consumer goods $115K
Metals $44K
Philippines
Export category Export value
Machinery & equipment $27.2M
Chemicals & pharma $4.82M
Textiles & consumer goods $4.3M
Raw agricultural goods $4.13M
Processed food, beverages & tobacco $3.08M
Raw materials & minerals $588K
Precious metals & jewellery $271K
Metals $212K
Wood & paper products $28K
Animal & marine products $2K

Balance of trade

Chile Philippines
Current account balance
-$4.85B
2024
-$17.5B
2024
Current account balance ranking
165/189
2024
182/189
2024
Current account balance, % of GDP
-1.47%
2024
-3.79%
2024
Goods imports
$78.1B
2024
$124B
2024
Goods exports
$99.2B
2024
$55B
2024
Service imports
$21.1B
2024
$37.4B
2024
Service exports
$12B
2024
$52B
2024
Imports of goods and services, % of GDP
30.1%
2024
40.1%
2024
Exports of goods and services, % of GDP
33.7%
2024
25.8%
2024

Economic freedom indices

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

Chile Philippines
Economic freedom 73.2 60.6
Economic freedom ranking 23/197 91/197
Property rights 71.3 47.4
Government integrity 67.9 35.3
Judicial effectiveness 87.8 42.5
Tax burden 72.5 79.1
Government spending 74.4 79.9
Fiscal health 84.2 47.7
Business freedom 79.5 69.1
Labor freedom 61.3 57.7
Monetary freedom 71.8 69.8
Trade freedom 78 79.2
Investment freedom 60 60
Financial freedom 70 60

Economic freedom by year comparison

The Economic Freedom Index for Chile is 73.2, ranking 23/197, compared to 60.6 for the Philippines, ranking 91/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Chile
Philippines
Year Economic freedom index
Chile Philippines
1995 71.2 55
1996 72.6 60.2
1997 75.9 62.2
1998 74.9 62.8
1999 74.1 61.9
2000 74.7 62.5
2001 75.1 60.9
2002 77.8 60.7
2003 76 61.3
2004 76.9 59.1
2005 77.8 54.7
2006 78 56.3
2007 77.7 56
2008 78.6 56
2009 78.3 56.8
2010 77.2 56.3
2011 77.4 56.2
2012 78.3 57.1
2013 79 58.2
2014 78.7 60.1
2015 78.5 62.2
2016 77.7 63.1
2017 76.5 65.6
2018 75.2 65
2019 75.4 63.8
2020 76.8 64.5
2021 75.2 64.1
2022 74.4 61.1
2023 71.1 59.3
2024 71.4 59
2025 73.2 60.6

More economic indicators

Chile Philippines
Services, % of GDP
56.1%
2024
63.2%
2024
Industry, % of GDP
30.1%
2024
27.7%
2024
Agriculture, forestry, and fishing, % of GDP
3.91%
2024
9.08%
2024
GNI, Atlas method
$311B
2024
$518B
2024
GNI per capita, PPP
$32,850
2024
$13,330
2024
Total reserves including gold
$44.4B
2024
$106B
2024
Total reserves ranking
45/177
2024
27/177
2024
Net foreign direct investment
-$8.93B
2024
-$6.06B
2024
Net inflows of foreign direct investment
$12.5B
2024
$8.93B
2024
Net outflows of foreign direct investment
$3.59B
2024
$2.87B
2024
Servicing debt to the IMF, % of GNI
n/a
2.68%
2023
Poverty at national poverty lines
6.5%
2022
15.5%
2023
Gross capital formation, % of GDP
23.2%
2024
23.7%
2024

GDP per capita map

GDP per capita

Compare countries by 7 more topics

Economy comparisons

Economy vs Chile vs Philippines
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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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.