BERTRAND MALLET - Inchcape

Chile Commercial OverviewRich countryResilienteconomyRichest country in South America in terms of GDP percapitaEconomy driven by exports of natural resources,supported by sound economic policiesDownturn lasted only 1 year (2009)High growtheconomyGrowingpopulationLarge middleclassStrong growth from 2003 to 2007 (GDP per capita morethan doubled during the period)Fast recovery since the end of 2009Chile is projected to be among the highest growtheconomies in Latin AmericaAlthough the Chilean population is small (17.2m) incomparison with some of its neighbours, it is forecast togrow over the next 5 yearsChile has a sizeable and well established middle class(one of the highest average household incomes in theregion)GDP growth(CAGR)Population(CAGR)2003-07 2008-09 2010-1522.1% (5.7)% 6.6%1.3% 1.4% 1.1%Inflation 1.1%-7.8% 7.0%-(1.3)% 3.7%-3.0%Chile is one of the strongest economies in Latin AmericaSource: IMF