“Chile will be among largest economies in the world by 2011”
The above title, borrowed from a similarly named article published on the 10th of October by the Gerson Lehrman Group, describes concisely the subject of the study declaring Chile “among the three countries with the highest GDP growth worldwide” in 2011. Written and analyzed by the Group’s Legal, Economic & Regulatory Affairs Councils, the publication draws from various market and economic studies to estimate Chile’s maximum GDP growth in 2011 as approximately 6.5%, which, according to their calculations, will “lead the global growth next year,” being outshone only by China and India whose GDPs will round to 8.6% and 8.5% respectively.
Unlike many of the now weakened economic powerhouses in the Northern Hemisphere, Chile will not experience a financial lag in 2011 with its estimated growth of a healthy 6%, as explained by Alfredo Coutinho, director of Moody’s Latin America and John Edmunds, Professor of Finance and Research Director of the Institute for Latin American Business Studies at Babson College. Coutinho adds that the national investment rate should hover around “30% of the GDP… which is comparable only to the investment ratios in Asia” which, as all know, are burgeoning day-by-day.
Some of the sectors that will see most profitable and profound growth in 2011 are communications, growing by an estimated 9%, transport which will see a 6-7% growth, and trade– increasing by 6-6.5%. As a global leader in cell-phone usage with nearly 2 cellphones per inhabitant, it is no surprise that Chile’s communications economy will abound alongside the ever-dynamic technological advances seen in the same market. The economic partners, trade and transport, will similarly continue to flourish due to Chile’s massive export climate lead by copper, industrial goods (including salmon, wine, and machinery), and agricultural products.
It is only natural that Chile’s transport and trade sectors continue to flourish, as it is the nation leading the world in number of free-trade agreements signed, as was just recognized as the world’s 30th most competitive country–beating out Brazil, Mexico, and Argentina.