Concept

Economy of Chile

Summary
The economy of Chile is a market economy and high-income economy as ranked by the World Bank. The country is considered one of South America's most prosperous nations, leading the region in competitiveness, income per capita, globalization, economic freedom, and low perception of corruption. Although Chile has high economic inequality, as measured by the Gini index, it is close to the regional mean. In 2006, Chile became the country with the highest nominal GDP per capita in Latin America. In May 2010 Chile became the first South American country to join the OECD. Tax revenues, all together 20.2069% of GDP in 2013, were the second lowest among the 34 OECD countries, and the lowest in 2010. Chile has an inequality-adjusted human development index of 0.722, compared to 0.720, 0.710 and 0.576 for neighboring Argentina, Uruguay and Brazil, respectively. In 2017, only 0.7% of the population lived on less than US$1.90 a day. The Global Competitiveness Report for 2009–2010 ranked Chile as
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