Chile’s current account deficit narrowed to $1.78 billion in Q4 2024 from $2.66 billion year-on-year. The goods surplus increased to $4.76 billion, while the services gap decreased slightly. For the full year, the current account deficit shrank to $4.85 billion compared to $10.50 billion in 2023.
Chile’s current account deficit experienced a significant reduction, recording a gap of $1.78 billion in the fourth quarter of 2024, down from $2.66 billion in the same period the previous year. This improvement was primarily attributed to a notable increase in the goods surplus, which rose to $4.76 billion compared to $3.53 billion a year ago.
Additionally, the services gap showed a slight decrease, registering at $2.21 billion, down from $2.36 billion. Conversely, the primary income gap expanded, rising to $4.28 billion from $4.00 billion in the prior year.
Overall, for the entire year of 2024, Chile’s current account deficit also declined significantly, totalling $4.85 billion, a decrease from $10.50 billion in 2023. These figures indicate a positive trend in Chile’s economic balance.
In summary, Chile’s current account deficit displayed a substantial decrease in the fourth quarter of 2024, led by an improved goods surplus despite a slight downturn in services. The full year’s performance also reflected a sharp contraction in the overall deficit, providing positive signals for Chile’s economic health moving forward.
Original Source: www.tradingview.com
