Chile’s current account deficit narrowed to $1.78 billion in Q4 2024 from $2.66 billion a year earlier, primarily due to a significant increase in the goods surplus. The annual deficit also reduced to $4.85 billion from $10.50 billion in 2023, reflecting overall economic improvement.
In the fourth quarter of 2024, Chile’s current account deficit reduced to $1.78 billion, a significant decrease from $2.66 billion recorded in the same period of the previous year. This improvement can be attributed to a robust increase in the goods surplus, which rose to $4.76 billion from $3.53 billion year-on-year. However, the services gap experienced a slight contraction, decreasing to $2.21 billion compared to $2.36 billion in the prior year.
Additionally, the primary income gap expanded to $4.28 billion, up from $4.00 billion in 2023. Over the entire year of 2024, the current account deficit showed marked improvement, narrowing to $4.85 billion, down significantly from $10.50 billion reported in 2023. Overall, these figures reflect positive trends in Chile’s economic performance during this period.
In summary, Chile’s current account gap has shown remarkable improvement, with the quarterly deficit decreasing to $1.78 billion in Q4 of 2024. Notably, the goods surplus contributed significantly to this reduction. Furthermore, the overall annual deficit for 2024 fell sharply from the previous year, indicating a strengthening economic outlook. The data showcases Chile’s ability to enhance its trade balance and manage its current account effectively.
Original Source: www.tradingview.com
