Chile’s current account deficit narrowed to $1.78 billion in Q4 2024 from $2.66 billion a year earlier, with a goods surplus increase to $4.76 billion. The services gap slightly decreased, while the primary income deficit rose. For 2024, the annual current account deficit improved to $4.85 billion down from $10.50 billion in 2023.
In the fourth quarter of 2024, Chile’s current account deficit improved, decreasing to $1.78 billion compared to $2.66 billion in the same period of the previous year. Notably, the goods surplus rose significantly to $4.76 billion from $3.53 billion a year earlier, suggesting enhanced export performance. On the other hand, the services gap saw a slight decrease, recorded at $2.21 billion, a drop from $2.36 billion.
Additionally, the primary income gap widened to $4.28 billion, up from $4.00 billion compared to the previous year. For the entire year of 2024, the current account deficit also showed a notable decline, standing at $4.85 billion, down from $10.50 billion in 2023, indicating an overall improvement in Chile’s economic balance.
In summary, Chile experienced a significant reduction in its current account deficit in the fourth quarter of 2024, supported by a robust increase in the goods surplus despite a small decline in the services sector. The primary income gap did widen, yet the annual performance reflects a substantial improvement compared to previous years, marking a positive trend for the country’s economy.
Original Source: www.tradingview.com
