In 2021, Chile’s economy outperformed Colombia’s | international

2021 left panorama economic recovery In most countries of the world after the shock and sudden fall a year ago as a result of restrictions and loss of demand caused by the Covid-19 pandemic.

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The impetus for this revitalization was the relaxation of sanitary measures in most parts of the world in search of a “new normal,” which increased demand for fuel, for example, as well as private consumption.

This is the case The economies of Colombia and Chilethe fourth and fifth in the region, respectively.

Both, according to data provided by the International Monetary Fund (IMF), recorded historical annual growth in the previous year, with the Chilean economy distinguished, rebounding over the Colombian economy, which in that year was It has ceased to be the third largest in Latin America.

Thus, according to IMF data, the Chilean economygrew 11.7% in 2021 versus a 10.6% rebound in Colombian business activity.

This growth contrasts with the related declines of 6.1% and 7% that the economies of Chile and Colombia recorded last year.

According to the Bank of Chile, in addition to the gradual opening after the fall of 2020, the increase in demand as a result of state aid also contributed to the rise.
According to the Central Bank, among the activities that marked the past year Business and personal services.

In terms of prices, the Chilean economy amounted to $316,864 million, while the Colombian economy amounted to $314,268 million, according to data from the International Economic Organization.

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What will happen in 2022

Now, despite the momentum of the previous year, in 2022, Colombia will again be the fourth largest economy in the region, according to International Monetary Fund data.

For this international organization, Colombia 2022 will conclude with Gross Domestic Product: $351.281 Millionwhich is much ahead of the IMF forecast for the Chilean economy of $317,594 million.

In concrete numbers, Colombia’s GDP will grow by 5.8%, while Chile’s GDP will grow by a modest 1.5%.

Similarly, the high growth trend of Colombia will continue over the next four years, according to the forecasts of the International Monetary Fund, however, within several years, the spread will decrease significantly.

By 2023 Colombian Economy will expand by 3.6% achieving $370 billion, while Chile will grow 0.5% to $351,036 million.

From 2024 to 2026, Colombia’s GDP will grow at a rate of 3.4% per annum, weighing the economy down from $391,832 million in 2024 to $461,198 million in 2026. On the Chilean side, the economy will grow 1.7 % in 2024 and 2.2% in 2025, to the tune of $378,967 million and $405,893 million, respectively. By 2026, growth will be 2.5%, reaching $431,401 million.

Region

It must be remembered that Brazil is the largest economy in the region, with a GDP growth of 4.6% for 2021 with a volume of 1,608 million US dollars; It is followed by Mexico with a rise of 4.9% and a trading volume of 1,294 million USD.

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Even with a serious economic crisis, Argentina maintains its position as the third largest economy in the region according to the International Monetary Fund, with a recovery of 10.2% and Valued at $488.61 million.

By 2022, Brazil is expected to grow at a modest 0.8%, while Mexico will grow by 2%. Argentina will surprise to the upside at 4%, while Peru and Bolivia will do 3% and 3.8%, respectively. A year later, 2023, Brazil’s GDP could expand by 1.4% while Mexico would do so by 2.5% and Argentina by 3%, plus Peru and Uruguay.

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