Lucintel’s PESTLE Analysis of Chile 2014: External Demand and Domestic Consumption to Drive the Economy

Increase in external as well as domestic demand is expected to boost high economic growth of Chile. As the country is having world’s third largest copper reserves, so increase in copper prices will also have significant positive impact on the economic growth of Chile. Chilean economy is likely to grow to $283.7 billion at the current price by 2019, with a CAGR of 5.5% during 2014 to 2019. Economic recovery across the globe is likely to improve producer confidence that is likely to boost the demand of Copper. Lucintel expects a rebound in the economy by 2014, especially after a phase of recession in European countries.
Lucintel, a leading global management consulting and market research firm, has conducted a detailed analysis of this economy and presents its findings in “PESTLE Analysis of Chile 2014.” The study indicates that Chile is likely to face some challenges in its quest to achieve growth and competitive edge in the economy. High dependency on copper export is one of the major challenges for the Chile. The report also highlights the major drivers of the economy.
The service sector is contributing 69% of the GDP in Chile, where business services are playing crucial role. High growth in business services like administrative services and professional services are backed by the high skilled work force. Mining is one of the leading industries in Chile which contributes 14.2% to GDP. Huge copper reserves have led to the growth of the Mining industry.
Chile is known for its mining Industry, ranked third in world for copper output. Huge Copper reserves (28% of global reserves) are making mining support services industry an emerging industry of Chile. Mining Support service and capital goods industry are one of the emerging industries in Chile. It is expected that Chile will attract more than $50,000 million investment by 2017 in this industry. Lucintel highlights key challenges faced by Chile. Low R&D and high dependency over Copper export are concerning factors for the GDP growth of the country. On social front, Chile may face higher dependency ratio which is likely to increase to 16.6% in 2019 from 13.9% in 2013.
This report includes in depth analysis of the Macro economy of Chile, Political Scenario, Economic and business risk, Social and Technological analysis. This report provides the knowledge on leading industries and the emerging industries in the country.

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