Chile, officially known as The Republic of Chile is one of the most prospering and stable economic nations. It holds the privilege of being the most prosperous nation of the Latin America according to the competitive index among the world countries,the country has recorded a record 26% drop in poverty since 1990, expecting to be poverty free by the year 2014. With a steady growth in the economy, it almost stands to be in the list of the 30 wealthiest nations, the first South American nation to do so. In the year 2010 4,28,000 new jobs were created by the government and the salaries swelled by 4%. This has led many investors to love the Chile ETF and possible ask for a leveraged ETF.
Main economic sectors:
Agriculture: The agriculture sector accounts for the minor percentage (5%) of the total GDP but employs a substantial amount of the nation’s labor force, employing around 14% of the nation. The landscape and its position gives it multiple agricultural seasons as compared to other countries which get one or two seasons a year, thus helping in the Exchange-traded fund throughout the year.
Fishing: Salmon industry produces a large amount of salmon amounting to 38.2% of the total worldwide sales. The long coastline gives it the benefit of fishing over a larger area.
Mining: Mining industry is one of the most important industry of Chile, providing a stable ETF around the year and providing a third of the government income, producing coal, gold, iron, copper, silver, and molybdenum. The export of mining products amount to half of the county’s export with copper as the leading product.
Issues: Unemployment account to around 6% of the total population, however several critics argue that the official poverty report figures are too low. Chile has a high economic inequality.
Chile ETF: Chile’s ETF was one of the top performing ETF of the year 2009-2010,during this period the economic activity grew up by over 6.6%.