Chile

Wealth and National Well-Being

Country Comparisons:
2010: see chart

World Factbook: "Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports account for 40% of GDP, with commodities making up some three-quarters of total exports. Copper alone provides one-third of government revenue.

Debt

Public:
2010: 6.2% of GDP
2009: 6.1 of GDP

External debt
Dec 31, 2010: $84.51, 47.99% of revenues

Import/export ratio
2010: 118 favorable balance

Unemployment rate
2010: 8.7%
2009: 10%
2008: 7.8%

Military expenditures as a percentage of GDP
2006: 2.7%

People

Living in an urban area:
2010: 89%
2008: 88%

Geography

South America, bordering South Pacific Ocean. Compares in area to a little less than twice the size of Montana.

Government

Chief of state: president and also the head of government (like the U.S., no prime minister), elected by popular vote for one four-year term. Legislature: Senate (38 members) and Chamber of Deputies (120 members). Senators elected by popular vote to eight-year terms, deputies to four-year terms.

Recent History

World Factbook: After a series of elected governments, the three-year-old Marxist government of Salvador Allende was overthrown in 1973 by a military coup led by Augusto Pinochet, who ruled until a freely elected president was installed in 1990.

On March 12, 2006: Michelle Bachelet is inaugurated president. She belongs to the center-left coalition that has been in power since the end of military rule in 1990. The transfer of power from Ricardo Lago was with hugs and cheering for Lagos. Her rule appears to be a triumph over the hatred that reigned during the military rule, which left over 3,000 Chileans dead, including her father, an airforce general had opposed the military coup. Michelle Bachelet was one of those tortured during the dictatorship. Bachelet has been a successful advocate of reconciliation among Chileans. She speaks of a Chile united, with respect for Chile's military institutions, for businessmen, with equal opportunity and concern for the well-being of all. Nobody, she says, will be "left dangling" in indifference.

SOURCES:
http://www.cia.gov/cia/publications/factbook/