Chile’s current account deficit narrowed to $1.78 billion in Q4 2024, down from $2.66 billion in Q4 2023. The goods surplus increased significantly to $4.76 billion, while the services gap reduced slightly to $2.21 billion. For the entire year, the current account deficit decreased to $4.85 billion from $10.50 billion in 2023.
In the fourth quarter of 2024, Chile’s current account deficit significantly decreased to $1.78 billion, down from $2.66 billion in the same quarter of 2023. This improvement can be attributed to a notable increase in the goods surplus, which rose to $4.76 billion compared to $3.53 billion last year.
Concurrently, the services gap experienced a slight reduction, decreasing to $2.21 billion from $2.36 billion in the previous year. Conversely, the primary income gap widened to $4.28 billion, increasing from $4.00 billion in the previous year.
For the entirety of 2024, Chile’s current account deficit further improved, decreasing to $4.85 billion from $10.50 billion recorded in 2023, reflecting a substantial advancement in the country’s financial balance.
In summary, Chile’s current account deficit for the fourth quarter of 2024 has shown a significant narrowing, largely due to a sharp rise in the goods surplus. Although there was a slight decline in the services gap, the primary income gap increased. Overall, the annual current account deficit also demonstrated notable improvement compared to the previous year.
Original Source: www.tradingview.com
