Current Economic Indicators

Glossary

IMACEC (Monthly indicator of economic activity): This indicator estimates the net output of goods and services during the specified month becoming a timely short-term predictor of GDP. Its calculation is based on the weighing, coverage, valuation and sectoral methods defined on the 2003 benchmark compilation.
Seasonally adjusted series: Computed on the basis of the X - 12 Arima model available at www.census.gov. The seasonally adjusted series excludes the seasonal and calendar effects.
Cyclical tendency series: The cyclical tendency series corresponds to the seasonally adjusted series dismissing the irregular component. The Arima model selected is (1,0,1) (0,1,1). For more detailed information on the seasonal-adjusting methodology see Working Paper Nº 177
MONETARY AGGREGATES More details in Arraño E. "Agregados Monetarios: Nuevas Definiciones". Serie de Estudios Económicos y Estadísticos N° 53. Banco Central de Chile (May 2006).
C: Currency in circulation. Including banknotes, coins and checks issued by the Central Bank of Chile, at present freely circulating, less cash balances of the financial system.
E: Monetary base Monetary base. Including banknotes, coins and checks issued by the Central Bank of Chile, at present freely circulating, plus deposits of the financial system in the Central Bank of Chile.
M1 Currency in circulation (C), plus demand deposits in checking accounts of the nonfinancial private sector net of float (D1), plus demand deposits other than those in checking accounts (Dv) and plus demand savings deposits (Ahv).
M2 M1 plus time deposits of the private sector (Dp), plus time saving deposits (Ahp), plus mutual funds (FM) quotas in up to one-year instruments (non financial private sector) and plus deposits of Saving and Credit Cooperatives (CAC), less FM investments in M2 and less CAC investments in M2.
M3 M2 plus foreign exchange deposits of the private sector, plus instruments of the Central Bank, plus Treasury bonds, plus credit bills, plus other Mutual Funds (FM) quotas, plus AFP voluntary saving quotas, less FM investments in M3 and less AFP investments in M3.
TRADE BALANCE

Trade Balance is the difference between exports and imports expressed in US dollar fob.

Trade balance figures represent actual imports and exports, based on statistics of the National Customs Services to which the pertinent coverage and valuation adjustments have been made in order to arrive at the figures used in the Balance of Payments.
Export of goods: Are the goods sold by residents to nonresidents in Chile.
Imports of goods: Are goods bought by residents from nonresidents in Chile.
Fob value: Value of goods at port of departure, free on board; that is excluding cost of insurance and freight.
Cif value: Includes value of goods in the country of origin plus cost of insurance and freight to port of destination.
"Other" The "other" category of exports and imports cif, includes: duty-free zones, non-monetary gold, repairs on goods and goods procured in ports by non-resident carriers.