Frequently asked questions

 

External Sector

Where can I find statistics on family remittances broken down by country?

In the chapter “External Sector”, methodologies section, you will find annual information detailing the amounts of family remittances sent and received by country of destination and origin.

Where can I find information on foreign direct investment?

In the chapter “External Sector”, Excel Statistics section, you will find the tables "Financial Account" and "Financial Account by Institutional Sector". For more details on direct foreign investment in Chile by geographical area and country of origin, please refer to the "Direct Foreign Investment" section.

Where do I find information on exported and imported products (amount and quantity)?

In the chapter “External Sector”, “Foreign Trade in Goods” section, you will find the quarterly publication "Foreign Trade Indicators", with detailed information on exported and imported products.

National Accounts by Institutional Sector

¿Qué se entiende por Unidad Institucional?

The defining trait of an institutional unit is its capacity to own goods and assets, to incur liabilities and to carry out economic activities and transactions with other units on its own behalf. Institutional units residing in the economy are divided into five mutually exclusive sectors:

  • a.Non-Financial Corporations;
  • b. Financial Companies;
  • c. Government Units, including social security funds;
  • d. Non-Profit Institutions Serving Households (NPISHs);
  • e. Households.

What is the household financing capacity/need ratio as a percentage of disposable income, and where can I find it?

The financing capacity or need is the accounting balance of the capital accumulation account, which results from applying an agent's internal financing sources to its gross accumulation. If the result is positive, the agent makes financial resources available to other economic agents; if it is negative, it shows its need for financing.

Likewise, the financing capacity/need ratio as a percentage of Household disposable income (national total accumulated during the year) means:

  • If positive, the percentage of households' financing capacity over their disposable income, and vice versa,
  • If negative, the percentage of financing required by households over their disposable income.

These data can be found in the statistical database of the Central Bank of Chile, in the “National Accounts” section.

What is measured by the national accounts by institutional sector?

National accounts by institutional sector are divided into non-financial, financial and balance sheet accounts. The first group corresponds to current accounts that record the production of goods and services, the generation of income in the production process, the distribution and redistribution of income between institutional units and its use for consumption and savings; the final balance of an account becomes the opening balance of the following account. The second group corresponds to accumulation accounts that record the acquisition and disposal of financial and non-financial assets and liabilities. Finally, financial balances relate the opening and closing balances for a particular type of asset or liability according to the period under study per institutional unit, whose variation between two points can be explained by transactions (acquisitions and disposals of financial assets and liabilities), price changes or other changes that affect the volume of assets or liabilities, recording each of these variations in an accumulation account.

What is the household debt-to-disposable-income ratio, and where can I find it?

The debt-to-income ratio for the whole Household sector measures the total stock of liabilities at the close of the accounting year as a percentage of its annual disposable income. It should not be interpreted as the financial burden on households, which represents the monthly amount households must disburse to meet their obligations. These data can be found in the Central Bank of Chile's statistical database, in the National Accounts section.

Monetary and Financial Statistics

Parities and Exchange Rates

What is the Observed Dollar, and how is it calculated?

The observed dollar is an indicator that reflects the value of the US dollar expressed in Chilean pesos. Its calculation is based on a weighted average of operations carried out in the local market during the previous bank business day. For more details, you can visit the calculation methodology in the following link: observed dollar

When is the Real Exchange Rate published?

The Real Exchange Rate is published on the 23rd of each month. If it is a bank holiday, it is published on the next bank business day.

How are parities and nominal exchange rates calculated?

The Central Bank of Chile publishes on a daily basis the parities of foreign currencies generally accepted in international markets. The published data correspond to market or central banks’ information of the previous bank business day according to the Chilean calendar. The exchange rates of the peso vis-à-vis other foreign currencies are calculated from the values in pesos of the daily parities of foreign currencies with respect to the US dollar, considering the daily value of the observed exchange rate.

I need the parity or exchange rate of a currency not available in the Central Bank's Statistical Database. Can the Central Bank give me the value of that parity or exchange rate?

The parities and exchange rates published by the Central Bank of Chile correspond to those available on the website www.bcentral.cl, which are incorporated in the official monthly transcription in compliance with the provisions of Agreement N° 1738-02-130306 of the Board of the Central Bank of Chile.

For currencies not included in the aforementioned Agreement, it is recommended to use alternative sources with referential information or to directly use the information published by the central bank of the corresponding country.

When is the Observed Dollar published?

The Central Bank of Chile publishes every day in the Official Gazette the value of the Observed Dollar in effect during the bank business day of its publication.

What is the difference between nominal exchange rates and parities?

The nominal exchange rates published by the Central Bank of Chile correspond to the amount of Chilean Pesos equivalent to one unit of the foreign currencies published in the Statistical Database. The parities reflect the units of each foreign currency with respect to one US dollar.

How can I request an exchange parity certificate?

For the list of currencies published in the Official Gazette of the Republic of Chile, which have legal force at the date of consultation, it is possible to request a certificate of exchange parity, issued by the Certifying Officer of the Central Bank. This request can be made to the e-mail address dineroybanca@bcentral.cl.

Derivatives and Spot

What are derivatives, and what is the difference between them and spot transactions?

A derivative transaction is a financial agreement in which the parties undertake to carry out a transaction in the future at a previously established price. On the other hand, in spot operations the transaction is carried out at the moment of the agreement (generally, a spot operation implies that the actual exchange takes place within a period no longer than two bank days after the agreement).

When are derivatives and spot exchange statistics published?

Information on flows and stocks is published on a daily basis. These data are presented in greater detail on the 23rd of each month in the Monthly Exchange Statistics Report. If it is a bank holiday, it is published on the following bank business day.

How are spot and derivatives exchange statistics calculated?

How are spot and derivatives exchange statistics calculated?
Spot and derivatives statistics are calculated on the basis of transactional information from operations carried out in the Formal Exchange Market (banks and a subset of securities brokers). For further details, you can access the calculation methodologies at the following links:

Interest Rates

What are interest rates?

The interest rate is a way of measuring the opportunity cost of money, which is assumed by the lender, either in a credit issued by a financial institution or in the deposits that can be made by economic agents. If it is a deposit, the interest rate determines the payment received by the person or company depositing the money in exchange for making that amount available to others. If it is a credit, the interest rate determines the amount that the debtor must pay to the lender for the use of that money.

How does the Central Bank of Chile calculate the published interest rate statistics?

Interest rate statistics are calculated based on information from the deposit and lending operations of the banks operating in the Chilean market. The calculated rates correspond to weighted averages according to the amounts transacted in such operations. For further details, you can access the calculation methodology at the following link: Methodology

Loans, Deposits and Investments

What are loans, deposits and financial investments?

The loan, deposit and investment series published by the Central Bank correspond to the current balance (stock) on the date indicated in the respective publication.

Loans correspond to credits granted by banks to their customers, with the customer’s implicit commitment to repay the loan in the future in installments or in a single payment. In most cases, the payment of the loan implies an additional interest that compensates the creditor for the opportunity cost assumed by the loan.

The deposit series comprises the operations of banking institutions, on demand or term, that involve receiving money from the public, be it as deposits, shares, transfers of trade bills or in any other form.

A financial investment is defined as resources invested in some type of financial instrument, such as shares, bonds or mutual funds by other entities, in order to obtain a higher return.

How are the statistics on loans, deposits and financial investments calculated, and what do they measure?

Statistics on loans, deposits and financial investments are built on the basis of the individual balance sheets of banking institutions.


For more details, you can access the calculation methodologies at the following links:

Monetary Aggregates

What are money and quasi-money?

Money is anything that members of a community are willing to accept as a means of payment for goods and services or as debt repayment.

A first definition of money comprises notes and coins, which is known as cash or currency. In economic terms, money is defined as: (i) store of value, i.e. a means of holding wealth; (ii) unit of measure, a pattern for denominating the prices of goods and services, providing a means for comparing values and preparing financial accounts; and (iii) means of payment, a means for acquiring goods and services without resorting to barter.

Quasi-money comprises payment instruments that are not completely liquid, such as time deposits, savings deposits and other deposits with less than a month’s term other than current accounts.

What is the monetary base?

The monetary base consists of the set of notes, coins and checks issued by the Central Bank of Chile and that are in the public's possession or as monetary reserves in banks and financial companies.

What do statistics on monetary aggregates measure, and how are they calculated?

Statistics on monetary aggregates measure money and the monetary base, current accounts and quasi-money, expressed in balance sheets, monthly averages and variations, in nominal, real and seasonally adjusted values. Their calculation is based on financial statement information provided directly by commercial banks, the Financial Market Commission and the Superintendence of Pensions.


For further details, the calculation methodology can be accessed at the following link:

Household Financial Survey

What is the Household Financial Survey?

The Household Financial Survey is a survey carried out by the Central Bank of Chile with the objective of collecting data on the financial balance of households.

What is the sample size and its representativeness?

In each Household Financial Survey, approximately 4,500 households throughout the country’s urban territory are interviewed. It is representative at macro-zone level: North (XV, I, II, III and IV), Center (V, VI, VII, XVI and VIII), South (IX, XIV, X, XI and XII) and Metropolitan Region.

When is the Household Financial Survey carried out?

To date, four surveys have been conducted, the first in 2007, and then again in 2011, 2014 and 2017. Under this system, the survey is carried out every 3 years, so the next one will be conducted during the second half of 2020.

Where do I find the Household Financial Survey and how often is it published?

The survey documentation and databases are available at www.efhweb.cl, and its results are published during the second half of the year following the survey.

Statistical Information Requests

How can I request statistical information not officially published by the Central Bank of Chile?

You must use the "Request Form for Statistical Information Not Officially Published by the Central Bank of Chile". This form should be addressed to the General Manager by post, through mailbox 967 Santiago, or to the Registry Office of the Central Bank of Chile located in Morandé 115, 3rd Floor. See also Agreement 1504-01-091008 "Criteria for the Delivery of Statistical Information Not Officially Published by the Central Bank of Chile".

Monthly Indicator of Economic Activity (Imacec)

Where do I find the Monthly Indicator of Economic Activity, and when is it published?

In the chapter “National Accounts”, “Monthly Indicator of Economic Activity” table, select variation in relation to the same period of the previous year. The Monthly Indicator of Economic Activity is published 31 days after the end of each month.

How is the Monthly Indicator of Economic Activity calculated?

You can find the methodology at the following link: Methodologies

Quarterly National Accounts

Where can I find Chile's nominal and real GDP?

In the chapter “National Accounts”, “Gross Domestic Product” table, base 2008.

Where can I find Chile's GDP per capita?

The value of Chile's GDP per capita can be found in the chapter “Main Macroeconomic Statistics”, “Annual Macroeconomic Indicators” table.

Are there spliced GDP series avaible?

In the chapter “National Accounts”, splices with base series 2008, “GDP and Income” table.

Why are national accounts measured using a moving price base?

The use of a moving price base in a splicing method enables regular updates with each new measurement, as quantities are valued at prices from the previous year. It is thus possible to reflect changes in the structure of the economy. This point is more important in economies with high relative price variations. In a fixed-price base methodology, the weighting structure may become obsolete over time.

Annual National Accounts

Where can I find Chile's nominal and real GDP?

In the “National Accounts” chapter, “Gross Domestic Product” table, base 2008.

Where can I find Chile's GDP per capita?

The value of Chile's GDP per capita can be found in the chapter “Main Macroeconomic Statistics”, “Annual Macroeconomic Indicators” table.

Are there spliced GDP series available?

In the “National Accounts” chapter, splices with base series 2008, “GDP and Income” table.

Why are national accounts measured using a moving price base?

The use of a moving price base in a splicing method enables regular updates with each new measurement, as quantities are valued at prices from the previous year. It is thus possible to reflect changes in the structure of the economy. This point is more important in economies with high relative price variations. In a fixed-price base methodology, the weighting structure may become obsolete over time.

Regional GDP

What information is available at regional level?

In the “National Accounts” chapter, you will find the GDP by region and economic activity.