Forecast: Financial Services Gross Value Added in Chile

The financial services Gross Value Added (GVA) in Chile has shown a general upward trend from 2013 to 2023, reaching 9.5821 trillion Chilean Pesos in 2023. Between 2013 and 2015, significant growth was observed, with a notable year-on-year increase of 7.68% in 2015 and a CAGR of 7.49%. Post-2015, the GVA continued to rise, albeit at a slower rate, with the year-on-year variation reaching a more modest 3.38% to 3.05% between 2016 and 2021. For the period 2018 to 2023, the growth rate plateaued slightly, culminating in a 2023 year-on-year variation of 2.62% and a five-year CAGR of 1.61%.

Looking forward, projections for 2024 to 2028 suggest a steady increase in the GVA, with an average yearly growth rate of 1.85%, reaching 10.768 trillion Chilean Pesos by 2028, which represents a total growth rate of 9.61% over these five years.

Future trends to watch for include advancements in digital banking, the potential for fintech innovation, and economic policy changes that might impact the financial sector's growth trajectory. Additionally, the global economic environment and local fiscal measures will play pivotal roles in shaping the growth dynamics of Chile’s financial services sector.