Chile’s economic performance plummets from 28th to 43rd place in Global Competitiveness ranking

SANTIAGO.- This year, energy supply is surfacing as a major weakness affecting Chile’s global competitiveness.

Although Chile remains in 26th place out of the total 55 economies studied by the 2008 Competitiveness ranking performed by the University of Chile and the IMD, our country currently occupies one of the last two slots (of 50) concerning energy supply, due to the fact that it is not adequately guaranteed for the future.

Other weaknesses that are affecting the country’s competitive stance are high inflation rates (where we fell to 48th place), government subsidies, labor regulations and low productivity.

The report indicates that the advantages Chile has over its neighboring countries have been deteriorating since, despite continuing to lead Latin American in the realm of competitiveness, it is now fighting to stay at the top of the list.

Perú, a country that was added to the study for the first time this year, is coming dangerously close to Chile, shortening the breach between the two nations.