MercoPress. South Atlantic News Agency

Chile heading for 10.000 US dollars GDP per capita

The highest per capita income but no word about distribution

Chile is slated to become the first country in Latin America to reach a Gross Domestic Product (GDP) of over 10.000 US dollars per capita, according to a recent report by Columbia University's Economist Intelligence Unit.

The report "World Investment Prospects to 2011" shows that in Chile the income per head will rise from 9.520 this year to 10.600 US dollars in 2008. The increase isn't considered especially high, but it does turn Chile into the first Latin American country ever to end above the 10.000 US dollars barrier. Mexico is expected to follow behind Chile in 2008 with a GDP per head of 9.260 US dollars while Argentina will come in just below with GDP of 9.100 US dollars. The Chilean economy on a whole is expected to grow with an average 5.1% annually until 2011, which means that Chile's GDP per capita could amount to 17.200 US dollars in three years time. Argentina's GDP would be 22.300 US dollars in 2011 if the Argentine economy continues to grow as expected. Chileans may remain more prosperous then any of their neighbors. Still, in 2008 they would still be poorer than any country in the European Union, including countries such as the Czech Republic 17.600 and Slovakia 14.500 US dollars. The report also disclosed that Chile will receive the third highest amount of direct foreign investment for Latin American countries, 54.5 billion US dollars, behind Brazil with 137.5 billion and Mexico, 113 billion. Foreign investment in Chile until 2011 – when compared to its GDP - would be one of the highest of the emerging economies, after Hong Kong, Singapore and Vietnam. By Kristian de Leeuw The Santiago Times