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Piscal Policy Essay

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Below is an essay on "Piscal Policy" from Anti Essays, your source for research papers, essays, and term paper examples.

Chile, located on the west coast of South America, declared its independence from Spain in 1818. It has then accomplished in becoming one of South America’s most thriving and stable nation.   Chile’s economy is characterized as a nation prominent in foreign trade. It has developed a reputation for strong financial institutions and sound policy which has resulted in possessing the strongest sovereign bond rating in South America. Chile is involved in Mercosur, a regional trade agreement between Argentina, Brazil, Paraguay, Venezuela, and Uruguay. Apart from Mercosur, Chile has 22 trade agreements covering 60 countries including agreements with the European Union, China, India, South Korea, and Mexico. (CIA World Fact Book).    
In 2012, Chile’s GDP equaled $268.2 billion. 42.4% of Chile’s exports go to China, United States, Japan, South Korea and Brazil. 42.2% of Chile’s imports arrive from the United States, China, Argentina, Brazil and Germany. (FITA) Overall, Chile mostly exports copper, fruits, and fish products. As of 2012, Chile mostly imports mineral fuels and oil, machinery, vehicles and electric equipment and electronics. Similar to the goods in which Chile exports to and imports from its top five trading partners, are the same goods in which Chile exports towards the United States and imports from them. In 2012, 28% of Chile’s trade is with the United States. Chile imports more than it exports to the United States. In 2012, Chile recorded a surplus of $3.42 billion. (CIA World Fact Book) Chile’s major natural resource is Copper. Its economy is dominated by the industrial and the service sectors, which contribute to more than 96% of the GDP. (FITA) The main activity sectors in Chile are mining, manufactured products and agriculture. Chile may be categorized as a labor intensive nation. This can be attributed to the fact that Chile’s service industry constitutes close to 60% of the nation’s GDP and 64% of Chile’s labor force is allocated towards the service...

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