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FDI 2022: Canada remains the largest foreign investor in Chile

17 October, 2023
  • This week, Chile’s Central Bank released detailed figures on foreign direct investment in 2022, with Canada remaining the largest foreign investor in the country with a stock of US$36.2 billion.

Canada remains the largest foreign investor in Chile, according to figures released by the country’s Central Bank, which this week published a detailed report on foreign direct investment (FDI) in Chile in 2022. According to the report, Canada had an FDI stock of US$36.2 billion in Chile at the end of 2022, a US$4.05 billion increase compared to the previous year.

The second-largest foreign investor in Chile is the United States, with an FDI stock of US$25.2 billion, followed by the Netherlands (US$21.2 billion), the United Kingdom (US$20.0 billion), and Spain (US$18.3 billion).

The total FDI stock in Chile reached US$274.6 billion in 2022, thanks to an inflow of US$20.9 billion in the year, the highest since 2014.

Other relevant foreign investors in Chile include Italy (US$15.9 billion) and Belgium (US$6.21 billion) in Europe; Brazil (US$3.61 billion) and Colombia (US$3.24 billion) in Latin America; and Japan (US$4.07 billion) and Australia (US$2.41 billion) in Asia Pacific.

Foreign direct investment by region and sector

Chile’s Santiago Metropolitan Region (US$90.4 billion) and Antofagasta Region (US$40.2 billion) have been the leading recipients of the country’s FDI stock. Meanwhile, the main sectors have been mining (US$70.9 billion), energy (US$39.9 billion), and financial services (US$37.0 billion).

It should be noted that mining sector FDI increased significantly in 2022, reaching US$7.31 billion compared to US$3.59 billion in the previous year.

The Central Bank also provided figures on Chilean investments overseas.

According to the report, Brazil is the leading recipient of Chilean investment, with an FDI stock of more than US$15.0 billion, followed by the United States (US$12.0 billion), Peru (US$9.77 billion), Germany (US$9.75 billion), Colombia (US$7.05 billion), and the United Kingdom (US$5.52 billion).

See the figures on foreign investment in Chile to August here.