Essential information

Ongoing leadership
Sophisticated talent
Entrepreneural Enviroment
A Latin American hub

Following a review by Chile’s Central Bank: foreign investment closed 2023 with a rise of 19.2%

18 March, 2024
  • Chile received US$21.7 billion in FDI last year. InvestChile report that this is the highest
    figure since 2015.

The Chilean Central Bank published its quarterly report, which included a review of foreign direct investment (FDI) for the last two years. The organization reported that Chile received investments totaling US$21.7 billion during 2023, a figure US$1.4 billion higher than the US$20.3 billion suggested in preliminary reports back in February.

Furthermore, investments received in 2022 fell by US$2.6 billion to US$18.3 billion. After these corrections, the increase in foreign direct investment received by Chile in 2023 was 19.2%. InvestChile reports that this increase was significantly influenced by the downward correction in the comparison figure. However, it adds that US$21.7 billion is the fourth highest figure over the last 20 years, and the highest figure over the last five years. The 2023 figure is 50% higher than the historical average, and 36% higher than the average for the last five years.

The final FDI for 2023 comprised US$10.7 billion in equity investments, followed by US$8.8 billion in reinvested profits and in third place US$2.1 billion in related debt.

Highest figure since 2015

For Economy Minister Nicolás Grau, the upward revision of foreign investment figures is good news, as it positioned 2023 as the year with the highest foreign investment inflow since 2015. “21.738 billion dollars is the highest foreign investment value in the last 10 years. This demonstrates that investors around the world are increasingly trusting in Chile. In 2022, we improved compared to 2021, and in 2023, we improved compared to 2022,” stated the Secretary of State.

The Executive Director of InvestChile, Karla Flores, added that this is the result of coordination between various State agencies and the private sector with the goal of attracting the investment that Chile needs and ensuring that it is aligned with the Government’s development strategy.

Flores explained, “these figures encourage us to continue striving as an agency. We are attracting investment to Chile that brings with it innovation, technology, training and best practices. This not only consolidates our regional leadership in key sectors such as technological infrastructure, decarbonization solutions, critical minerals and clean energy, but it also creates significant development for areas outside Santiago, as it boosts and diversifies their economic fabric and creates improved employment opportunities. Foreign investment helps us to make substantial
quality improvements in sectors where we need to rapidly progress. It is an economic driver that we all need to protect and strengthen.”