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South Africa vs Chile

By John MaynardMarket OverviewJul 11, 2018 15:28
za.investing.com/analysis/south-africa-vs-chile-200197255
South Africa vs Chile
By John Maynard   |  Jul 11, 2018 15:28
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In this article, we compare the economies of South Africa and Chile using various economic indicators such as exchange rate performance against the US Dollar, economic growth rates, and exports and imports structures.

Chile and South Africa are located on different continents, but they are both in the Southern Hemisphere, seen as emerging markets, exports and imports structures are very similar and the behaviour of their economies over timer are very similar. South Africa has the 33rd biggest economy in the world, and Chile the 42, according to 2017 IMF estimates.

Economic growth rates over time for South Africa and Chile

The line chart below shows the annual economic growth rates for both Chile and South Africa, and as the graphic shows while the annual growth rates are different, the trends followed by the respective countries economies are very similar. Since 1961, up to 2017 the two countries economic growth rates have averaged the following:

  • South Africa: 3.03%
  • Chile: 4.09%

Economic Growth Rates
Economic Growth Rates

So Chile has experienced a greater average annual economic growth rate over time than that of South Africa, even though their economic performance on an annual basis is far more volatile, their upswings are significantly higher than that of South Africa's economy but their downswings are far lower than that of South Africa. The graphic below takes a look at the exchange rate performance of the South African Rand and the Chilean Peso over the last 4 years.

Chile Vs South Africa
Chile Vs South Africa

As the graphic shows the exchange rate performance of the two countries currencies against the US dollar are very similar. The summary below shows the performance of the two countries exchange rates over various time periods such as 1 month, Year to Date (YTD) and over 4 year period:
A positive value shows a depreciation against the US dollar. So when looking at 1 month below, the Chilean Peso lost 3.3% against the US dollar while the South African Rand has lost 4.9% against the US dollar over the last month.

1 month:

  • Chilean Peso: 3.3%
  • South African Rand: 4.9%

Year to date (YTD):

  • Chilean Peso: 7.7%
  • South African Rand: 10.59%

12 months:

  • Chilean Peso: -0.8%
  • South African Rand: 4.45%

4 years:

  • Chilean Peso: 17.9%
  • South African Rand: 28%

The images below show just how similar the two currencies movements are over the various time periods

South Africa vs Chile
 

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South Africa vs Chile

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