Measured in terms of assets, rather than Gross Domestic Product (GDP), Chile is the second wealthiest country in Latin America, according to the World Bank.

Its report, “The Changing Wealth of Nations 2018”, reveals that, in terms of natural, human and produced capital and net foreign assets, Chile’s per capita wealth reached US$237,713 in 2014, positioning it second in the region after Uruguay (US$ 254,601).

The most important component of Chile’s wealth is human capital which, measured as the net present value of the future earnings of the labor force, represented US$139,512 per capita.

It is followed by natural capital in the form of forests, protected areas, cropland, pastureland and subsoil assets, which amounted to US$55,113, while produced capital, which includes machinery, buildings, equipment and urban land, amounted to US$45,096.

Finally, net foreign assets, including portfolio equity, debt securities, foreign direct investment and other financial capital held in other countries, represented a liability of US$2,008.

Internationally, the richest country is Norway, with a per capita wealth of US$1,671.756, followed by Qatar (US$1,597,125) and Switzerland (US$1,466,757).

Check the report here.

Source: La Tercera