Chile celebrated a landmark achievement in its industrial sector in February, showcasing a substantial annual growth of 7.9%—the highest since March 2018.
As reported by the National Institute of Statistics (INE), this surge signifies a broad-based recovery across multiple sectors, with manufacturing leading the charge.
Notably, the production of paper and related products jumped by 8.8%, highlighting the sector’s strong performance.
The mining sector wasn’t far behind, posting a 7.7% increase due to enhanced extraction of metallic and non-metallic minerals, as well as energy resources.
The sectors producing electricity, gas, and water also saw a notable rise of 5.9%, primarily driven by electricity generation.
President Gabriel Boric lauded these developments, signaling optimism for further progress.
As the year unfolded, the upward trend persisted. Industrial output rose by 1.5% in September, mainly due to mining and utilities.
This marked the second consecutive increase, becoming the most significant since December 2021 and highlighting a positive post-pandemic recovery trend.
November’s data further reinforced this trend, with the industrial production index (IPI) climbing 2.7% year over year, thanks to significant contributions from manufacturing and mining.
The manufacturing sector, in particular, benefited from a 19.2% boost in paper production.
Manufacturing and Mining Drive Chile’s Remarkable Industrial Revival
In October, the manufacturing sector’s index rose by 9.5%, driven by a 26.2% increase in chemical production.
Despite a dip in mining, the overall IPI grew by 1.1%, marking the third consecutive monthly increase.
The utilities sector experienced a modest 0.4% growth, supported by renewable energy sources.
These positive trends underscore Chile’s resilience and the industrial sector’s ability to adapt and grow, especially after the global pandemic.
The government’s strategic measures have played a crucial role in this success, particularly in vital areas like mining and manufacturing.
This series of developments not only marks Chile’s return to pre-pandemic industrial activity levels but also sets the stage for further economic stability and growth.