Chile Economic Activity January 2021


Chile: Economic activity drops at sharper pace in January

March 2, 2021

In January, the IMACEC economic activity index fell 3.1% on an annual basis, following a softer 0.4% dip in December.

January’s drop reflected a 3.1% downturn in the non-mining economy (December: +0.6% yoy) as well as a 1.5% fall in the mining economy (December: -9.2% yoy). The decline in the non-mining economy was driven by contractions in activity in the services, industry and mining sectors only partially offset by an expansion in the trade sector.

In month-on-month seasonally-adjusted terms, economic activity expanded 1.3% in January (December: +3.6% month-on-month seasonally-adjusted).

FocusEconomics panelists project the economy to expand 4.8% in 2021, which is unchanged from last month’s forecast, and 3.4% in 2022.

Author: Massimo Bassetti, Senior Economist

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Chile Economic Activity Chart

Chile Economic Activity January 2021

Note: Year-on-year changes and annual average growth rate in %.
Source: Chile Central Bank (BCC) and FocusEconomics calculations.

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