Chile BIP Veränderung zum Vorjahr

The Chilean economy expanded 2.3% year-on-year in Q3 2024, higher than 1.6% in Q2 and slightly above expectations of 2.2%. The mining sector grew 5.1%, following a 6% gain, led by copper while extraction of iron declined. The non-mining sector soared 2% after a 0.9% growth in Q2, led by personal services activities (7.1%), transportation (6.7%), manufacturing (3.2%), mostly food and chemical products, petroleum, rubber and plastic, and commerce (3.2%). In contrast, agricultural-forestry activity contracted 8.5%, mainly due to lower production of fresh vegetables. On the expenditure side, faster increases were seen for household (1% vs 0.7%) and government (5.3% vs 1.2%) spending while gross fixed capital formation continued to contract (-0.2% vs-3.1%), led by a fall in construction that was partially offset by greater investment in machinery and equipment. Both exports (6.4% vs 6.4%) and imports (1.5% vs -3%) increased. Compared to the previous period, the GDP in Chile expanded 0.7%.