Santiago de Chile, Apr 30 (EFECOM).- Industrial production in Chile increased by 0.7% in March, compared to the same month in 2023, due to the positive impact of mining, the National Institute of Statistics reported this Tuesday. (INE).
The Manufacturing Production Index (IPMan), one of the three indicators that make up the Industrial Production Index (IPI), recorded a decrease of 2.1% in twelve months, largely explained by the year-on-year drop of 9. 2% in the production of food products, according to the entity.
The Mining Production Index (IPMin) increased 4.7% compared to the same month of the previous year as a consequence of the greater activity registered in two of the three types of mining that comprise it,” explained the INE.
Chile, which accounts for 28% of copper production, is the world’s main producer, and giants such as BHP, Anglo American, Codelco and Antofagasta Minerals, but also numerous small and medium-sized companies, operate in its territory.
The Electricity, Gas and Water Production Index (IPEGA) decreased 0.8% in twelve months, due to the lower activity registered in gas, which decreased 19%, the organization said.
Chile recovered faster than expected after the pandemic, with a historic GDP increase of 11.7% in 2021, but in 2022 it began to slow down and closed with 2.4% growth.
With inflation contained, which closed 2023 at 3.9%, Chile’s great challenge for this year is to return to the path of growth, after avoiding contraction and closing 2023 with an increase of 0.2%.
For now, projections from the Central Bank and various international organizations estimate that the Chilean economy will grow again at around 2% in 2024.
At the beginning of the month, the Government created the so-called “Economic Growth Cabinet”, made up of several ministers and whose objective is to promote and accelerate different investment projects, both public and private, and to encourage key sectors such as mining and construction. EFECOM
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