Chile’s GDP registered 1 % growth in the second quarter of 2021
Despite the second wave of Covid-19, the South American country presented a slight growth in its economic activity compared to the same period of 2020
The second wave of the Covid-19 pandemic has left a deep mark in Chile. However, according to data provided by the Central Bank recently, during the second quarter of the year the country’s Gross Domestic Product (GDP) showed a slight growth of 1 %.
Seasonal data shows the activation of commercial activity and key sectors in Chile such as mining. One of the main factors that has driven this growth dynamic was the increase in domestic demand between the months of March and June of this year.
According to the reports, domestic demand was 31.7 % year-on-year and 1.6 % compared to the first quarter, “mainly due to household consumption, driven by economic support measures and the withdrawal of pension funds.”
Additionally, mining showed a year-on-year growth of 2.8 % and copper activity showed positive signs supported by the opening of a new processing plant and better laws that regulate the activity.
Regarding the GDP growth projections for this year, in June the Central Bank of Chile indicated that they could be between 8.5 and 9.5 %, an estimate that coincides with that estimated by the Economic Commission for Latin America and the Caribbean (ECLAC), located at 8 %.
M.Pino
With information from national and international media
