industry

The Indonesian-Chilean Chamber of Commerce and Culture presents a summary of the week's economic developments, highlighting the fluctuations in exports, growth in key markets, and the potential for increased cooperation between Indonesia and Chile.

In the Arica and Parinacota region, the total exports registered in June 2024 amounted to $23.8 million, representing a negative variation of 15.4% compared to the same period of the previous year, according to the National Institute of Statistics. The sectors with the most significant participation were Industry, representing 73.9% with an interannual contraction of 25.5%, and Mining, which reached 23.0% of the total exported, with a twelve-month growth of 27.0%.

On a brighter note, the Valparaíso region witnessed an interannual variation of 31.8% in its exports in June 2024, totaling $490.3 million. The Mining sector led the way with a 67.2% participation, followed by the Industry sector with a 25.3% participation, primarily due to declines in Oil Refinery and Derivative Products activities.

Chilean exports grew by 1.4% in the first semester of 2024, with fruits and wines standing out in key markets such as the United States, Europe, and Brazil. This growth reflects the dynamism of shipments to the main international markets, emphasizing the need to reinforce service exports, expand the product portfolio, and pay special attention to items such as lithium, grapes, and wines.

However, a decline in salmon production negatively impacted exports, with a negative variation of 22.5% compared to the same month of the previous year. Despite the increase in shipments of meat, wool, hake, king crab, and sea urchins, the regional salmon farming industry experienced a significant downturn.

In Indonesia, PT Pupuk Indonesia (Persero) is increasing its contribution to societal welfare through the agricultural sector. The company implemented the Tajumase (Tani Maju Makmur Sejahtera) program in two villages, including Hadakewa Vowong in Lembata Regency, East Nusa Tenggara (NTT).

Finally, Indonesia, the fastest-growing economy in Southeast Asia, is inviting Chilean companies to invest and diversify their businesses with high-quality products and services at competitive prices.

• Arica y Parinacota: Exportaciones decrecen 15,4% en doce meses - PortalPortuario (Portalportuario.cl)
• Exportaciones de la Región de Valparaíso presentan variación interanual de 31,8% en junio de 2024 - PortalPortuario (Portalportuario.cl)
• Agregados comerciales de Chile trazan su camino tras un semestre con cuentas a favor » DUPLOS.CL (Duplos.cl)
• Cómo los fertilizantes indonesios maximizan el potencial agrícola en las zonas costeras de NTT - Natura Hoy (Naturahoy.com)
• Baja en la producción de salmones fue el principal factor que jugó en contra de las exportaciones | La Prensa Austral (Laprensaaustral.cl)
• Indonesia invita a empresas en Chile (Elproa.cl)

The Indonesia Chile Chamber of Commerce and Culture is closely monitoring the recent economic and social developments in both countries. Here are the major headlines for the week:

According to the National Institute of Statistics (INE), the Maule Region experienced a contraction of 16.1% in exports in October 2023, reaching a total of USD 180.3 million. The industrial sector remains the region's major exporter, with food being the most significant segment within this sector.

An unfortunate accident occurred at a nickel plant in Indonesia, claiming at least 13 lives. A flammable liquid caught fire during boiler repair works causing a deflagration that led to the explosion of nearby oxygen tanks. Our thoughts are with the victims and their families.

In positive news for Chilean exports, the country's fruit has been gaining popularity in the Chinese market. The Frutas de Chile brand is making strides in the market, particularly with peaches and apricots. This development strengthens Chile's position as one of the few countries whose entire fruit basket is approved for entry into China.

Global wine consumption has taken a hit, leading countries like Chile to abandon vineyards. Some, like Viña Santa Rita, are even considering complete removal of their vineyards.

Contrasting the situation in the Maule Region, the Tarapacá Region saw a 42% increase in export value in October 2023, reaching USD 524.7 million. However, the accumulated variation showed a 2.7% decrease compared to the same period last year.

Despite the recent change in Argentina's government, Chile's trade relations with its neighbor remain steady. The two countries share a high degree of complementarity in their economies, and their trade relations are governed by two international treaties that are not easily violated.

• Región del Maule: Exportaciones se contraen 16,1% en octubre de 2023 - PortalPortuario (Portalportuario.cl)
• Indonesia: al menos 13 muertos en una explosión en una planta de níquel (Telam.com.ar)
• "Chile es uno de los pocos países donde toda su fruta está aprobada para el ingreso a China" (Elmaucho.cl)
• Chile abandona viñedos ante caída de ventas (Eldemocrata.cl)
• Región de Tarapacá: Valor de exportaciones crece 42% en octubre de 2023 - PortalPortuario (Portalportuario.cl)
• El comercio de Chile con Argentina luego del triunfo de Milei (Elmostrador.cl)