minerals

The Chilean-Indonesian Chamber of Commerce and Culture has been closely monitoring the economic developments in Chile. Several key sectors have shown promising growth and potential, which we believe are noteworthy.

OCDE's Economic Forecast

Adolfo Rodríguez-Vargas, the chief economist for Chile at the Organisation for Economic Cooperation and Development (OECD), has expressed confidence in Chile's export strength. The OECD has adjusted its projections for the Chilean economy, estimating a 2.4% expansion of the Gross Domestic Product (GDP) this year. However, it has also revised its forecasts for 2025 down from 2.5% in May to 2.3%. The changes for this year are due to an upward revision of the expansion of exports and a decrease in imports, while the recomposition of domestic demand would contribute slightly less to activity.

Chile's Third Industry: Aquaculture and Agriculture

The II Symposium "Sciences and Footprints of Agriculture", organized by the Doctorate in Agricultural Sciences of the Catholic University of Chile (UC) with the support of Salmones Antártica, highlighted the potential of creating a third industry in Chile combining aquaculture and agriculture. This initiative is backed by the Technological Program for the Local Production of Nutritional Inputs for Aquaculture (PTEC-INVA), a public-private and academic initiative promoted by the Corporation for the Promotion of Production (Corfo).

Geopolitics, Environmental Regulations, and Mineral Exports

Geopolitics and environmental regulations could potentially impact the exports of minerals from the region. Tanvi Sharma, Senior Research Analyst - Bulk Research, Drewry, highlighted this during the "Shipping Seminar 2024". The market behavior of various commodities relevant to our region, including iron ore and coal, is determined by a complex interplay of causes and effects.

Salmon Exports

ProChile has promising projections for the export of salmon. The Enexpro Sea Products 2024, an initiative that allowed 60 Chilean companies from Coquimbo to Punta Arenas to present themselves, was developed in Puerto Varas.

Corporate Tax Rate Reduction Proposal

The Chilean government's proposal to reduce the corporate tax rate to 25% is a bold strategy to stimulate economic growth and attract foreign direct investment (FDI). However, this measure has also sparked substantial debates about its fiscal, social, and economic impact, necessitating a balanced analysis of the benefits and risks.

Boom in Cherry Exports

There is a significant boom in the export of cherries from Chile to Asia. This surge in demand underlines the potential of Chile's agricultural exports and the opportunities it presents for foreign traders and investors.

• Adolfo Rodríguez-Vargas, economista OCDE: “Las exportaciones van a mantenerse fuertes. El asunto es cuán sólida sea la demanda externa por los minerales que vende Chile” | Diario Financiero (Df.cl)
• Acuicultura más agricultura: La gran oportunidad de crear una tercera industria en Chile - AQUA (Aqua.cl)
• ¿Cómo la geopolítica y las normativas ambientales podrían afectar a las exportaciones de minerales de la región? - MundoMaritimo (Mundomaritimo.cl)
• Las promisorias proyecciones de ProChile para las exportaciones de salmón (Salmonexpert.cl)
• Evaluación de Propuesta de Reducción de la Tasa Impositiva Corporativa al 25% en Chile | Diario El Pulso desde O'Higgins para Chile y el mundo (Diarioelpulso.cl)
• [VIDEO] Boom por las cerezas chilenas: conoce el significado detrás del furor en China por cargamentos (Soychile.cl)

The Chilean Chamber of Commerce and Culture has witnessed a significant increase in various sectors of the nation's exports, particularly in the agricultural, forestry, and aquaculture sectors, as well as in Tarapacá's mineral exports.

The agricultural sector experienced a surge of 8.8% in the first half of the year, with exports totaling US$7.053 billion, representing 31.3% of total foreign sales. This growth is driven by record exports of cherries, plums, and blueberries.

The forestry sector also showed positive performance, with exports reaching US$2.448,8 billion FOB between January and May 2024, a 3.0% increase compared to the same period last year. However, May witnessed a decrease in exports by 23.1% compared to the previous month.

The aquaculture sector continues to demonstrate its importance in the national economy, with salmon leading the exports. The peak export period is between March and September, with two companies managing 80% of the exported tonnage.

Tarapacá's exports reached US$469 million in May 2024, with significant interest shown in developing 24 lithium projects in the region's deposits and salt flats.

Kiwi exports are expected to increase by 10% compared to the previous season, with more than 65% progress in the current season and an estimated volume surpassing last year's total of 126,220 tons.

Meanwhile, in Indonesia, the first Damen CSD600 series cutter suction dredger has begun operations. Named Jhoni 58, it is currently working on a maintenance dredging project at the Port of Batulicin in Kalimantan, primarily used by numerous coal transport barges.

• Las ciruelas y los arándanos se suben al carro de exportaciones récord que lideran las cerezas | Diario Financiero (Df.cl)
• Exportaciones forestales chilenas acumulan desempeño positivo - PortalPortuario (Portalportuario.cl)
• Sector acuícola chileno: El salmón lidera ventas y demanda en Brasil y Estados Unidos - Radio Agricultura (Radioagricultura.cl)
• Exportaciones de Tarapacá alcanzaron los US$469 millones en mayo de 2024 (Radiopaulina.cl)
• Exportaciones de kiwi podrían incrementarse en un 10% en comparación con la temporada anterior - Mundoagro (Mundoagro.cl)
• Indonesia pone en operación la primera draga de la serie Damen CSD600 - PortalPortuario (Portalportuario.cl)