Chile's GDP grows in first quarter of 2024

Chile's central bank said gross domestic product (GDP) grew by 2.3 per cent in the first quarter of 2024. This is reported by Cronica Digital, a partner of TV BRICS.

According to the institution, domestic demand increased by two percentage points due to improved investment performance.

Mining, electricity, gas, water and transport, as well as agricultural and forestry activities, which grew by 1.1 points, were particularly influential in the performance.

Other sectors saw increases in cattle, eggs and milk production.

Mining was mainly driven by the start-up of a new copper concentrator and, to a lesser extent, mining of non-metallic minerals such as lithium carbonate.

This is the best quarterly result for Chilean GDP since the second quarter of 2022, when the economy grew by 4.4 per cent thanks to the rebound effect following the constraints caused by the Covid-19 pandemic.