January 20, 2021

Industrial exports fall 6.9% in Chile in 2019, the worst figure in decades



Chile’s industrial exports fell 6.9% in 2019, which is the worst data since they have records, and their price fell by 1.7%, mainly due to the appreciation of the dollar, the employer said on Friday .

The poor performance in the pulp, paper and cardboard sector accounts for 58% of the annual drop in the index of industrial exports, which in December fell by 12.6% compared to the same period of the previous year, said the Company of Factory Development (SOFOFA).

Together with cellulose, paper and cardboard, the metals, wood and cork industries were the worst data in 2019, when prices of exports in dollars fell 1.7% compared to the previous year.

The employer, which brings together more than half of the companies that make up the Chilean stock market index, explained that the fall in prices – more acute in the food sector – is due to “the significant appreciation of the dollar globally, especially regarding the yuan. “

“The 2019 industrial export report confirms the low performance observed from the second quarter of the year,” said SOFOFA, who recalled that the document does not reflect the effects on the national industrial production of the health crisis unleashed by the coronavirus in China , the main commercial ally of Chile.

The coronavirus epidemic continues to ravage China, where infected people total 70,548 people and 1,770 dead, according to the latest official data.

The epidemic has affected various sectors of the country’s economy, from car factories to mobile phones, which have seen their supply chains disrupted and activity in large cities is practically paralyzed, with commercial premises closed and people locked in their homes to avoid contagion.

The health crisis, the Chilean employer warned, “could negatively affect shipments of salmon and wines, both products of high relative importance in the indicator.”

“The performance of 2020 will be marked by the evolution of this health crisis and its possible spread to other countries, as well as the outcome of the negotiations between China and the US,” he added.

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