Chile's Economic Activity Contracts Most Since 2023

Chile’s IMACEC economic activity index fell 1.2% year-on-year in April 2026, following a 0.2% decline in the previous month and marking the sharpest contraction since March 2023. The downturn was driven by a 5.4% drop in goods-producing sectors, as mining output plunged 11.8% and industrial activity slipped 0.4%. In contrast, trade expanded 2.1%, while services activity edged up 0.8%. On a monthly basis, the IMACEC edged up 0.1%.

Chile’s IMACEC economic activity index fell 0.1% year-on-year in March 2026, following a 0.3% contraction in February. Goods production dropped 5.2% after a 3.7% decline in the previous month, weighed down by a 6.5% fall in mining and a 2.6% contraction in industrial output. In contrast, trade activity grew 5.1%, while services expanded 2.1%. On a monthly basis, the IMACEC surged 15.2%, rebounding from a 6.5% drop in February and marking the strongest monthly expansion since March 2022.

Chile's IMACEC economic activity index contracted 0.3% year-over-year in February 2026, following a 0.5% contraction in January and falling well short of forecasts for a 1.9% expansion. Goods production declined 3.7% after a 2.2% fall in January, dragged by industry at 3.6% and other goods at 5.4%. In contrast, the mining sector rose 1.0%, rebounding from a 1.1% contraction. Services activities expanded 1.6%, accelerating from a 1.1% gain in the prior month. Trade activity also rose 0.2%, rebounding from a 0.9% decline. On a monthly basis, the IMACEC fell 6.5%, following a 13.6% plunge in January.