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Industrial production and trade grow during February in Chile
Thursday, March 28, 2024 - 14:15
crédito foto Xinhua

Industrial production saw an increase of 7.9%, while commerce saw an increase in activity of around 1.9%.

Good news for commerce and industry. The National Institute of Statistics (INE) reported that both the Industrial Production Index (IPI) and the Trade Activity Index (IAC) at constant prices had twelve-month increases.

In the case of the IPI, an increase of 7.9% was seen in February, thanks to the increase in the three sectors that make it up, with the Manufacturing Production Index (IPMan) being the one that showed the greatest increase (8.8%). .

This was influenced by the 36.2% year-on-year increase in the manufacturing of paper and paper products, affecting 3,121 pp. in the general variation.

Regarding the Mining Production Index (IPMin), it showed a growth of 7.7%, thanks to greater activity in the three types of mining that comprise it (Metallic Mining, Non-metallic Mining and Energy Resources).

Finally, the Electricity, Gas and Water Production Index (IPEGA) had a positive variation of 5.9%, due to the greater activity registered in electricity (7.4%), which had an impact of 5.463 pp. in the index.


In the case of the Trade Activity Index (IAC) at constant prices, it had an increase of 1.9% in February, thanks to two of the three divisions that make it up, which had increases.

Retail trade, except for motor vehicles and motorcycles, was the division that had the most impact on the interannual variation of the index, recording an increase of 4.3% and contributing 2,037 points, mainly due to the contribution of retail sales. by mail and online.

Wholesale trade, except for motor vehicles and motorcycles, grew by 0.5% in twelve months, having an impact of 0.216 pp., while wholesale and retail trade and repair of motor vehicles and motorcycles fell by 4.0 %, subtracting 0.393 pp. to the IAC, given the lower sales of vehicles.

In the case of supermarkets, sales increased by 0.9%. The seasonally adjusted series corrected for calendar effect had an expansion of 0.1% compared to the previous month and an interannual decrease of 2.1%.

Finally, the Retail Electricity Trade Index (ICEM) at current prices grew 3.9% year-on-year, thanks mainly to the rise in technological products, for home equipment and technology.

"The sectoral figures for February lead us to forecast an increase of 4% year-on-year for the Imacec for the month, consistent with a 2% advance in the seasonally adjusted monthly level.
Commerce, indicated César Guzmán, macroeconomics manager at Inversiones Security.

"In short, economic activity began the year with a very good performance, better than expected. The fact that it is a leap year exacerbates the February figures, in line with what was recently indicated by the
Central bank. Going forward, the economy should continue with a recovery, hand in hand with local financial conditions that have become more favorable, and would continue to do so with new declines in the MPR, and
a greater external impulse due to the improvement in the terms of trade," the analyst concluded.