In annual terms, the growth was explained by the contributions of EGA (Electricity, Gas and Water), personal services and transportation activities.
Today, Tuesday, the Central Bank of Chile reported that in 2023 the Gross Domestic Product (GDP) grew in eleven of the country's sixteen regions, registering an increase of 0.2% for the national total.
In the case of household consumption, a drop of 5.2% was observed, a result that was negative in all regions of Chile.
This, according to the preliminary information from the National Accounts.
Considering the decomposition by macrozones, the annual results were explained by all zones, highlighting the North and South Center as those with the greatest contribution.
Meanwhile, in the fourth quarter, the Northern zone and the Metropolitan region stood out as the main positive incidents.
“In contrast, all geographical areas presented decreasing negative incidences throughout the year for household consumption. The Metropolitan region was the one that had the most impact on the negative results of all quarters of the year,” said the Central Bank.
In annual terms, the growth was explained by the contributions of EGA (Electricity, Gas and Water), personal services and transportation activities, which presented positive impacts in most regions. The previous results were partly offset by trade, which presented negative contributions throughout the country.
“The fall in household consumption, for its part, was explained mainly by spending on non-durable goods, followed by durable goods. Both components had a negative impact in all regions, while consumption of services presented mixed results,” the Bank said.
Northern Macrozone
The Arica and Parinacota region fell 2.4%, a result that was influenced by the manufacturing industry, fishing and mining. In contrast, construction and personal services grew.
Household consumption decreased 4%, mainly affected by spending on non-durable goods, followed by durable goods.
The 3.3% growth recorded in the Tarapacá region was explained, to a greater extent, “by the results of construction and mining, which were partly offset by the falls in the manufacturing industry and fishing. The decrease in household consumption of 4.2% was explained by lower spending on non-durable goods.”
The Antofagasta region - added the Central Bank - presented a growth of 2.3%, mainly affected by EGA, business services and construction. For its part, household consumption fell 3.9% explained by consumption of non-durable goods, which was partially offset by consumption of services.
The Atacama region grew 2.1%, as a result of the performance of EGA and mining, which were partially offset by construction. Household consumption, meanwhile, registered a drop of 6.9% affected by all its components, highlighting the lower spending on non-durable goods.
Central Macrozone
The Coquimbo region recorded a growth of 3.5%, explained mainly by the performance of mining, followed by personal services and the manufacturing industry.
Commerce and construction offset previous results. The 5.8% drop in household consumption was explained by lower spending on non-durable and durable goods.
“The Valparaíso region registered a variation of 0.1%, where the growth of the manufacturing industry and personal services were offset by transportation. Household consumption, for its part, presented a drop of 6.2%, in line with lower spending on non-durable and durable goods,” the report stated.
Metropolitan region
The 0.2% variation registered in the Metropolitan region was explained by the growth of transportation and personal services, which were offset by the performance of commerce and mining.
The 5.8% drop in household consumption was due to lower spending on non-durable and durable goods.
South Central Macrozone
The 2% drop in the Libertador General Bernardo O'Higgins region was the result of mining performance, which was partially offset by decreases in EGA and personal services.
Household consumption registered a drop of 6.3% affected by consumption of non-durable and durable goods.
The Maule region presented an increase of 0.8% explained by the results of EGA and personal services, which were partly offset by construction, transportation and the agricultural-forestry sector. Household consumption fell 7.6% due to lower spending on non-durable goods.
The Ñuble region registered a decrease of 0.3%, explained by the manufacturing industry, which was offset by the increase in personal services and construction.
Both spending on non-durable and durable goods influenced the 6.3% drop in household consumption, a result that was partially offset by greater consumption of services.
The positive results of the manufacturing industry, EGA and fishing contributed to the 5.9% growth of the Bío Bío region. Meanwhile, commerce and construction presented negative incidents.
Household consumption, for its part, decreased 5.9% in line with lower spending on both components of consumption of goods.
Southern Macrozone
The Araucanía region grew 0.9%, mainly affected by personal services, which was compensated by the lower performance of commerce. Household consumption registered a drop of 6.9%, mainly explained by lower spending on non-durable goods.
The 0.6% drop recorded in the Los Ríos region was mainly explained by the manufacturing industry, which was partly offset by personal services. Household consumption decreased 6.3%, due to lower consumption of non-durable goods and partially offset by the consumption of services.
The Lakes region grew 2.1% influenced by the results of fishing and the manufacturing industry, which were partly offset by trade. The 5.8% decrease in household consumption was explained by lower spending on non-durable and durable goods.
Southern Macrozone
The results of fishing and the manufacturing industry explained the 3.8% increase in the Aysén region, which was partially offset by mining. Meanwhile, lower spending on non-durable goods was the main contribution to the 4.1% drop in household consumption.
Finally, the Magallanes region fell 1.4% affected by the results of fishing and the manufacturing industry. Household consumption decreased 4.4% explained by lower spending on non-durable goods, which was partly offset by higher consumption of services.
