The Chilean ambassador to China, Luis Schmidt, reported that Chilean copper exports have not shown any inconvenience in their entry to ports, according to their conversations with shipping and importing companies. However, he pointed out that port activity is slower after an extended weekend and food income is being given priority, so that shipments of cherry and other Chilean fruits are not experiencing major difficulties either.
Foreign direct investment (FDI) in Chile in 2019 was up by 78%, on the previous year, at $10.797 billion. This was its second consecutive year of growth, after a 4% increase in 2018 ($6.1 b), and the total for the year was close to the annual average for 2015-2019 ($11.2 b). According to figures published this morning by the Central Bank of Chile, net FDI in December reached $181 million.
Experts consulted by Chile's Central Bank project a growth of 1.2% of GDP in 2020 and 2.2% in 2021. The Monthly Economic Activity Indicator (Imec) of January foresees an advance of 1%. Accumulated inflation in 2020 is estimated at 3.2%. The interest rate will remain frozen at 1.75%. The exchange rate will average CL$780 over the next two months and fall to CL$758 in 11 months.
China accounted for 32% of Chilean exports in 2019, while imports from the Asian country were 24%, according to the latest report of the Undersecretariat of International Economic Relations (Subrei). China received 47% of Chilean mining exports, 31% of the agricultural sector and 48% of processed foods.