38% of SMEs believe it is “probable” that they could close their business

A survey carried out by Libertad y Desarrollo revealed that 38% of SMEs believe that it is "probable" that they should close their business in the coming weeks, in the context of the economic crisis due to COVID-19. The survey also maintains that smaller companies project that the effect of the pandemic on their sales will be similar to that of the social crisis of October 18th.

Chile mining trade group sees copper supply glut of 200,000 tonnes in 2020

The copper market will see a supply glut of 200,000 tonnes this year as the economic impact of coronavirus hits global demand for the metal, a Chilean industry group told Reuters. Diego Hernandez, president of Sonami, an association of mining companies with operations in top producer Chile, said both supply and demand would drop as the global economy falters. “With the information we have today, we expect a 3.5 to 4% decrease in demand,” Hernández told Reuters by email.

Study shows Latam contributes $33 billion to South America’s GDP

Latam's economic contribution to South America's GDP reaches $33.2 billion, according to a study by Oxford Economics commissioned by the airline. Latam has been hit hard by the Covid-19 crisis, which has led it to ask the government for help. In Chile, the airline contributes $6.2 billion to GDP. The analysis estimated that Latam generates a total tax revenue of $600 million in Chile and that its operations contribute $2.5 billion to national labor income.