Chile’s economic activity decreases by 12.4%

Chile’s economic activity fell 12.4% in June compared to a year ago, according to the central bank, contracting less than expected at the peak of the COVID-19 pandemic. The bank’s IMACEC economic activity index encompasses about 90% of the economy tallied in gross domestic product figures. Market-watchers, polled by Reuters, had expected a more severe decline of 14.5%. However finance minister, Ignacio Briones, said "It is a smaller decrease than the market expected, but it is still a substantial drop, which will make this second quarter the worst in a long time, with a drop in economic activity of around 14%."

Chinese companies expand in Brazil’s, Chile’s and Peru’s electric sector

A strategically important sector for economic and social development, electricity transmission and distribution in Latin America has been revolutionised by the arrival of Chinese state-owned conglomerates State Grid and Three Gorges in Chile, Peru and by their ongoing expansion in Brazil. Chile and Peru have signed Free Trade Agreements (FTA) with China and have officially committed to participate in the Belt and Road Initiative by signing memoranda of understanding under its banner.

Salmones Austral loses $5.1 million worth of salmon to ISA outbreak

Salmon worth around $5.1 million will have to be cleared from Salmones Austral's joint venture production site following a recent infectious salmon anemia (ISA) outbreak, the company told Chile's stock market regulator. Two cages were cleared of salmon worth and estimated $700,000 last month at the Navarro 3 site bordering the Magallanes and Antarctic regions of Chile. However, the company will now have to remove nearly 1.2 million fish with an average weight of 490.8 grams valued above $5 million from the remaining 14 cages at the site before any new production cycle can take place.

Blueberry exports to Chile now open for California, Oregon & Washington

USDA Trade Director for the Animal and Plant Health Inspection Service (APHIS) Plant Protection and Quarantine Division, Barbara Spangler, notified the North American Blueberry Council (NABC) that blueberries from California, Oregon and Washington can be shipped to Chile with an import permit. Spangler also confirmed that Chile is opening its market to blueberries on a case-by-case basis.