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Sabrina Souviron Gumucio

Empresas Copec decreases its profits by 97.1% during first quarter

Empresas Copec reported a sharp drop during its first quarter. According to the company’s financial statements, profits in the first tranche went from US $221 million in 2019 to US $6 million, representing a decrease of 97.1%. The company explained that a decrease in profits is mainly due to a drop in the operating result of approximately US $134 million, which went from US $309 million in the first quarter of 2019 to US $175 million in 2020.

Chile’s GDP rises 0.4% in the first quarter

Chile’s GDP rose 0.4% year-on-year in the first quarter. Domestic demand fell by 2.6% in the first three months of the year, while the mining sector of the world’s largest copper producer rose by 5.1%. The Central Bank predicts that the Chilean economy will shrink between 1.5 and 2.5% this year due to the pandemic, while the government estimates a fall of 2%.

Chile’s blueberry exports decrease by 2%

For the first time, Chilean blueberry exports have not increased. In the 2019/20 season, exports of blueberries from Chile have slightly decreased since last season. In total, 133,650 tons were exported, which is 2% less than the 2018/2019 season’s 137,100 tons. The reason for this is because last season the North American market imported more blueberries from Peru than Chile.

Chile to begin exporting citrus fruits to China

In what will prove to be a boost to Chile’s citrus producers, China’s general administration of customs (GAC) has issued the protocol on phytosanitary requirements for Chilean fresh citrus exports to China. An export agreement between the two countries was signed in December 2019, and according to China’s customs service, the first consignment has been approved for export.

CBC projects a 12% decline for 2020, reaching $16.89 bn

According to the latest report by the Capital Goods Corporation (CBC), a deepening of the decline in public and private investments is projected for this year, but are optimistic for an increase in 2021. In relation to this year, the report indicates that private and public investment will reach $16.89 billion, a figure that represents a decrease of 12% compared to 2019.