Chile Q1 GDP Growth Slightly Beats Forecasts

Chile’s economy expanded by 2.3% year-on-year in the first quarter of 2025, easing from a 4% increase in the previous quarter but slightly above market expectations of a 2% rise.

Growth was observed in manufacturing (5.2%), agriculture and forestry (5.2%), and especially in fishing, which saw a surge of 29%.

The services sector also contributed positively to the overall expansion.

In contrast, the mining sector contracted by 1%, a sharp reversal from the 7.3% growth recorded in Q4 2024.

Meanwhile, domestic demand slowed to 1.2% from 4.3% in the prior quarter, weighed down by a decline in household consumption (1.8% vs 2%) and investment (1.4% vs 3.3%).

However, public spending rebounded by 3.1%, recovering from a 1.8% contraction.

External trade supported growth, with exports rising from 9.2% to 10.7%, while imports declined from 10.2% to 9%.

On a seasonally adjusted quarterly basis, the economy contracted by 5.5%, following a 9.4% gain in the fourth quarter of 2024.