Key View

• We at Fitch Solutions expect that leftist Chilean President Gabriel Boric’s waning popularity and opposition in congress will undermine his efforts to pass reforms that would alter the country’s business-friendly policy environment.
• As a result, we expect Boric will shift his focus to advocating for the passage of the new

Key View

• At Fitch Solutions, we have revised down our 2023 copper production growth forecast for Chile from 3.4% y-o-y to 2.8% y-o-y.
• In 2023, we expect to see slower copper production growth in Chile, the world's largest copper producer, due to declining ore grades and droughts. To avoid long term growth contractions, leading copper miners

Key View

• We forecast real household spending in Chile to contract by -1.7% y-o-y over 2023, a deceleration from positive growth posted in 2022 of 3.9% y-o-y.
• In 2023, we expect that private consumption will weaken further as inflation remains elevated, and the Banco Central de Chile keeps its policy rate high over Q123. In particular, food

Key View

• Chile’s medical device market will be limited by an economic contraction and political instability in the short term.
• Efforts to recover the market from Covid-19 will prioritise reducing oncology waiting times in the short term.
• Improvements to health infrastructure will support the long-term growth of the country’s medical devices

Key View

• At Fitch Solutions, we maintain our view that the Chilean economy will decelerate through 2023 as still-high inflation limits private consumption, while elevated interest rates and ongoing political uncertainty drag on investment.
• We forecast that real GDP growth in Chile will reach 1.9% in 2022 before slowing to -0.8% in 2023. Our

Key View

• At Fitch Solutions, we forecast that the current account deficit in Chile will narrow to 5.2% of GDP in 2022, from 6.7% in 2021, as slowing economic activity domestically limits import growth.

• We expect import demand will slow more rapidly than export growth, which will also lag as decelerating growth in key export markets

Key View

• After the Banco Central de Chile hiked its benchmark policy rate by 75 basis points (bps) at its June 8 meeting, to 9.00%, we at Fitch Solutions expect that the central bank will continue its tightening cycle, bring the rate to 10.00% in order to counteract rising prices.

• However, this is down from our previous forecast of 10

Key View

• This quarter, we have revised our growth forecast for Chile’s construction industry, which we expect will grow by 0.4% y-o-y in 2022 and by 2.7% y-o-y in 2023, down from our previous forecast of growth of 3.2% and 3.1% respectively. This will follow growth of13.6% y-o-y in 2021 in real terms, marking a sharp rebound following a

Key View

• Rail infrastructure development will be a leading focus of construction activity in Chile over the coming years, particularly urban rail projects such as metro and commuter rail lines.
• We hold a positive outlook for the advance of planned rail projects, supported by Chile’s strong and recent precedent for rail project development and

Key View:

• At Fitch Solutions, we believe that Chilean retailer Cencosud will further solidify its position as a major e-Commerce player in Chile. The company announced that from February 7 2022 a new same-day delivery service, “Recibe Hoy” (Receive Today), will be available for its department store, Paris.
• The company will extend its coverage