Key View

• We are making a slight downward adjustment to Chile's 2020 copper mine production forecast from a 0.5% y-o-y contraction to a 1.3% contraction to reflect additional expected slowdowns in output over the fourth quarter.
• We are also revising downward our 2021 copper mine production forecast from 3.9% growth to 2.3% as weaker output

Key View

• The Covid-19 pandemic will continue to impact the Chilean economy, with a slow recovery expected for household spending, weighed down by a high unemployment rate over the forecast period (2020-2024).
• We note that household spending was already coming under pressure in 2019, due to the global economic slowdown and a wave of anti

Key View

• The impact of Covid-19 in Chile will lead to low single-digit growth in 2020 and 2021 before rapid growth in 2022.
• Consumables will grow quicker than previously forecast, and all other product segments will experience slower growth.
• Exports will continue to be the most negatively affected in short term.

Chile’s medical device

Key View

• Chile’s pharmaceutical market will continue to experience modest growth.
• Chile’s pharmaceutical trade deficit to further widen.
• Chile’s economic environment continues to suffer due to Covid-19.

Chile’s pharmaceutical market will continue to experience modest growth. The country’s pharmaceutical market is dominated by prescription

Key View

• The new economic recovery plan announced by Chile’s government will see an uptick in public spending on construction projects over the coming quarters while also supporting private investment.
• The Plan Paso a Paso Chile se Recupera will support the recovery of Chile’s construction industry from H2 2020 through to 2022, following a

Key View

• The presentation of four bids for a hospital PPP project in Chile strengthens the likelihood that the project will be realised, particularly given the involvement of a number of major international infrastructure developers in the tender.
• The tender response bodes well more broadly for the Pinera government’s efforts to greatly

Key View

• Barriers to the introduction and commercialisation of 5G services in Chile are rapidly being removed, in a series of actions being undertaken by industry regulators.
• Initiatives such as the release of 3.5GHz spectrum for mobile communications use, the reallocation of excess spectrum held by certain operators and the creation of a

Key View

• Chile has one of the highest Covid-19 prevalence in Latin America.
• Austerity measures in place will hinder healthcare available to the public.
• High testing capacity will help reduce the spread of the virus.

The Covid-19 pandemic will continue to highlight the gaps in Chile’s healthcare system. According to a Covid-19 situation

Key View

• We see an increasing demand for and the investment in convenience strategies within the mass grocery retail (MGR) segment in Chile, with players in the sector increasing their convenience store format footprint but also their online grocery retail offerings.
• The main drivers of demand for greater convenience by Chilean consumers

Key View: Due to the Covid-19 pandemic, we have revised down our 2020 consumer spending outlook for Chile. We are now forecasting real household spending to contract by -2.1% in 2020, from our pre-Covid-19 forecast for 2020 of 2.1% growth y-o-y. At the time of writing (May 7), Chile has recorded 23,038 confirmed cases of Covid-19 and 281 deaths