Chile is stepping out of its post-crisis hangover with an economy that works, but no longer dazzles.
In October, overall activity is expected to have grown a little above 2 percent versus a year earlier.
That is enough to show the patient is out of intensive care. It is not enough to feel like a boom for families or businesses.
The headline number hides a sharp split. On one side stand trade and services, crowded streets, full restaurants, and busy supermarkets.
On the other stand the big machines that once defined Chile’s success story: copper mines, pulp mills and factories. Those are still losing steam.
Industrial production fell 0.4 percent in October compared with the same month in 2024. Mining output dropped 0.8 percent.
Manufacturing also slipped 0.4 percent, hurt by weaker paper and pulp production and maintenance shutdowns.
Chile Edges Into Final Quarter With Modest Growth Led By Trade And Services
Chile Edges Into Final Quarter With Modest Growth Led By Trade And Services
Copper, the country’s emblematic export, had a rough month after earlier accidents and ongoing problems with lower ore quality.
Consumers tell a very different story. The trade activity index jumped 7.1 percent in October. Supermarkets sold more.
Electronics and household goods moved faster. A big online discount campaign, shifted fully into October, helped. Yet analysts say underlying demand looks healthier even after you strip out that effect.
Services now carry Chile on their shoulders. Seven of eight service categories grew. Hotels and restaurants posted double digit gains.
Professional, scientific and technical services also advanced strongly. In plain language, more people are traveling, eating out, and paying consultants instead of relying only on raw materials.
For expats and foreign investors, the story behind the story is about model fatigue. Chile still looks like one of Latin America’s more disciplined, rules-based economies.
At the same time, growth near 2 to 2.4 percent for 2025 will not close social gaps or lift productivity on its own.
The next chapter will depend on whether the political class can give companies clear, stable rules and space to invest again.
Without that, Chile may remain a country that survives comfortably on services, but stops surprising the world.
