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Economy & Business - October-November 2012 (ISSN 1741-7430)
CHILE: Weak energy sector threatens to hold Chile back
The Chilean economy has shown that it is incredibly resilient, posting better-than-expected economic growth in the past couple of years (of 6% year-on-year on average) in spite of a major earthquake and tsunami in 2010 and wildfires in 2011/2012 which, coupled with the widespread social unrest that afflicted Chile last year, would have severely hindered most economies. Yet Chile has been humming along, on the back of a dynamic domestic market and a stable business environment. However, there are continuing concerns about the challenge posed by Chile’s chronically low levels of domestic energy production.
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