The Andean nation, among the region´s most dependent on mining and agricultural exports, saw the value of its shipments abroad plummet by nearly 9% in the first quarter alone, according to Customs´s data released in early April.
While Chile´s all-important mining sector has escaped the worst of both the protests and the coronavirus thus far, the value of top exports fruit, vegetables, salmon and forest products plunged in the first quarter, Customs data shows. Services and tourism have also tumbled. The country has confirmed more than 8,000 cases of coronavirus since the outbreak hit six weeks ago, among the highest tallies in Latin America.
Chile´s central bank, which already had an outlook for tepid growth of 0.5% to 1.5% in 2020, slashed its forecast. It is now calling for the economy to contract from 1.5% to 2.5% in 2020.