News

Economic overview of the Chilean agricultural sector

Chile
Market & Price Trends
Innovation & Technology
Published Feb 27, 2024

Tridge summary

Chile's agricultural sector is expected to grow by 1.25 to 2.25 percent in 2024, despite economic stagnation in 2023 and challenges such as drought, political uncertainty, and changing trade dynamics. Producers are investing in water-efficient technologies and diversifying crops to combat drought, particularly in regions like Atacama and Coquimbo. The recent EU-Chile Advanced Framework Agreement has expanded market access for Chilean products in Europe, but also imposed restrictions on certain US exports. The sector can leverage technological innovation, sustainable practices, and strategic partnerships to ensure its long-term viability. Additionally, the use of Agronometrics, a data visualization tool, can help industry professionals make informed decisions by tracking daily market prices for imported fruit.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

In this installment of the "Agronometrics in Charts" series, Sarah Ilyas reviews the economic state of the Chilean agricultural sector. Each week, the series looks at a different horticultural product, focusing on a specific origin or theme and visualizing the market factors driving change. The Chilean agricultural sector is at a crossroads in 2024, facing both challenges and opportunities. According to the Economic Outlook for Chilean Agriculture report published by the USDA, the sector has experienced notable growth in recent years, contributing significantly to the country's GDP. However, persistent problems such as drought, political uncertainty and changing trade dynamics present formidable obstacles to sustainable growth. Despite a period of economic stagnation in 2023, Chile's agricultural sector has remained resilient, with steady GDP growth. The USDA report indicates that the country's agricultural GDP reached $28.9 billion in 2023. Projected GDP growth of 1.25 to 2.25 ...
Source: MXfruit
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