Chile: Economic Outlook for Chilean Agriculture
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In 2024, political uncertainty will continue to diminish, and GDP will grow between 1.25 and 2.25 percent due to a recovery in consumption. This will bring opportunities for U.S. exporters looking to ship products to Chile. Agricultural GDP grew firmly in the past three years, reaching $28.9 billion in 2023. One of the most relevant challenges for Chilean agricultural is drought. Drought is particularly severe in the Atacama and the Coquimbo regions, where planted area is decreasing sharply and producers have few alternatives to table grapes. Systems approach access to the United States would help producers regain competitiveness. In 2023, Chile signed an advanced framework agreement with the EU which will bring benefits to trade but also restrictions to U.S. exporters of parmesan, feta, and gruyere cheese. Post will continue to monitor new developments.
