The machinery, equipment, and supplies sector in Chile saw variable growth over the past decade. In 2023, the sector stood at 4.2386 trillion Chilean pesos, marking a small year-on-year increase of 0.61%. Historically, the sector experienced fluctuations with notable growth in 2014 and 2018 and contractions in 2016 and 2020. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 was 0.25%, reflecting modest growth. Looking forward, from 2024 to 2028, the sector is forecasted to grow steadily, with a five-year CAGR forecasted at 0.51% and an overall growth of 2.55% by 2028.
Future trends to watch for:
- Technological advancements in machinery and equipment.
- Investment in sustainable and green technologies.
- Global supply chain dynamics impacting production costs.
- Government policies and economic stability influencing sector growth.
