Forecast: Import of Mineral Fuels, Oils and Distillation Products to Chile

Between 2013 and 2023, the import of mineral fuels, oils, and distillation products to Chile experienced significant fluctuations. The values dropped substantially between 2013 and 2016, reaching a low in 2016. This was followed by a recovery period from 2017 to 2018. However, imports declined again in 2019 and 2020, and partially rebounded in 2021. The years 2022 and 2023 showed minimal increases. As of 2023, the import value stood at 11.495 billion USD.

Year-on-year variations in recent years exhibit significant volatility, with sharp declines mid-decade and some recovery towards the end, showing a general trend of stabilization. The last two years indicated minor positive changes of around 0.34%. The compound annual growth rate (CAGR) over the last five years was a slight decline at -1.34%.

Looking ahead, the forecasted data from 2024 to 2028 indicates a gradual increase in import values, reaching up to 11.7 billion USD by 2028, with a forecasted five-year CAGR of 0.28%. Overall, the growth rate projected over the next five years is 1.4%.

Future trends to watch for include geopolitical stability affecting global mineral fuel prices, advancements in alternative energy sources within Chile, and global economic factors influencing trade and import capacities.