The production of coke and refined petroleum products in Chile has seen significant fluctuations over the past decade, characterized by both steep declines and moderate recoveries. Starting at 4.2753 trillion Chilean Pesos in 2013, the trend initially showed growth up until 2014, followed by a sharp decline in 2015 and 2016. The sector experienced some recovery in subsequent years, peaking at various points but never returning to 2013 levels. In 2023, the production stood at 3.4651 trillion Chilean Pesos, marking a slight decrease compared to the previous year. The average annual growth rate over the last five years (CAGR) was approximately -2.18%.
Key Trends:
- 2013-2014: An increase of 9.6%, followed by a sharp drop in 2015 (-27.58%).
- 2016-2017: Production continued to decrease but saw a significant recovery in 2017 (+17.55%).
- 2018-2019: Moderate growth in 2018 (+15.45%) followed by a decrease in 2019 (-6.61%).
- 2020 Onwards: Notable decline in 2020 (-17.88%), with a cyclical recovery in 2021 (+13.26%) and moderate changes thereafter.
Future Trends to Watch For:
- Predicted decline in production: Expected to decrease through 2028 with a forecasted 5-year CAGR of -0.87%.
- Anticipated drop in growth rate: An approximate 4.29% decrease over the next five years.
- Volatility: Fluctuations likely due to economic factors, government policies, and global market conditions.
