The value added of coke and refined petroleum products in Chile showed significant volatility from 2013 to 2023, with notable peaks in 2015 and substantial declines in the subsequent years. The highest point was reached in 2015 with a value of 654.25 billion Chilean Pesos, followed by a pronounced decline in 2016 and 2017. The period from 2018 to 2023 marked a stabilization phase with modest year-on-year growth rates. As of 2023, the value stood at 309.99 billion Chilean Pesos. Recent years have shown slight but consistent growth with year-on-year variations of 1.32% in 2023.
The compound annual growth rate (CAGR) has reduced over the last five years, projecting a more stable yet conservative growth trajectory into the future. The 5-year forecasted CAGR is 0.94%, indicating a cautious optimism about the sector's growth potential. Future trends to watch for include potential impacts from global oil price fluctuations, regulatory changes, and shifts in demand related to environmental and sustainability initiatives. The sector’s performance will also be influenced by advancements in alternative energy solutions and technological innovations within the industry.
