The Central Bank of Chile reported that the economy contracted by 1 percent in August 2026 compared to August 2025, according to the IMACEC index, the main indicator of economic activity in the country.
The decrease mainly reflects a 17.4 percent reduction in mining, particularly in the copper production sector, which accounts for a significant share of the country's economy. According to the Central Bank, excluding mining, the IMACEC index would have increased by 1.4 percent year-on-year.
Year-on-year, the production of goods fell by 4.9 percent, while manufacturing grew by 0.3 percent, trade activity increased by 2.2 percent, and services grew by 0.8 percent.
On a monthly basis, in basic terms, the IMACEC index decreased by 0.7 percent in August compared with July.
On the same basis, the production of goods decreased by 2.9 percent, mining by 10.7 percent, manufacturing grew by 1.4 percent, trade activity increased by 0.4%, and services increased by 0.6%.
The IMACEC monthly Economic Activity Index tracks changes in Chile's gross domestic product (GDP). It is released on the first business day of each month with a delay of about 31 days.
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