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Ñuble Exports Grew 220% in August Driven by Timber and Pulp

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The "Forestry" sector, which includes timber shipments, totaled US$48.2 million, showing a growth of 2,061% compared to August 2023. Meanwhile, the "Rest of Industry" sector, with US$44.7 million, which includes pulp, recorded a year-on-year increase of 2,836%.

In August 2024, exports from the Ñuble region reached US$136.7 million, representing a growth of 220.1% compared to the same month in 2023, according to the INE.

The August shipment value is the highest of the year, confirming the recovery trend in exports observed since January 2024, following a very poor 2023 for forestry products, which means a low comparison base.

According to the report, the increased dynamism in Ñuble's exports was mainly due to the Industrial sector, highlighting the positive impact of products exported in the Forestry sector.

In August, the Industrial sector once again stood out, with US$130.6 million, showing a year-on-year increase of 224.2%. Within this sector, the "Food" branch totaled shipments of US$37.7 million, a value that grew by 3.2% in 12 months; the "Forestry" branch, which includes timber shipments, added US$48.2 million, reflecting a growth of 2,061% compared to August 2023; meanwhile, the "Rest of Industry" branch, with US$44.7 million, which includes pulp, recorded a year-on-year increase of 2,836%.

On the other hand, the Agricultural and Forestry sector totaled shipments of US$5.5 million, showing a year-on-year expansion of 247.7%. Within this sector, the agriculture branch, with shipments of US$3.5 million, grew by 396.6%, while the fruit-growing branch, which added US$1.5 million, saw an increase of 315.4%.

With August's data, which showed the highest year-on-year variation in Ñuble's shipments so far this year, the region has now recorded eight consecutive months of positive growth in export value.

Thus, Ñuble's shipments between January and August 2024 totaled US$929.5 million, equivalent to a 109.6% increase compared to the same period in 2023.

Main Destinations

The main destinations for Ñuble's exports in August were the United States and China, accounting for 34.3% and 25.6% respectively. Germany followed with 2.5% of the total.

Shipments to the United States totaled US$46.9 million, primarily timber and food products, marking a year-on-year increase of 221.6%. Meanwhile, shipments to China reached US$34.9 million, mainly pulp and food products, with a 3,835% increase compared to August 2023.

Recovery

According to Ñuble's Regional Minister of Agriculture, Antonio Arriagada, "the growth in exports reflects a recovery in regional economic activity and in the markets that receive our exports."

He added, "this revival in international trade goes hand in hand with the industrial development of the region," highlighting the contributions of the timber-forestry and pulp sectors on one hand, and the food industry, which represents a third of Ñuble's total exports.

The official noted that "non-industrial agricultural and forestry exports have a smaller impact," but emphasized that they still grew by nearly 250%.

"This expansion in the regional export matrix implies greater industrialization of our economy," Arriagada analyzed.

Source:La Discusión