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Chilean forestry exports show sustained growth in 2024

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• Despite a drop in May, the sector shows a 3% increase in exports between January and May 2024.

Chilean forestry exports have recorded steady growth in the first five months of 2024, reaching US$ 2,448.8 million FOB, representing a 3.0% increase compared to the same period the previous year. This sector, which accounts for 5.8% of the country's total exports, has shown positive performance despite a decline in May, when a 23.1% drop was observed compared to the previous month and an 8.6% decrease compared to May 2023.

Analysis by the National Forestry Institute (Infor) highlights that, although May saw a decline in exports, reaching US$ 400.6 million FOB, January 2024 was the strongest month of the period, with a total of US$ 539.1 million FOB. This represented a significant 28.4% increase since December 2023, marking a promising start to the year for Chile's timber industry.

The forestry industry is a key component of Chile's economy, and its export performance is an important indicator of the country's economic health. The sustained growth in the first months of 2024 is a positive sign for the sector, which aims to maintain its relevance in international markets.

Despite the drop in May, Infor experts remain optimistic for the rest of the year, based on the observed growth trend. However, they acknowledge that challenges such as fluctuations in global demand and potential impacts from external economic factors could affect the sector's performance.

Chile's forestry sector remains a key player in the country's economy, and its ability to adapt and overcome obstacles will be crucial to sustaining growth in the future.