DAccording to preliminary information from the National Accounts, during the first quarter of 2024, the Gross Domestic Product (GDP) grew in 15 of the 16 regions of the country, contributing to the growth of 2.3% of the national total. Meanwhile, household consumption grew in 13 regions, in line with the 0.6% variation of the country as a whole.
Considering the GDP breakdown by macro-zones, with the exception of the Austral zone, all presented positive impacts, with the contribution of the North and Central South zones standing out (Chart 1).
Similarly, household consumption was the result of positive contributions from all geographic areas except the Austral region. In this result, the contribution of the Central South and North regions stood out (Chart 2).
Mining, EGA and transport services showed positive results in most regions, having a transversal impact on GDP growth. Mining grew, driven by both copper and non-metallic mineral extraction (lithium). Meanwhile, the increase in EGA was explained by electricity generation, which registered the use of lower-cost inputs, where the increase in water resources and solar and wind energy stood out. Household consumption, for its part, reflected the increase in spending on services and non-durable goods in most regions. Within the consumption of services, transportation and restaurants and hotels stood out, and in non-durable goods, the higher spending on pharmaceutical, cosmetic and household cleaning products. On the other hand, consumption of durable goods had a negative impact in most regions, mainly associated with the lower sale of automobiles.
Northern Macrozone
The Arica and Parinacota region grew by 2.6%, mainly influenced by other goods, where the contributions of fishing and electricity generation stood out. This was partly offset by the fall in mining. Meanwhile, the 1.9% growth in household consumption was almost entirely explained by the higher spending on non-durable goods, mainly food and beverages.
The 9.1% expansion recorded in the Tarapacá region was explained by all activities, with the mining industry, specifically copper mining, standing out. To a lesser extent, the growth of other goods, associated with construction, also contributed. Meanwhile, household consumption grew by 1.9%, positively influenced by all its components, but mostly by spending on non-durable goods, where pharmaceutical products and clothing stood out.
The Antofagasta Region recorded a growth of 7.8%, mainly due to mining, with the contribution of lithium carbonate and copper extraction standing out. Electricity generation, for its part, explained the positive contribution of the rest of the goods. Household consumption grew 2.3% in line with the increased consumption of services, especially spending on transportation and restaurants and hotels.
The 3.8% increase in the Atacama region was explained by contributions from other goods, specifically, by electricity generation; and from mining, which was driven by iron extraction. For its part, household consumption grew 0.9%, mainly explained by spending on non-durable goods, in particular, spending on clothing, fuel and pharmaceutical products.
macrozone center
The Coquimbo Region grew by 1.4%, mainly due to services, particularly health, transportation and business. Trade partly offset previous results, with negative impacts from wholesale and automotive sales. The 0.4% increase in household consumption was due to higher spending on non-durable goods, particularly clothing and pharmaceutical products.
The 1.4% increase in the Valparaíso Region was explained by the results of copper mining and services, which were driven by transport and health. The manufacturing industry partly offset the result, due to lower fuel refining. Meanwhile, household consumption grew 0.7% associated with higher spending on non-durable goods (pharmaceutical products and food and beverages) and services, mainly transport and health.
Metropolitan region
The Metropolitan Region recorded a 0.6% variation, explained mainly by the performance of services, with the growth of transport activity standing out. Similarly, consumption of services, particularly transport and restaurants and hotels, explained the 0.1% variation in household consumption, which was offset by lower spending on non-durable goods, mainly food and beverages.
South Central Macrozone
The Libertador General Bernardo O’Higgins region grew by 1.4%, driven by other goods, particularly electricity generation, agricultural activity and construction. These results were partly offset by the fall in copper mining. Household consumption grew by 1.1%, explained by spending on non-durable goods, in line with increases in the consumption of food and beverages and clothing products.
The 4.6% increase in the Maule Region was explained by increases in other goods, due to electricity generation, and in services, influenced by transport and health. Household consumption registered an increase of 0.9%, explained mainly by the consumption of services, with transport and restaurants and hotels standing out.
The Ñuble Region grew by 4%, driven by other goods, services and the manufacturing industry. In other goods, the contribution of agricultural and forestry activities stood out, in services, health and business services, and in industry, the production of cellulose and wood. The 3.2% growth in household consumption reflected the higher spending on non-durable goods, particularly food and beverages, followed by clothing and pharmaceutical products.
The Biobío Region grew by 1.4%, driven by the manufacturing industry, where fuel refining and pulp production stood out, followed by contributions from services, particularly transportation and health. Household consumption, meanwhile, grew by 1.1%, mainly explained by spending on non-durable goods, with food and beverage, clothing and fuel consumption standing out.
#Gross #Domestic #Product #increased #Ñuble #Region #Discusión
