Chile is frequently identified as one of the main beneficiaries of global efforts to put economies on a greener footing, but we doubt that the country will reap the full benefits of this trend. Chile is likely to struggle to substantially raise copper and lithium production and, crucially, we doubt that it will move up the green technology value chain. Instead, Chile is likely to retain its role as a supplier of critical minerals. While this will still support the economy – we expect that Chile will outperform other Latin American economies between now and 2030 – growth will lag behind counterparts in Asia.
In view of the wider interest, this Latin America Focus is also being sent to clients of our Climate and Metals services.
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