Chile’s copper output and manufacturing sector decline in January

According to Instituto Nacional de Estadísticas (INE), copper extraction fell 3% year-on-year in January, while manufacturing production decreased 3.8% over the same period.

The INE reported that the Industrial Production Index (IPI) posted a -1.6% variation over 12 months in January 2026, reflecting negative contributions from two of its three components.

The Manufacturing Production Index (IPMan) recorded a 3.8% year-on-year decline, mainly driven by a 15.9% drop in machinery and equipment manufacturing, a segment that subtracted 0.737 percentage points from the overall index variation. In absolute terms, total manufacturing output showed a significant contraction during the period.

Meanwhile, the Mining Production Index (IPMin) edged down 0.1% year-on-year. The main factor behind this result was a 2.3% decrease in copper extraction and processing, which subtracted 1.943 percentage points from the general index variation.

In volume terms, Chile’s copper production totaled 413,712 metric tons in January, representing a 3% decline compared to the same month last year, according to complementary figures released by the INE.

The only remaining component of the IPI did not post a negative contribution during the period; however, its performance was insufficient to offset the declines in manufacturing and mining.