Chile Shipping Report Q2 2015
BMI View: We maintain our positive view of the Chilean ports sector, based on significant investments and expansion at the country's maritime facilities and a healthy macroeconomic outlook. We forecast the port of San Antonio, now firmly established as Chile's largest port, to continue its impressive rate of growth over the medium term.
A stable political outlook and sound economic fundamentals position Chile for steady, albeit slower, economic progress, underpinning our view that the country will achieve developed state status over the next decade. While obstacles such as high reliance on copper exports and oil imports continue to pose a risk to economic progress, especially in light of what we see as a long-term downturn in Chinese demand for Chilean copper, we remain optimistic about Chile's economic potential. Diversification away from commodity exports and further development of regional and south-to-south trade will provide an important platform for growth over the next decade.
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