Chile’s economy shrank 5.8% in 2020 due to pandemic: the worst drop in four decades

The Central Bank reported that the impact of the health crisis was particularly evidenced in the second and third quarters, with losses of 14.2% and 9%, respectively.

RIO DE JANEIRO, BRAZIL - The novel coronavirus pandemic, currently experiencing a second wave in Chile, caused the country's gross domestic product (GDP) to contract 5.8% in 2020, the worst drop in four decades, since the 1982 crisis, the Central Bank reported on Thursday.

"The impact of the health crisis on economic activity was mainly evidenced in the second and third quarters, with contractions of 14.2% and 9%, respectively," the Central Bank stated.

The activities most affected by the restrictions imposed by the pandemic were construction and services, including transportation, restaurants and hotels, while the only sectors posting . . .

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