In 2008 Chile's per capita steel consumption totaled 176 kg, which makes it the largest steel consuming country in Latin America, per capita, according to a report released this week by the Chilean Steel Institute (ICHA).
Chile's steel consumption in 2008 was approximately 50 kg per capita higher than the average consumption of the whole Latin American region in 2008, of 126 kg. The largest steel consumer in Latin America in 2008 in terms of total tons consumed was, of course, Brazil.
Chile's 2008 steel consumption also represents an increase of 25 percent from the country's steel consumption in 2007, which averaged at 141 kg per capita, said ICHA. ICHA also said in the report that Chile's apparent steel consumption (which is different than actual steel consumption) grew at an average annual rate of 5.5 percent over the last 19 years through 2008.
Nevertheless, the country's consumption might make a departure from this growing trend in 2009 -- according to a group of experts consulted by the Central Bank, Chile’s economy will shrink 0.7 percent in 2009. On the positive side, according to a survey from the Central Bank to analysts and scholars, the Chilean economy is expected to quickly recuperate in 2010, growing by 2.8 percent.