Chile tallies economic losses from severe storm that killed 13

Chile is still quantifying the economic fallout from a powerful storm that claimed at least 13 lives and left thousands displaced. The government is actively assessing the damage, with early estimates suggesting losses could reach around $400 million. The severe weather system affected 10 of the country's 16 regions, impacting nearly 3,664 people and leaving approximately 58,000 isolated.

Beyond the human toll, the storm inflicted widespread damage on infrastructure. Over 25,000 homes suffered damage of varying degrees, while roads, public utilities, and agricultural facilities were also hit hard. A study by investment management firm Colliers highlighted extensive damage to bridges, roads, and electrical networks, disrupting rural connectivity. While some agricultural areas faced prolonged flooding, affecting crops like wheat and barley, the storm also brought a silver lining: replenishing water levels in reservoirs after years of drought.

“

The Government has the resources to meet the needs as appropriate.

The retail sector also felt the impact, with the National Chamber of Commerce estimating losses between $20 million and $25 million. The chamber has called for a special government plan to support small and medium-sized enterprises (SMEs) affected by the disaster.

The reconstruction efforts will serve as a significant test for President Gabriel Boric's administration, particularly as the country grapples with economic stagnation. The storm's impact is expected to negatively affect the July economic activity index (Imacec), with experts predicting a 0.2 to 0.3 percentage point reduction, a preliminary indicator for GDP.

“

The damage to fruit species is more limited as most species are in winter recess; however, in winter crops such as citrus and avocados, we have cataloged some damage due to strong gusts of wind.