Economy
Mining accounts for 45% of the region’s GDP and 90% of its exports. Moreover, various geological surveys have identified new deposits.
Iron ore mining is the most dynamic activity and there are numerous small-scale mines, which sell their output to ENAMI (the national mining company) for processing at its Paipote smelter. The region’s main copper deposit is Candelaria, which produces around 200,000 tonnes per year and is controlled by Phelps Dodge, an international corporation. The next in size is El Salvador, owned by CODELCO, with an annual output of around 81,000 tonnes. Both mines export through the port of Chañaral.
Over recent decades, fresh fruit also emerged as regional export item, when the Copiapó and Huasco valleys joined Chile’s fruit-growing boom. They enjoy a comparative advantage because, thanks to the sunny climate, fruit ripens earlier than in the rest of the country and reaches northern hemisphere markets first.
Grapes are the main crop and, on a smaller scale, olives, tomatoes, peppers, onions, broad beans, citrus fruits, nectarines, apricots, oregano, and flowers.
The region’s organic wealth, its clear waters and sheltered bays, together with its entrepreneurial experience, favor the development of aquaculture. Species produced include the northern scallop, Japanese and Chilean oysters, abalone, turbot, algae, and different varieties of mussels. Other products with more value added include boned fish fillets, smoked and salted fish, roe, and fishburgers.
Read more about this topic: Atacama Region
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)