Magallanes, second in growth
Magallanes Region recorded the second strongest economic growth in Chile during the first half of 2000, compared to the same period a year ago, according to the Chilean Index of Regional Economic Activity.
The fastest growing region in Chile was Coquimbo which recorded a 45,7% increase and then Magallanes with 18,6%, compared to a national 6,1% average for the first half of the current year.
However numbers can be misleading: the spectacular achievement of the IVth. Region Coquimbo was mainly the result of the opening of the Los Pelambres mining complex; had this not been included growth would have dropped to 8,6%.
Similarly in Magallanes: the great thrust belongs to the inauguration of the third section of the methanol plant close to Punta Arenas, otherwise the index would have only recorded a 2,2% jump.
Nevertheless Roberto Gillet from the Regional Financial Office pointed out that the second quarter was particularly encouraging since most industries in Magallanes experienced a strong recovery.
Construction was the leading industry followed by manufacturing, financial services, fisheries, agriculture, commerce and public utilities.
Capital investment by the regional government of Magallanes and the Ministry of Public Works was decisive together with an increase in house building by the private sector. Reduction in 2001 extraction
Reduction in 2001 extraction
Following a suggestion from the Chilean Fisheries UnderSecretary, the Magallanes Regional Fisheries Council declared this week that hake fisheries were fully exploited, and therefore established new catch limits for 2001. "We want to limit the current levels of catches for conservation purposes and to help the food chain", said Bernardo Troncoso from the regional Economic Office. The Council's decision means that the annual hoki extraction will be reduced from 300.000 tons to 125.000 and the southern blue whiting to just 25.000 tons. "Both species are essential for the Patagonian hake and golden kingklip food chain, which makes conservation even more important" indicated Patricio Días from the Regional Fisheries Council. Mr. Troncoso said that there are currently 19 hoki and southern blue whitin