Interwar period: mining index in selected American countries 1923-1944

The economic instability of the Great Depression spread into virtually all areas of the economy, and downturn in the U.S. created a ripple effect that spread to countries all over the world. The mining industry in Chile, which has historically been one of the most important sectors of the economy, suffered massively during the Great Depression, as decreased international demand and higher tariffs saw exports to its major trading partners (Germany, the UK, and the U.S.) fall sharply. Chile's mining output in 1932 was just a quarter of its level in 1929. Mining in both the U.S. and Canada also fell during this time, and it was not until 1937 when they reached pre-Depression levels once more.