Chile: Trade Surplus Narrows

Chile posted a trade surplus of $543 million in May, down from $1.02 billion a year earlier as rising consumer confidence led to surging sales of imported cars and electronics. Consumers have boosted spending after the economy expanded in 2004 at its fastest pace in seven years, pushing down the unemployment rate to 8.2 percent in April from 8.7 percent a year earlier. Imports in May rose 36 percent year-on-year to $2.52 billion, while exports rose 7 percent to $3.06 billion.