Chile Trade Surplus Drops

Chile’s trade surplus fell from $1.17 billion in December to $759 million in January, less than expected but due to the increase in capital goods imports, according to analysts. This was the first time in four months the surplus had fallen and was 1.3% down on last year’s figure of $769 million. Exports for the month were up 23% year on year to $3.65 billion, while imports rose 31% to $2.89 billion as mining companies took advantage of continuing strong commodity prices to invest in imported machinery.