Copper Controls Chile Surplus

Chile’s trade surplus for the year through August was $15.1 billion, a 122% increase on the same period last year when the difference between the country’s exports and imports totaled $6.8 million. The overall surge in the value of exports was once again due to the high price of copper, Chile’s major export, which is around double what it was this time last year. Copper exports earned the country $20.4 billion for the period, of total exports of $38.4 billion, compared with $11.4 billion for the period last year, of a total of $24.5 billion. And figures for August – which show a narrowing of the trade surplus to $1.84 billion from $2.65 billion in July – are a result of the 25-day strike at the country’s largest copper mine, say the government.