Chile Trade Surplus Narrows

Chile’s trade surplus fell in October as imports hit a record high driven by domestic demand. The surplus narrowed to $1.73 billion as a result of record imports of $3.26 billion. Meanwhile, exports weakened slightly, down to $5.0 billion from $5.2 billion in September. October’s trade surplus compares with $597 million for the same month last year, up almost 200%. Exports for the month compared with October 2005 were up 44%, reflecting the strength of global copper prices, and imports were up 13.5% versus October last year.