Chile Posts August Trade Surplus as Exports Decline Less Than Imports
RIO DE JANEIRO, BRAZIL – Chile posted a trade surplus of US$ 904 million (R$ 4.9 billion) in August, the central bank said on Monday, September 7th, with a drop in levels versus a year earlier of both exports and imports for the month.
The world’s largest copper producer also saw the value of shipments of the metal fall 13.2 percent year-on-year in August to US$ 2.761 billion, hit by a dip in production and low prices.
Chile’s copper industry has largely escaped major impact from the coronavirus pandemic, although miners have had to limit on-site personnel and temporarily halt some long-term projects and the country’s wider economy has suffered.
The country’s total monthly exports fell 10.8% year-on-year to US$ 5.421 billion, while imports fell 22.4% to US$ 4.517 billion.
Chile’s central bank has estimated the economy will contract 4.5%-5.5% this year due to the impact of the pandemic, although it has said that the country has already overcome the hardest months and is showing some signs of recovery.
More: Latin America news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
In depth