Copper exports reduce 2% in June due to price drop
10-Jul-2012 Pulso – News
In the meantime, balance of trade gathers US$4,718 million surplus up to June, 41.9% less than in 2011
Amounting to US$3,827 million copper exports recorded a 2% drop if compared against same period last year, as reported by Central Bank.
These figures represent that red metal exports added up US$21,108 million during the first six months of year which could not match the US$22,938.1 million obtained during first semester last year. Thus, mining export experienced a 1.6% drop with respect to previous year, which, in accordance with the opinion of Sebastián Senzacqua – Economics and Fixed Rent for Bice Investments – is mainly due to the 18.5% lessening of copper price so far. “The hurdles in the outer scenario have limited exports, consequently the drop raw materials have experienced during the period, and particularly copper, have made mining exports decrease”, he states.
Thus, total exports add a total drop of 2.3% hitherto. On the other side, imports have practically remained invariant by only increasing 0.2% during last 12 months which adds up 7.3% improvement mainly represented by 8.4% increase of consumers goods purchases during this month. In the meantime, Chile reported a US$1,036 million surplus in June thus collecting a positive balance of US$4,718 during first semester, although reducing 41.9% with respect to same period in 2011.
