July 7, 2020 / 12:54 PM / a month ago

Chile posts $1.39 bln June trade balance, copper exports up 0.6% y/y

SANTIAGO, July 7 (Reuters) - Chile posted a trade balance of $1.391 billion in June, the central bank reported on Tuesday, while copper exports were $2.67 billion, up 0.6% year on year.

Total exports were $5.414 billion, a year-on-year increase of 2.3%, while imports showed a pronounced 18% drop to $4.023 billion as the South American nation reels from the effect of the new coronavirus pandemic and the associated economic shutdown to halt its spread.

Since early April leading copper miners in Chile have churned out more copper than a year earlier but prices in June started to creep upwards as unions warned of an “alarming” increase in cases among workers and a re-evaluation of operational continuity plans. (Reporting by Aislinn Laing and Fabian Cambero; editing by Jason Neely)

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