07 October 2008

Chile Posts First Monthly Trade Deficit in Six Years (Update1)

By Sebastian Boyd and Nathan Gill
     Oct. 7 (Bloomberg) -- Chile posted its first trade deficit
in six years in September as prices for copper, the country's
biggest export, tumbled.
     Chile imported $319 million more than it exported, the
central bank said on its Web site. The median estimate of 15
economists polled by Bloomberg was that Chile would post a trade
surplus of $618 million. Exports totaled $5 billion and Chile
imported $5.4 billion in September, the central bank said.
     Copper exports account for about 38 percent of Chile's gross
domestic product, according to central bank figures. Production
of the metal fell in July and August as ore quality deteriorated.
     The price of copper, which accounts for 55 percent of the
country's exports, fell 16 percent in September.