Chile's trade surplus dropped 23% in August

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SANTIAGO.-  According to a report released by the central bank, Chile registered a trade surplus of USD$ 780 million in August, declining 23% when compared to August of 2007.

During the eighth month of the year, Chile reported $ 6,269.8 million US dollars in exports, representing a 22.2% increase compared to August of 2007, lead by shipments of copper and cellulose, among others.

Meanwhile, imports grew by 33.2% to USD$ 5,439.8, falling very close to the record figure reported during the previous month (USD$ 5,593.9 million) thanks to a solid level of dynamism in machinery investments, although the amount was also influenced by purchases of intermediary goods, such as oil.

Over the first eight months of the year, the trade balance accumulated a surplus of USD$ 12,570.1 million, compared to the USD$ 18,423.2 million accrued during the same time period last year.

For the whole of 2008, the central bank has predicted a trade surplus of USD $17,000 million.