Weekly Report - 14 January 2010 (WR-10-02)

CHILE | Trade surplus. Chile posted a trade surplus of US$13.32bn in 2009, 51% more than the previous year, the central bank announced. Exports totalled US$53.03bn, 20% down on 2008, while imports came to US$39.71bn, a decline of 31%. The trade surplus was US$1.60bn in December, however, with exports up 52% to US$5.47bn, compared with the same month in 2008, as copper prices, and the economy, showed signs of recovery. The trade surplus was US$10.16bn in 2008, down from a record US$23.65bn in 2007. Chile registered deflation for the first time in 74 years in 2009, according to the national statistics institute (INE). Deflation was 1.4% compared with inflation of 7.1% in 2008. The central bank is predicting inflation of 2.5% in 2010.

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