LatinNews Daily - 08 June 2021

In brief: Copper sustains Chile’s trade surplus

* Chile’s central bank (BCCh) has released the latest figures on the country’s trade flows, which show that exports totalled US$7.9bn in the month of May, while imports totalled US$6.6bn, leaving Chile with a US$1.3bn trade surplus last month. This was 37% below the US$2.1bn trade surplus recorded a year earlier, in May 2020; however, the value of exports was up 35% and the value of imports up 75% on a year earlier. The high international price of copper sustained the growth in exports this year: mining exports were worth US$5.3bn in May 2021, of which US$4.97bn were copper, compared with US$3.2bn and US$2.9bn in May 2020. Copper prices reached a record price of US$4.86 per pound during the month of May.