Commodity Prices Remain Key To Export Outlook

May 2007 | Economic Analysis

BMI View: Despite the appreciation of the peso, Chile posted record-high trade and current account surpluses in 2006. The strong outturn was largely the result of high commodity prices, and has led us to revise our year-end forecasts for Chile's external accounts. That said, Chile has increased its dependence on commodity exports over the past 15 years, making the economy susceptible to external shocks.

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