Economy / Chile
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Trade Surplus Narrows
March 2008 | Ratings UpdateSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Chile's merchandise trade balance narrowed by 23.6% y-o-y during the first two months of 2008, as import growth picked up significantly on the back of higher energy import costs and a soaring peso, which appreciated by some 8.8% against the dollar during that period. Merchandise imports grew 39% y-o-y during January and February to US$8.6bn, while goods exports expanded by only 13% y-o-y to US$12.0bn. We are currently pencilling in a narrowing of the merchandise trade surplus to US$18.4bn, down from US$23.0bn in 2007, and expect the trade balance to narrow further over a five-year forecast horizon to US$12.0bn by 2012.