Chilean export recorded strong gains of nearly 50% in JanuaryPublished: February 10, 2010
Import grew by 22.9%, while the trade surplus increased 150% over the same month, according to the Central Bank.
A growth of almost 50%, total of US$ 58722 million, was recorded in export during the first month of this year. Import showed an increase of 22.9% generating the difference between those two, a trade surplus of US$ 2074.7 million, as reported by the Central Bank.
For economist at the University of Santiago, Francisco Castaneda, this "spectacular" increase occurred because "the export performance of the Chilean economy has improved over the last twelve months and because the rate was very low because of the crisis effect". As for import he explains that it "have been fairly moderate because of the decreasing consumption", he also adds that "at any level of exports, a surplus is very bulky".
Despite the positive figures, Castaneda calls for caution because of the economic situation, which still retains some European countries, "although export is going to recover, we must remember that between 20% and 25% of Chilean trade is with the European Union and some countries have tax debt problems affecting their economies" he says.
Yet there are no projections for the rest of the year, but it is noteworthy that in 2009 the trade balance accumulated a surplus of US$ 13.316.2 million, as the difference between export (US$ 53.024.1 million) and import (US$ 39,707.9 million).
Source: www.lanacion.cl