Agoracom: Small Cap Investment - Global Hunter Corp. - Chile April trade surplus, copper revenues surge

Setting Our Sites on Low Cost Copper

Global Hunter's La Corona de Cobre project is over 15,000 hectares of land located in the Coast Range of the Andean Cordillera, Chile, an area often referred to as the Chilean Iron Belt.

Dear Agoracom Family,

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Chile April trade surplus, copper revenues surge

posted on May 09, 2011 10:46AM

SANTIAGO, May 9 (Reuters) - Chile posted a trade surplus of $1.58 billion in April, up 26.1 percent from a year earlier as imports surged, while copper export revenues jumped, the central bank said on Monday. Exports totaled about $7.15 billion during April, up 29.8 percent, while imports were about $5.57 billion, up 30.9 percent from the same month in 2010. Chile, the world's top copper producer, posted a trade surplus of $1.22 billion in March this year, according to central bank data released last month. The trade surplus during the January-April period rose to $6.148 billion from $6.013 billion in the same period last year. Chile's copper export revenues were up 22 percent to $3.728 billion in April from a year ago, boosted by strong prices for the metal. Copper shipments accounted for about 52 percent of total export revenue in April. Copper export revenue was down from $3.876 billion in March, the bank reported last month. Chile is the world's top copper producer, mining about one-third of global supply. Copper prices surged 31 percent in 2010 and hit an all-time high in February due to strong demand from China, though they have since eased back. Chilean imports have surged in recent months due to strong demand as the economy grows, soaring global energy prices and a strong peso, which is trading at around 3-year highs and makes imported goods relatively cheaper.

(Reporting by Brad Haynes; editing by Jeffrey Benkoe) Keywords: CHILE ECONOMY/TRADE ([email protected]; +562-370-4250; Reuters Messaging: [email protected]) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Source: http://classic.cnbc.com/id/42957081

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