Chile closed 2018 common trade surplus of US $ 5,378 million, thanks to copper exports that grew 4.7% more than in the previous year, the Central Bank said on Monday.
The positive balance occurred after registration exports for $ 75,481 million, above imports that reached 70,103 million, according to a BC report.
Foreign sales in 2018 grew 9% compared to 69,229 million in 2017, while imports increased 14.3%, compared to 61,307 million in the previous year.
In 2017, the country closed with a trade surplus of US $ 7922 million.
Only in December 2018, the trade balance showed a positive balance of US $ 596 million in December.
The annual result is based on the positive numbers for copper sales – Chile is the world's largest producer with more than a third of the global supply, which reached 36.495 billion dollars, more than the 34.868 million registered in 2017.
Thanks to the red metal, mining exports surpassed 40,000 million dollars in 2018, which means 5.6% more than in 2017. Only copper shipments grew by 4.7%.
Meanwhile, the industrial sector sold 29,074 million last year, 13.3% more than in 2017.
By 2019, the Central Bank projects a trade surplus of 6,000 million dollars.