Value of Chile’s copper exports jumps 21.9% in December, 40.6% in 2021
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Chile, the world’s largest copper producer, saw the value of its exports of the metal soar 21.9% in December and 40.6% in 2021, the central bank said on Friday, bolstered by strong prices. The value of its copper shipments reached $4.91 billion last month and $53.42 billion in 2021 as a whole. Copper prices hit record highs last year, supported by expectations for a strong global economic recovery from the COVID-19 pandemic.
However some experts believe that the metal will perform more weakly this year due to an increase in global supply. Chile also reported a trade surplus of $520 million for December, the central bank said, up 21.7% year-on-year. The Andean country posted a $10.9 billion surplus in 2021 overall, buoyed by copper exports. Chile had recorded a $18.37 billion deficit in 2020.