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Chile: Copper exports down 47 pct in Jan.-July

August 18, 2009, 02:39 AM Post Comments
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The Chilean Central Bank says year-to-date copper exports are down 47 percent after the world economic crisis hit prices for the nation's No. 1 export.

The bank says copper exports through July totaled about $12.7 billion, compared with $25.1 billion in the same period of 2008.

Shipments last month were $2.5 billion _ down 22 percent from $3.2 billion in July 2008.

Chile is the world's largest producer of copper, which makes up 40 percent of its exports.

The world economic crisis slashed prices for the metal by half, though they recently have rebounded partially.

Last week, state-run copper giant Codelco reported that profits fell 82 percent in the first half of the year.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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