According to the Economic Situation Report (November) issued by the department of economy of the Embassy of Japan in Chile, Chile’s current economic situation can be summarized as following.:
While the overall economic activity index in October was negative compared to the same month last year, in mining section posted 1.7%.
The mining production index in October was 0.71%, and the copper production was 2.2%.
Exports in November amounted to $7.81 billion (-8.4%), of which mining products accounted for $4.65 billion (-14.0%, 59.6% of the total).
Among them, copper accounted for 3.62 billion dollars (-27.9%, 77.7% of the total export value of mining products).
On the other hand, the import value in November was 7.53 billion dollars (-2.1%), and the trade balance was surplus of 290 million dollars.
*all the percentages without description show a reference to the same month of the previous year
The amount of trade with China, Japan, and South Korea (October) resulted as below:
With China: exportation 3.02 billion (-5.2%), importation 1.63 billion (-35.3%), total amount of trade 4.66 billion (-18.5%)
With Japan: exportation 690 million (13.5%), importation 230 million (-12.1%), total amount of trade 960 million (5.8%)
With South Korea: exportation 390 million (12.2%), importation 120 million (-27.0%), total amount of trade 510 million (-0.6%)
*Dollars, comparing to the same month of the previous year
The report also picks up news that SQM (Chile) is forecasting an increase of more than 40% in lithium demand.
Hope there will be more positives in mining and international trade.
Reference: The regular report of economy November 2022, from the Embassy of Japan in Chile, Department of Economy.
(The original report is written in Japanese.)