Economic situation in Chile (November, 2022)

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.)