Chile posts $1.314bn trade surplus in May, copper exports up 70% y/y

Chile posted a trade surplus of $1.314 billion in May, the central bank reported on Monday, amid a surge in the value of its copper exports.

The value of copper shipments increased 70% year-on-year to $4.967 billion in May, as prices for the red metal soared to record highs. Total exports from the South American nation hit $7.920 billion, while imports were $6.606 billion.

(By Fabian Cambero and Aislinn Laing; Editing by Gareth Jones)