Chile: Current account surplus narrows in the first quarter
May 18, 2011
In the first quarter, the current account balance recorded a surplus of USD 0.7 billion, which was below the USD 1.2 billion surplus tallied in the previous quarter. The reading overshot market expectations of a USD 0.4 billion surplus. The current account surplus primarily reflected a weakening of current transfers, as well as a slight deterioration in the income balance. Meanwhile, the trade balance was virtually unchanged, as exports totalled USD 20.0 billion (Q4 2010: USD 19.8 billion), while imports increased to USD 15.7 billion (Q4 2010: USD 15.4 billion).