Well before the recent deadly earthquake in Chile, the South American nation with 16.6 million people was already reeling from seismic changes on its international trade balance sheet. This was caused mostly by a punishing global recession.
In particular, Chilean copper faced weak demand in 2008 as construction projects around the world were stalled due to poor credit markets.
Chile and the Global Economy
Exports account for about 40% of Chile’s gross domestic product (GDP). From copper to fruits, commodities comprise about 75% of total Chilean shipments.
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