UPDATE 1-Chile revises down Q1 trade surplus to $4.08 bln

* Q1 trade surplus revised down to $4.08 bln from $4.77 bln

* Copper drives exports; oil, fuel purchases drive imports

* 1st-half May trade surplus $776 mln vs $845 mln year ago
(Adds trade details, trade balance to mid-May)

SANTIAGO, May 24 (BestGrowthStock) – Chile’s trade surplus grew a
revised 35.8 percent to $4.08 billion in the first quarter from
the fourth quarter, the central bank said on Monday, adding it
had factored in updated price variations for goods during the
period.

In April, the central bank reported the trade surplus
totaled $4.772 billion in the first quarter.

Revised exports totaled $16.24 billion during the first
quarter, while imports totaled $12.16 billion. Compared with
the first quarter of 2009, exports rose 41.4 percent while
imports rose 27.1 percent.

Copper cathodes and concentrate sales boosted first-quarter
exports while imports rose on deliveries of cars plus purchases
of crude oil and diesel, the bank said in a report.

An 8.8-magnitude quake in February damaged two key oil
refineries, boosting fuel imports to the South American nation.
The massive quake did not hurt the mainstay copper industry.

Repairs to the state-owned refineries are expected to
gradually reduce the need for fuel imports, but will increase
crude oil intake.

Chile, the world’s top copper producer, posted a trade
surplus of $776 million in the first half of May compared with
an $845 million surplus during the same period a year ago.

Exports totaled $3.08 billion during the first half of May
compared with $2.24 billion during the same period last year,
while imports totaled $2.3 billion versus $1.39 billion during
the year-ago period.

Stock Today

For central bank report on trade click on:
http://www.bcentral.cl/publicaciones/estadisticas/sector-externo/pdf/ice012010.pdf
(Writing by Alonso Soto; Editing by Chizu Nomiyama)

UPDATE 1-Chile revises down Q1 trade surplus to $4.08 bln