Chile reports historic trade surplus amid regional energy and oil developments

Chile has achieved a historic trade surplus of US$25.7 billion for the January-September period, driven by an 18.5% increase in goods exports, which reached a record US$93.8 billion. Mining activity, led by copper, accounted for 62.7% of these exports.

In energy infrastructure, Chile and Peru are discussing a US$550 million electrical interconnection project. The initiative aims to exchange energy between Chile’s solar and wind sources and Peru’s hydroelectric and gas generation, potentially generating US$170 million in annual economic benefits.

Additionally, the Chilean state oil company Enap announced it is acquiring 100% of Pluspetrol Ecuador B.V. for a base price of US$207 million. This strategic move is intended to secure crude oil supply for Enap’s refineries in Chile and increase its daily production in Ecuador by 26%.

In the Dominican Republic, total imports rose 9.1% year-on-year to US$24.65 billion between January and September. This growth was partially driven by a 29.8% increase in petroleum product imports.