The copper exportations suffered a strong drop in 2015, affecting by the deceleration of the Chinese economy, the main buyer worldwide. Thus, the tendency to the fall during the last years has been maintained and currently we have one of the worst rates of the decade.
According to the information disclosed this Thursday by the Central Bank, the 2015 period scored million dollars profit, that is US million less regarding to the same period in 2014.
The reduction of 17.8% goes together with the fall in price of the copper pound that this week registered an important loss at the London stock exchange, pushed by the devaluation of the yuan.
Since 2011 the copper annual nominal price still falling down to 20% less in relation with the average price from 2014-2015. Clearly this is a complex scenario for a country where the red metal represents more than the middle of its exportations.
In addition, the raw materials and manufactured products exported from our country lost strenght during 2015.