SANTIAGO, Chile, May 07, 2012 (Dow Jones) -- The value of Chile's copper exports in April fell to $3.58 billion from $3.89 billion a year earlier, the central bank said Monday.
Chile is the world's largest copper-mining country, producing a third of the global supply.
The Andean nation's mining industry, according to the central bank, represents about 16% of the country's gross domestic product.
The drop was due to copper fetching an average $3.75 a pound in April, according to state copper commission Cochilco's market data, versus the $4.30/pound it averaged in April 2011.
The nation's overall mining exports, including molybdenum, iron, silver, iodine and lithium, fell to $3.95 billion in April from $4.26 billion a year earlier.
In 2011, the value of Chile's copper exports rose 6% on the year to $42.63 billion, while the value of its mining exports grew 9% on the year to $48.15 billion.