The value of Chile's copper exports was $2.692 billion in October, down 28.6 percent from the same month last year, central bank figures showed on Monday.

In September this year, Chile exported $2.323 billion worth of copper and in October 2007, copper exports were worth $3.770 billion.

Chile is the world's top copper producer and strong prices, driven by limited supplies and booming Asian demand, helped push the nation's trade surplus to record levels in recent years. But the price of the metal has plunged on world markets in recent months, prompting the central bank to scale back its economic growth forecasts.