“Copper roughly represents 40% of the country’s export revenue and minerals constitute the majority of the revenue in total,” according to Emerging Equity.

According to a Citigroup note cited by Bloomberg, Citi analysts say Chilean stocks are getting so inexpensive that the market is close to being a “screaming buy” and that things there are not nearly as bad as they are in Brazil, Latin America’s largest economy.

iShares MSCI Chile Capped ETF

Tom Lydon’s clients own shares of ILF.