Peru: Exports contract for fifth consecutive month
October 12, 2012
In August, exports declined 19.7% over the same month last year to USD 3.7 billion, which followed a contraction of virtually the same magnitude in July (-19.8% year-on-year). The reading represented the fifth consecutive fall and came in on the back of a decline in exports of traditional goods, particularly exports of minerals, coffee, and petroleum products. Meanwhile, imports increased 9.3% and reached USD 3.8 billion, which came in well below the 21.7% expansion observed in July. As a result, the trade balance incurred a deficit of USD 52.4 million, which contrasted the USD 1.2 billion surplus observed in the same month last year.
Author: Ricardo Aceves, Senior Economist