Peru Trade Balance January 2021

Peru

Peru: Merchandise exports accelerate in January

March 12, 2021

Merchandise exports soared 9.4% annually in January (December: +3.7% year-on-year). Meanwhile, merchandise imports dived 9.4% over the same month last year in January (December: +9.2% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.0 billion surplus in January (December 2021: USD 1.1 billion surplus; January 2020: USD 0.3 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 8.4 billion surplus in January, compared to the USD 7.7 billion surplus in December.

Panelists participating in the LatinFocus Consensus Forecast project that exports will surge 11.6% in 2021 and imports will rocket 11.6%, bringing the trade surplus to USD 8.6 billion. For 2022, FocusEconomics panelists expect exports to expand 4.6%, while imports are projected to rise 7.6%, bringing the trade surplus to USD 7.9 billion.


Author:, Economist

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Peru Trade Balance Chart


Peru Trade12m January 2021

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Peru Central Bank (BCRP).


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