Peru: Merchandise exports decrease at a more pronounced rate in August
October 7, 2020
Merchandise exports plummeted 21.9% over the same month last year in August, falling at a quicker rate than July’s 12.7% fall. The accelerated drop was primarily driven by a sharp fall in mining and oil exports.
Meanwhile, merchandise imports plummeted 24.0% in annual terms in August (July: -23.1% year-on-year). As a result, the merchandise trade balance deteriorated, recording a USD 0.3 billion surplus in August (July: USD 1.0 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 5.3 billion surplus in August, compared to the USD 5.2 billion surplus in July.
Author: Stephen Vogado, Economist