Peru Trade Balance August 2020

Peru

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.

Panelists participating in the LatinFocus Consensus Forecast project that exports will fall 19.9% in 2020 and imports will drop 18.3%, bringing the trade surplus to USD 4.7 billion. For 2021, FocusEconomics panelists expect exports to expand 16.1%, while imports are projected to rise 15.4%, bringing the trade surplus up to USD 5.7 billion.


Author:, Economist

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Peru Trade Balance Chart


Peru Trade12m August 20 20

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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