Peru: Merchandise exports decrease at softer pace in July
September 3, 2020
Merchandise exports shrank 14.4% year-on-year in July, on the heels of June’s 30.7% plunge. July´s reading marked the softest contraction since February 2020.
Meanwhile, merchandise imports plunged 23.3% on an annual basis in July (June: -29.2% yoy). As a result, the merchandise trade balance improved, recording a USD 0.9 billion surplus in July (June: USD 0.6 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 5.1 billion surplus in July, compared to USD 4.9 billion surplus in June.
Author: Stephen Vogado, Economist