Peru Trade Balance May 2022


Peru: Merchandise exports decrease in May

July 7, 2022

Merchandise exports declined 0.8% in annual terms in May (April: +11.9% year-on-year). May’s outturn marked the sharpest fall since August 2020, and was driven by lower mining exports, likely linked to worker unrest disrupting output. Meanwhile, merchandise imports jumped 13.0% over the same month last year in May (April: +26.1% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 0.4 billion surplus in May (April 2022: USD 0.2 billion surplus; May 2021: USD 0.9 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 15.2 billion surplus in May, compared to the USD 15.7 billion surplus in April.

LatinFocus Consensus Forecast panelists project merchandise exports to increase 6.6% in 2022, and merchandise imports to grow 7.4%, resulting in a USD 15.4 billion trade surplus. In 2023, our panel estimates merchandise exports and imports to grow 2.1% and 2.9% respectively, with a trade surplus of USD 15.4 billion.


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