Peru Trade Balance September 2022


Peru: Merchandise exports fall at a quicker rate in September

November 15, 2022

Merchandise exports declined 4.6% on an annual basis in September, on the heels of August’s 0.2% drop. Meanwhile, merchandise imports shot up 16.0% on an annual basis in September (August: +25.7% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 0.7 billion surplus in September (August 2022: USD 0.3 billion surplus; September 2021: USD 1.6 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 12.5 billion surplus in September, compared to the USD 13.5 billion surplus in August.

LatinFocus Consensus Forecast panelists project merchandise exports to increase 0.6% in 2023, and merchandise imports to grow 1.6%, resulting in a USD 12.5 billion trade surplus. In 2024, our panel estimates merchandise exports and imports to grow 4.9% and 3.4% respectively, with a trade surplus of USD 13.9 billion.


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Peru Trade Balance Chart

Peru Trade12m September 2022

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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