Peru Trade Balance December 2020


Peru: Merchandise exports grow at a milder rate in December

February 4, 2021

Merchandise exports rose 3.7% in annual terms in December, on the heels of November’s 8.8% jump. Meanwhile, merchandise imports jumped 9.2% in annual terms in December (November: +1.8% yoy), marking the best result since October 2018.

As a result, the merchandise trade balance improved from the previous month, recording a USD 1.1 billion surplus in December (November 2020: USD 1.0 billion surplus; December 2019: USD 1.2 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 7.7 billion surplus in December, compared to the USD 7.9 billion surplus in November.

Panelists participating in the LatinFocus Consensus Forecast project that exports will surge 16.6% in 2021 and imports will rocket 14.3%, bringing the trade surplus to USD 7.5 billion. For 2022, FocusEconomics panelists expect exports to expand 6.0%, while imports are projected to rise 7.9%, bringing the trade surplus to USD 7.3 billion.

Author:, Economist

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Peru Trade Balance Chart

Peru Trade12m December 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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