Peru Trade Balance March 2022


Peru: Merchandise exports grow at a more moderate pace in March

May 13, 2022

Merchandise exports jumped 24.1% over the same month last year in March (February: +28.5% year-on-year). Meanwhile, merchandise imports climbed 17.0% in annual terms in March (February: +14.4% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.1 billion surplus in March (February 2022: USD 1.7 billion surplus; March 2021: USD 0.6 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 15.9 billion surplus in March, compared to the USD 15.5 billion surplus in February.

LatinFocus Consensus Forecast panelists project merchandise exports to increase 2.7% in 2022, and merchandise imports to grow 5.1%, resulting in a USD 14.0 billion trade surplus. In 2023, our panel estimates merchandise exports and imports to grow 3.1% and 4.1% respectively, with a trade surplus of USD 14.0 billion.


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Peru Trade Balance Chart

Peru Trade12m March 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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