Peru Trade Balance November 2021

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Peru: Merchandise exports growth increases in November, trade balance widens

January 14, 2022

Merchandise exports jumped 43.1% on an annual basis in November, rising from October’s 21.8% increase. As such, November’s reading marked a three-month high and was the 15th consecutive month of rising exports. Meanwhile, merchandise imports rose 25.2% on an annual basis in November (October: +32.0% yoy), marking the mildest growth since February 2021.

As a result, the merchandise trade balance improved from the previous month, recording a USD 2.0 billion surplus in November (October 2021: USD 1.4 billion surplus; November 2020: USD 1.0 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 14.4 billion surplus in November, compared to the USD 13.3 billion surplus in October.

Panelists participating in the LatinFocus Consensus Forecast project that exports will grow 4.3% in 2022 and imports will rise 4.0%, bringing the trade surplus to USD 12.9 billion. For 2023, FocusEconomics panelists expect exports to expand 4.1%, while imports are projected to rise 6.1%, bringing the trade surplus to USD 12.4 billion.


Author:, Economist

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Peru Trade Balance Chart


Peru Trade12m November 2021

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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