Peru: Merchandise exports increase at a softer rate in November
January 7, 2021
Merchandise exports edged up 2.4% in annual terms in November (October: +9.9% year-on-year) marking the third consecutive month of growth. Meanwhile, merchandise imports increased 1.5% in annual terms in November (October: -12.9% yoy), marking the best result and first positive print since January 2020.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.8 billion surplus in November (October 2020: USD 1.3 billion surplus; November 2019: USD 0.7 billion surplus). However, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 7.5 billion surplus in November, compared to the USD 7.5 billion surplus in October.
Author: Stephen Vogado, Economist