Peru Trade Balance November 2020


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.

Panelists participating in the LatinFocus Consensus Forecast project that exports will surge 17.4% in 2021 and imports will rocket 15.0%, bringing the trade surplus to USD 6.9 billion. For 2022, FocusEconomics panelists expect exports to expand 6.6%, while imports are projected to rise 9.0%, bringing the trade surplus to USD 6.5 billion.

Author:, Economist

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Peru Trade Balance Chart

Peru Trade12m November 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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