Peru: Merchandise exports rise at a softer rate in October
Merchandise exports grew 21.1% on an annual basis in October, slowing from September’s 33.1% rise. While, October’s reading marked the softest expansion since January, it was still the 14th consecutive month of rising exports. Meanwhile, merchandise imports soared 31.0% on an annual basis in October (September: +40.9% yoy), marking the mildest growth since February 2021.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.4 billion surplus in October (September 2021: USD 1.6 billion surplus; October 2020: USD 1.4 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 13.7 billion surplus in October, compared to the USD 13.7 billion surplus in September.