Peru Trade Balance September 2020

Peru

Peru: Merchandise exports slide at a steeper rate in September

November 5, 2020

Merchandise exports plunged 9.8% year-on-year in September, dropping at a faster pace than August’s 5.7% fall as mining and oil exports declined sharply. Meanwhile, merchandise imports dropped 12.6% on an annual basis in September (August: -23.8% yoy), marking the best result since February 2020.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.6 billion surplus in September (August 2020: USD 1.0 billion surplus; September 2019: USD 0.6 surplus). Lastly, the trend remained broadly unchanged, with the 12-month trailing merchandise trade balance recording a USD 6.0 billion surplus in both August and September.

Panelists participating in the LatinFocus Consensus Forecast project that exports will fall 17.8% in 2020 and imports will drop 15.2%, bringing the trade surplus to USD 6.9 billion. For 2021, FocusEconomics panelists expect exports to expand 7.0%, while imports are projected to rise 7.3%, bringing the trade surplus up to USD 7.2 billion.


Author:, Economist

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Peru Trade Balance Chart


Peru Trade12m September 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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