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.
Author: Stephen Vogado, Economist