Peru: Merchandise exports soar at stratospheric pace in April
June 3, 2021
Merchandise exports surged 136.3% over the same month last year in April, accelerating from March’s 57.1% upturn and marking the strongest increase in at least 30 years. April’s reading was in part influenced by a low base effect, with April 2020 marking the nadir of the pandemic. Meanwhile, merchandise imports shot up 71.0% in annual terms in April (March: +53.4% yoy), marking the best result since June 2008.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.4 billion surplus in April (March 2021: USD 0.5 billion surplus; April 2020: USD 0.5 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 10.1 billion surplus in April, compared to the USD 9.2 billion surplus in March.
Author: Stephen Vogado, Economist