Peru Trade Balance April 2021

Peru

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.

Panelists participating in the LatinFocus Consensus Forecast project that exports will surge 19.5% in 2021 and imports will rocket 15.1%, bringing the trade surplus to USD 10.7 billion. For 2022, FocusEconomics panelists expect exports to expand 5.1%, while imports are projected to rise 6.5%, bringing the trade surplus to USD 10.8 billion.


Author:, Economist

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Peru Trade Balance Chart


Peru Trade12m April 2021 0

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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