Peru Trade Balance October 2020

Peru

Peru: Merchandise exports surge in October

December 10, 2020

Merchandise exports jumped 8.3% annually in October, on the heels of September’s 5.5% rise. October’s reading marked the strongest increase since July 2018. Meanwhile, merchandise imports plunged 13.3% in annual terms in October (September: -12.3% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 1.3 billion surplus in October (September 2020: USD 1.2 billion surplus; October 2019: USD 0.4 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 7.4 billion surplus in October, compared to the USD 6.5 billion surplus in September.

Panelists participating in the LatinFocus Consensus Forecast project that exports will surge 17.4% in 2021 and imports will rocket 15.0%, bringing the trade surplus to USD 6.9 billion. For 2022, FocusEconomics panelists expect exports to expand 6.6%, while imports are projected to rise 9.0%, bringing the trade surplus to USD 6.5 billion.


Author:, Economist

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Peru Trade Balance Chart


Peru Trade12m October 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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