Peru Trade November 2019


Peru: Exports back in the red in November

January 10, 2020

Peru’s trade balance recorded a USD 669 million surplus in November, larger than October’s USD 416 million surplus but smaller than the USD 739 million deficit recorded in the same month last year.

Exports fell 6.4% year-on-year in November (October: +3.4% year-on-year), weighed down by plunging foreign sales of mining products and of oil and natural gas, only partially offset by surging exports of fishing products. Meanwhile, imports fell 5.7% annually in November, following October’s 7.6% plummet, as diving purchases of consumer and intermediate goods more than somewhat offset somewhat higher capital goods imports.

In the 12 months leading up to November, the trade surplus was USD 6.1 billion, matching October’s print.

Panelists participating in the LatinFocus Consensus Forecast see exports rising 5.2% in 2020 and the trade balance recording a surplus of USD 5.6 billion. For 2021, the panel sees overseas sales expanding 6.3% and forecasts a trade surplus of USD 5.8 billion.

Author: Massimo Bassetti, Economist

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Peru Trade Chart

Peru Trade12m November 2019 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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