Peru Trade April 2019

Peru

Peru: Trade surplus at six-month low in April

June 7, 2019

Peru’s trade balance recorded a USD 259 million surplus in April, narrowing from March’s USD 471 million surplus as well as from the USD 340 million surplus recorded in the same month of last year.

Exports dipped 2.3% year-on-year in April, due to lower prices more than offsetting higher quantities, following March’s much sharper 10.7% plunge. Lower foreign sales of mining products, and oil and natural gas more than offset surging exports of fishing products. Tensions at Las Bambas mine continued to disrupt mining activity. Meanwhile, imports contracted 0.2% annually in April, a much softer decline than March’s 7.2% contraction, dragged down by lower purchases of consumer goods and transport equipment.

In the 12 months leading up to April, the trade surplus was USD 6.4 billion, below March’s USD 6.5 billion surplus and the weakest reading in one-and-a-half years.

Panelists participating in the LatinFocus Consensus Forecast see exports growing 5.1% in 2019 and the trade balance recording a surplus of USD 5.0 billion. For 2020, the panel sees overseas sales expanding 4.8% and a trade surplus of USD 4.5 billion.


Author: Massimo Bassetti, Economist

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Peru Trade Chart


Peru Trade12m April 2019

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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