Peru: Trade surplus continues to soar in June
August 3, 2017
Peru’s trade balance recorded a USD 582 million surplus in June, far exceeding May’s USD 320 million surplus and a rebound from the USD 185 million trade deficit recorded in the same month of last year.
Exports rose an impressive 35.0% year-on-year in June, up from the 23.1% rise in May. Higher sales of traditional products-notably copper, fish meal, zinc, petroleum derivatives and natural gas-drove the positive result. An expansion in non-traditional exports also made a contribution, primarily led by agricultural shipments. Meanwhile, annual growth in imports slowed to 6.5%, down by more than half from May’s 15.6% increase.
In the 12 months up to June, the trade surplus was USD 4.8 billion, exceeding May’s USD 4.0 billion.
Author: Nihad Ahmed, Economist