Peru Trade September 2017


Peru: Trade surplus continues to widen in September

November 10, 2017

Peru’s trade balance recorded a USD 961 million surplus in September, a substantial increase from August’s USD 521 million surplus and much bigger than the USD 71 million surplus recorded in the same month of last year.

Growth in exports quickened considerably in September, accelerating to 30.8% year-on-year from August’s already remarkable 22.9% expansion. Growth came mainly on the back of a surge in mining exports—especially gold, zinc and copper—as well as a jump in exports of both textiles and metal mechanical products. By contrast, agricultural and fishing exports continued to drop. Meanwhile, imports rose 3.5% annually in September, down from August’s 10.3% growth.

In the 12 months leading up to September, the trade surplus was USD 6.0 billion, above August’s USD 5.1 billion.

Panelists participating in the LatinFocus Consensus Forecast see exports growing 5.7% in 2018 and the trade balance recording a surplus of USD 4.3 billion. For 2019, the panel sees overseas sales expanding 5.1% and forecasts a trade surplus of USD 4.1 billion.

Author: Massimo Bassetti, Economist

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Peru Trade Chart

Peru Trade12m September 2017

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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