Peru Trade February 2017


Peru: Trade surplus increases in February

April 6, 2017

In February, Peru's trade balance recorded a USD 741 million surplus, which was a strong increase from the trade surplus of USD 288 million registered in January. The print also represented a robust improvement from the USD 131 million deficit recorded in the same month of the previous year.

Exports increased 45.8% annually in February (January: +31.4% year-on-year), the strongest rate in five and a half years. Exports of traditional goods—which include metals, natural gas and fish-related products—continued to fuel export growth. Meanwhile, imports grew 9.8% in February, which contrasted January’s 0.5% drop and was the strongest rise since April 2013.

In the 12 months up to February, the trade surplus was USD 3.6 billion, up from January’s USD 2.7 billion surplus. Remarkable growth in exports of traditional Peruvian goods lifted the trade balance from a record USD 3.2 billion deficit in January 2016 to a surplus not seen since April 2013.

Panelists participating in the LatinFocus Consensus Forecast see exports growing 8.3% in 2017 and the trade balance recording a surplus of USD 2.3 billion. For 2018, the panel sees overseas sales expanding 5.4% and a trade surplus of USD 2.5 billion.

Author: Marlène Rump, Senior Data Analyst

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Peru Trade Chart

Peru Trade12m February 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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