Peru: Trade surplus lower in January
March 9, 2017
In January, the Peruvian trade balance recorded a USD 150 million surplus, which was significantly below the trade surplus of USD 1.0 billion registered in December. The print still represented a robust improvement from the USD 507 deficit recorded in the same month of the previous year.
Exports increased 25.9% annually in January (December: +25.0% year-on-year), the strongest rate in five years. Exports of traditional goods—which include metals, natural gas and fish-related products—continued to fuel export growth, while some non-traditional goods such as chemicals and textiles contracted and dragged on the overall result. Meanwhile, imports fell 0.5% in January, which contrasted December’s 0.2% increase.
In the 12 months up to January, the trade surplus was USD 2.4 billion, up from December’s USD 1.7 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.