Peru: Trade surplus narrows further in February
April 9, 2018
Peru’s trade balance recorded a USD 461 million surplus in February, a substantial decrease from January’s USD 615 million surplus and well below the USD 727 million surplus recorded in the same month of last year.
Growth in exports weakened considerably in February, falling to a meagre 0.2% year-on-year from January’s 21.6% expansion. Growth came mainly on the back of a higher chemical and metallurgical shipments. Fishing exports, on the other hand, plunged. Meanwhile, imports rose 9.6% annually in February, below January’s 14.5% growth.
In the 12 months leading up to February, the trade surplus was USD 6.3 billion, below January’s USD 6.5 billion.
Peru Trade Balance Forecast
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.