Peru Trade February 2019

Peru

Peru: Trade surplus narrows further in February on dwindling exports

April 5, 2019

Peru’s trade balance recorded a USD 326 million surplus in February, narrowing from January’s USD 449 million surplus and also lower than the USD 552 million surplus recorded in the same month of last year.

Exports declined 3.8% year-on-year in February, due to a drop in prices, following January’s sharper 4.1% fall. A notable drop in foreign sales of mining products more than offset higher exports of fishing products. Meanwhile, imports rose 2.8% annually in February, accelerating from January’s 1.9% rise, mainly fueled by higher purchases of capital goods.

In the 12 months leading up to February, the trade surplus was USD 6.6 billion, below January’s USD 6.8 billion and the weakest reading in over one year.

Panelists participating in the LatinFocus Consensus Forecast see exports growing 5.1% in 2019 and the trade balance recording a surplus of USD 5.0 billion. For 2020, the panel sees overseas sales expanding 4.8% and a trade surplus of USD 4.5 billion.


Author: Massimo Bassetti, Economist

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Peru Trade Chart


Peru Trade12m February 2019 0

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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