Peru: Trade surplus narrows in April but exports continue to rise strongly
June 8, 2018
Peru’s trade balance recorded a USD 398 million surplus in April, narrowing from March’s USD 616 million surplus but a substantial increase from the USD 154 million surplus recorded in the same month of last year.
Growth in exports remained robust in April, coming in at 23.0% year-on-year expansion from March’s strong 25.5% increase. Growth came mainly on the back of soaring overseas sales of copper, zinc and natural gas as well as of non-metallic minerals and iron and steel products. Traditional fishing exports, on the other hand, continued to decline. Meanwhile, imports rose 16.0% annually in April, on higher purchases of raw materials for industry and transport equipment, above March’s 10.6% growth.
In the 12 months leading up to April, the trade surplus was USD 7.1 billion, above March’s USD 6.8 billion and the highest reading since July 2012.
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.
