Peru Trade August 2018


Peru: Trade surplus narrows in August, on lower commodity exports

October 5, 2018

Peru’s trade balance recorded a USD 173 million surplus in August, the lowest print in over one year, narrowing from July’s USD 536 million surplus as well as from the USD 532 million surplus recorded in the same month of last year.

Exports declined 0.8% year-on-year in August, contrasting July’s strong 18.7% increase. The slight contraction was mainly due to notable declines in exports of gold, lead and natural gas—which were only partially offset by significant expansions in the sales of agricultural, fishing, textiles and chemical products—with exports to the EU and Mercosur recording noteworthy contractions. Meanwhile, imports rose 9.4% annually in August, on soaring purchases of fuels and lubricants, but slightly below July’s 10.5% growth.

In the 12 months leading up to August, the trade surplus was USD 7.8 billion, below July’s USD 8.2 billion and the lowest reading in 3 months.

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 a trade surplus of USD 4.1 billion.

Author: Massimo Bassetti, Senior Economist

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Peru Trade Chart

Peru Trade12m August 2018

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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