Peru: Trade surplus narrows in January
March 9, 2018
Peru’s trade balance recorded a USD 582 million surplus in January, a substantial decrease from December’s USD 1.1 billion surplus but above the USD 333 million surplus recorded in the same month of last year.
Growth in exports strengthened considerably in January, accelerating to 20.6% year-on-year from December’s 7.3% expansion. Growth came mainly on the back of a higher mining, metal-mechanical and oil shipments. Agricultural exports, on the other hand, continued to drop significantly. Meanwhile, imports rose 14.2% annually in January, above December’s 9.7% growth.
In the 12 months leading up to January, the trade surplus was USD 6.5 billion, above December’s USD 6.3 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.