Peru: Trade surplus narrows in January on falling exports
March 8, 2019
Peru’s trade balance recorded a USD 374 million surplus in January, narrowing from December’s USD 1.1 billion surplus and lower than the USD 684 million surplus recorded in the same month of last year.
Exports declined 6.2% year-on-year in January, following December’s sharper 7.4% fall. A notable drop in foreign sales of mining products as well as a plunge in exports of oil and natural gas were chiefly behind the contraction. Meanwhile, imports rose 1.6% annually in January, contrasting December’s 5.3% contraction, fueled by higher purchases of capital and consumer goods.
In the 12 months leading up to January, the trade surplus was USD 6.7 billion, below December’s USD 7.1 billion and the weakest reading in close to one year.