Peru Trade January 2019


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.

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, Senior Economist

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Peru Trade Chart

Peru Trade12m January 2019

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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