Peru Trade October 2017


Peru: Trade surplus narrows in October

December 11, 2017

Peru’s trade balance recorded a USD 346 million surplus in October, a substantial decrease from September’s USD 1 billion surplus but not too far from the USD 363 million surplus recorded in the same month of last year.

Growth in exports slowed considerably in October, decelerating to 8.2% year-on-year from September’s impressive 32.1% expansion. Growth came mainly on the back of a higher mining, metallurgical and chemical shipments. By contrast, agricultural and fishing exports continued to drop. Meanwhile, imports rose 9.7% annually in October, well above September’s 3.6% growth.

In the 12 months leading up to October, the trade surplus was USD 6.0 billion, marginally below September’s USD 6.1 billion.

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.

Author: Massimo Bassetti, Economist

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Peru Trade Chart

Peru Trade12m October 2017

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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