Peru: Trade surplus shrinks substantially in July
September 8, 2017
Peru’s trade balance recorded a USD 213 million surplus in July, a substantial decline from June’s USD 748 million surplus and the USD 589 million recorded in the same month of last year.
Growth in exports slowed considerably in July, plummeting to 1.4% year-on-year from June’s notable 40.9% expansion. The slowdown largely emanated from a contraction in the all-important mining sector, together with a double-digit contraction in the agricultural sector. By contrast, output in the fishing sector surged, while oil and natural gas expanded at a mild pace. Meanwhile, imports rose 15.3% annually in July, up from June’s 6.5%.
In the 12 months leading up to July, the trade surplus was USD 4.6 billion, below June’s USD 5.0 billion.
Author: Nihad Ahmed, Economist