Peru: Trade surplus swells further in November
January 6, 2017
In November, the trade balance recorded a USD 278.6 million surplus, which was below the trade surplus of USD 335.1 million registered in October but a notable upswing from the USD 325.3 million deficit recorded in the same month of the previous year.
The Central Bank reported that exports had increased 13.4% annually in November (October: +14.3% year-on-year). Exports of traditional goods—which include metals, natural gas and coffee—recorded strong growth and were the main driver of the expansion in exports overall. Meanwhile, imports contracted 6.7% in November, which contrasted October’s 2.5% expansion.
In the 12 months up to November, the trade surplus was USD 0.8 billion, up from October’s USD 0.2 billion surplus. 2016 started with a record deficit of USD 3.2 billion in January, but strong growth in exports of traditional Peruvian goods lifted the trade balance to a surplus in October. In November, the 12-month sum of the trade recorded the second consecutive surplus after over two-and-a-half years of deficits.