Peru Trade November 2016

Peru

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.

Panelists participating in the LatinFocus Consensus Forecast see exports growing 8.9% in 2017 and the trade balance recording a surplus of USD 0.5 billion. For 2018, the panel sees overseas sales expanding 6.2%.


Author: Marlène Rump, Senior Data Analyst

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Peru Trade Chart


Peru Trade12m November 2016

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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