Peru: Trade surplus widens further in December
February 9, 2018
Peru’s trade balance recorded a USD 1.1 billion surplus in December, a substantial increase from November’s USD 588 million surplus and matching the USD 1.1 billion surplus recorded in the same month of last year.
Growth in exports moderated considerably in December, decelerating to 7.3% year-on-year from November’s 21.4% expansion. Growth came mainly on the back of a higher mining, metal-mechanical and oil shipments. Agricultural exports, on the other hand, dropped significantly. Meanwhile, imports rose 9.7% annually in December, well below November’s 16.8% growth.
In the 12 months leading up to December, the trade surplus was USD 6.3 billion, above November’s USD 6.2 billion and more than tripling the USD 1.9 billion recorded in full-year 2016.
Peru Trade Balance Forecast
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.