Peru: Trade surplus widens in March
May 11, 2018
Peru’s trade balance recorded a USD 591 million surplus in March, widening from February’s USD 514 million surplus and a substantial increase from the USD 113 million surplus recorded in the same month of last year.
Growth in exports jumped in March, rising to a strong 24.6% year-on-year expansion from February’s meagre 1.6% increase. Growth came mainly on the back of soaring overseas sales of copper, gold, zinc and crude oil as well as of non-metallic minerals and iron and steel products. Fishing exports, on the other hand, continued to decline, although at a much softer pace than in February. Meanwhile, imports rose 10.5% annually in March, slightly above February’s 9.5% growth.
In the 12 months leading up to March, the trade surplus was USD 6.8 billion, above February’s USD 6.3 billion and the highest reading since August 2012.
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.