Peru: Trade surplus widens in November

Peru’s trade balance recorded a USD 588 million surplus in November, a substantial increase from October’s USD 297 billion surplus and from the USD 370 million surplus recorded in the same month of last year.

Growth in exports strengthened considerably in November, accelerating to 21.4% year-on-year from October’s 9.5% expansion. Growth came mainly on the back of a higher mining, fishing and oli and natural gas shipments. Agricultural exports also increased, albeit at a much slower pace. Meanwhile, imports rose 16.8% annually in November, well above October’s 12.7% growth.

In the 12 months leading up to November, the trade surplus was USD 6.2 billion, above October’s USD 6.0 billion.

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.