Peru Trade September 2019

Peru

Peru: Trade surplus widens in September as contraction in exports eases

November 7, 2019

Peru’s trade balance recorded a USD 462 million surplus in September, larger than August’s USD 139 million surplus but smaller than the USD 514 million surplus recorded in the same month last year.

Exports declined 1.4% year-on-year in September (August: -7.4% year-on-year), weighed down by diving foreign sales of fishing products and of oil and natural gas, only partially offset by higher exports of agricultural products. Meanwhile, imports dipped 0.1% annually in September, a softer contraction than August’s 5.9% slump, as decreasing purchases of intermediate goods more than offset higher capital imports.

In the 12 months leading up to September, the trade surplus was USD 5.6 billion, below August’s USD 5.7 billion surplus and the lowest reading in over two years.

Panelists participating in the LatinFocus Consensus Forecast see exports rising 5.2% in 2020 and the trade balance recording a surplus of USD 5.6 billion. For 2021, the panel sees overseas sales expanding 6.3% and forecasts a trade surplus of USD 5.8 billion.


Author: Massimo Bassetti, Economist

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Peru Trade12m September 2019 0

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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