Peru Trade August 2017

Peru

Peru: Trade surplus widens substantially in August

October 6, 2017

Peru’s trade balance recorded a USD 433 million surplus in August, a substantial increase from July’s USD 220 million surplus and almost quintupling the USD 90 million surplus recorded in the same month of last year.



Growth in exports quickened considerably in August, accelerating to 20.4% year-on-year from July’s weak 1.9% expansion. Growth came mainly on the back of a strong expansion in mining exports—especially gold and copper—as well as of a jump in exports of metal mechanical products. By contrast, agricultural and fishingexports dropped. Meanwhile, imports rose 10.1% annually in August, down from July’s 15.7% growth.



In the 12 months leading up to August, the trade surplus was USD 5.0 billion, above July’s USD 4.7 billion.

Panelists participating in the LatinFocus Consensus Forecast see exports growing 13.4% in 2017 and the trade balance recording a surplus of USD 4.5 billion. For 2018, the panel sees overseas sales expanding 5.1% and forecasts a trade surplus of USD 4.3 billion.


Author: Massimo Bassetti, Economist

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Peru Trade Chart


Peru Trade12m August 2017

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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