Current Account in Peru

Peru Current Account | Economic News & Forecasts

Peru - Current Account

Current account deficit shrinks in the final quarter of 2010

In the fourth quarter, the current account registered a deficit of USD 531 million (equivalent to 1.4% of GDP), which represented an improvement compared to the USD 889 million deficit (2.3% of GDP) observed in the third quarter. The fourth quarter reading mainly reflected a larger trade surplus, which widened from USD 1.5 billion in the third quarter to USD 2.1 billion in the fourth, as a result of slowing growth in imports. On an annual basis, exports grew 23.8% in the fourth quarter (Q3: +29.6% year-on-year), while imports decelerated from a 46.6% expansion in the third quarter to a 34.9% increase in the fourth. In addition, the current transfers balance improved compared to the third quarter, on the back of higher remittances from workers from abroad. In the full year 2010, the current account incurred a deficit of USD 2.3 billion (equivalent to 1.5% of GDP), fuelled by increasing imports of goods and services, which were buoyed by strong domestic demand. The reading contrasted the surplus of USD 0.2 billion (equivalent to 0.2% of the GDP) tallied in 2009. The Central Bank expects the current account will post a deficit of 3.1% of GDP this year, before shrinking further to a deficit of 3.2% for 2012.

Peru - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-4.6  -4.4  -4.8  -2.7  -1.3  

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Peru Current Account Chart


Peru Current Account
Note: Current account balance as % of GDP.
Source: Peru Central Bank and FocusEconomics calculations.

Peru Facts

ValueChangeDate
Bond Yield5.43-0.60 %Oct 15
Exchange Rate3.30-0.06 %Mar 20
Stock Market21,195-0.23 %Mar 20

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