Current Account in Peru
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
|Current Account (% of GDP)||-4.7||-5.0||-2.6||-1.3||-1.7|
5 years of economic forecasts for more than 30 economic indicators.
Peru Current Account Chart
Source: Peru Central Bank and FocusEconomics calculations.
|Bond Yield||0.0||-0.60 %||Nov 08|
|Exchange Rate||3.31||-0.06 %||Jan 01|
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April 3, 2020
The business confidence indicator dived from February’s 48.2 points to 21.8 points in March, amid mounting fears of a blow to the global economy from the coronavirus pandemic and associated containment measures.
April 2, 2020
Consumer prices in Metropolitan Lima jumped 0.65% over the previous month in March, up from February’s 0.14% increase.
March 19, 2020
At an extraordinary monetary policy meeting held on 19 March the Central Bank of Peru (BCRP) decided to cut the cash rate from 2.25% to 1.25%, the lowest level since early 2010, in response to the economic and financial spillovers from coronavirus (Covid-19).
March 16, 2020
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March 13, 2020
At its monetary policy meeting on 12 March, the Central Bank of Peru (BCRP) held the policy interest rate steady at 2.25%, the lowest point since July 2010, although it singled out the spread of coronavirus (Covid-19) as the main risk to global economic activity.