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)||-5.0||-2.6||-1.3||-1.7||-1.5|
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|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
September 20, 2022
Merchandise exports fell 7.8% over the same month last year in July, on the heels of June’s 18.6% upturn.
September 16, 2022
Economic activity rose 1.4% compared to the same month a year earlier in July, which followed June's 3.4% increase.
September 9, 2022
At its 8 September meeting, the Central Bank of Peru raised its key policy interest rate by 25 basis points to 6.75%, bringing the cumulative increase for the year to 425 basis points. The Bank continued to normalize its stance in order to rein in elevated inflation and inflation expectations.
September 8, 2022
Consumer prices increased 0.67% over the previous month in August, slowing from the 0.94% increase seen in July.
August 25, 2022
GDP growth waned to 3.3% year on year in the second quarter, from 3.8% in the first quarter.