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)||-5.3||-4.7||-5.3||-2.6||-1.2|
5 years of economic forecasts for more than 30 economic indicators.
Peru Current Account Chart
Source: Peru Central Bank and FocusEconomics calculations.
|Bond Yield||5.43||-0.60 %||Oct 15|
|Exchange Rate||3.38||-0.06 %||Sep 04|
|Stock Market||19,242||-0.23 %||Sep 04|
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October 15, 2019
In August, economic activity grew 3.4% year-on-year, accelerating marginally from July’s 3.3% outturn.
October 10, 2019
At its monetary policy meeting on 10 October, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at a nine-year low of 2.50%.
October 4, 2019
Consumer prices in Metropolitan Lima inched up 0.01% over the previous month in September, following August’s 0.06% month-on-month uptick.
October 4, 2019
The business confidence indicator rose to 47.0 points in September from 45.0 points in August, which had marked the lowest print since March 2017.
October 3, 2019
Peru’s trade balance recorded a USD 99 million surplus in August, smaller than July’s USD 538 million surplus and the USD 210 million surplus recorded in the same month last year. Exports plunged 8.1% year-on-year in August (July: -0.7% year-on-year), weighed down by diving foreign sales of fishing products and of oil and natural gas, as well as by lower exports of agricultural products.