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||3.30||-0.06 %||Jul 31|
|Stock Market||19,957||-0.23 %||Jul 31|
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.
August 15, 2019
In June, economic activity grew 2.6% year-on-year, above May’s 0.6% lackluster outturn.
August 9, 2019
The business confidence indicator fell to 49.0 points in July from 49.8 points in June, the lowest print in 28 months.
August 8, 2019
Peru’s trade balance recorded a USD 802 million surplus in June (May: USD 79 million surplus), the highest print in six months, although came below the USD 1,170 million surplus recorded in the same month last year. Exports fell 12.2% year-on-year in June, due to both lower prices and quantities, following May’s stronger 14.4% drop.
August 8, 2019
At its monetary policy meeting on 8 August, the Central Bank of Peru (BCRP) slashed the policy interest rate by 25 basis points to a nine-year low of 2.50%, broadly in line with analysts’ expectations.
August 8, 2019
Consumer prices rose 0.20% over the previous month in July, contrasting June’s 0.09% month-on-month fall.