Peru: Exports expand at fastest pace in nine months
January 11, 2013
In November, the trade balance recorded a USD 147 million surplus. The print was below the USD 166 million surplus observed in the same month the previous year and market expectations, which had forecasted a trade surplus of USD 150 million. In the 12 months up to November, the trade surplus recorded USD 4.9 billion (October: USD 5.0 billion), which represents the lowest level since October 2009.
Exports recorded a 13.4% expansion compared to the same month the previous year. The reading marked the fastest growth rate since February 2012. As a result, the 12 month-sum of exports up to November increased 2.7%, which represents an improvement over the 1.6% expansion recorded in the same period ending in October.
Meanwhile, imports increased 14.8% in November, which nonetheless marks a deceleration over the 20.9% expansion recorded in October. The result prompted the moving 12-month sum of imports up to November to grow 13.4% (October: +13.5% year-on-year).
Author: Ricardo Aceves, Senior Economist