Peru: Trade surplus at seven-month low in May
Peru’s trade balance recorded a USD 29 million surplus in May, narrowing from April’s USD 251 million surplus as well as from the USD 580 million surplus recorded in the same month of last year.
Exports nosedived 15.5% year-on-year in May, due to both lower prices and quantities, following April’s much softer 2.2% dip. Lower foreign sales of mining and agricultural products, a significant fall in exports of oil and natural gas, and a sharp plunge in sales of fishing products abroad were behind the negative result. Meanwhile, imports contracted 2.9% annually in May, contrasting April’s anemic 0.2% uptick, dragged down by lower purchases of durable consumer goods and fuels.
In the 12 months leading up to May, the trade surplus was USD 5.9 billion, below April’s USD 6.4 billion surplus and the weakest reading since August 2017.