Peru: Trade surplus narrows further in February on dwindling exports
Peru’s trade balance recorded a USD 326 million surplus in February, narrowing from January’s USD 449 million surplus and also lower than the USD 552 million surplus recorded in the same month of last year.
Exports declined 3.8% year-on-year in February, due to a drop in prices, following January’s sharper 4.1% fall. A notable drop in foreign sales of mining products more than offset higher exports of fishing products. Meanwhile, imports rose 2.8% annually in February, accelerating from January’s 1.9% rise, mainly fueled by higher purchases of capital goods.
In the 12 months leading up to February, the trade surplus was USD 6.6 billion, below January’s USD 6.8 billion and the weakest reading in over one year.