Peru: Trade surplus narrows in January
Peru’s trade balance recorded a USD 582 million surplus in January, a substantial decrease from December’s USD 1.1 billion surplus but above the USD 333 million surplus recorded in the same month of last year.
Growth in exports strengthened considerably in January, accelerating to 20.6% year-on-year from December’s 7.3% expansion. Growth came mainly on the back of a higher mining, metal-mechanical and oil shipments. Agricultural exports, on the other hand, continued to drop significantly. Meanwhile, imports rose 14.2% annually in January, above December’s 9.7% growth.
In the 12 months leading up to January, the trade surplus was USD 6.5 billion, above December’s USD 6.3 billion.