Peru: Trade surplus widens in March
Peru’s trade balance recorded a USD 591 million surplus in March, widening from February’s USD 514 million surplus and a substantial increase from the USD 113 million surplus recorded in the same month of last year.
Growth in exports jumped in March, rising to a strong 24.6% year-on-year expansion from February’s meagre 1.6% increase. Growth came mainly on the back of soaring overseas sales of copper, gold, zinc and crude oil as well as of non-metallic minerals and iron and steel products. Fishing exports, on the other hand, continued to decline, although at a much softer pace than in February. Meanwhile, imports rose 10.5% annually in March, slightly above February’s 9.5% growth.
In the 12 months leading up to March, the trade surplus was USD 6.8 billion, above February’s USD 6.3 billion and the highest reading since August 2012.