LatinFocus highlights Peru’s May trade surplus

Peru’s trade balance recorded a US$458 million surplus in May, widening from April’s US$398-million surplus, as well as from the US$363-million surplus recorded in the same month last year, LatinFocus’ Consensus Forecast report recalled.

“Growth in exports remained robust in May, coming in at 16.4% year-on-year expansion from April’s strong 23.0% increase. Growth came mainly on the back of soaring overseas sales of copper, gold, and natural gas, as well as of petroleum products,” it expressed.

Higher exports of fishery, agricultural, chemical, and textile products also contributed to the expansion.

Behind the positive result was an increase in the price of Peru’s exports, while volumes remained virtually unchanged.

Meanwhile, imports rose 15.3% annually in May, on higher purchases of fuels, transport equipment, and capital goods for the agriculture sector. Said rate was slightly below April’s 16.0% growth.

In the 12 months leading up to May, trade surplus was US$7.2 billion, above April’s US$7.1 billion and the highest reading since July 2012.

Panelists participating in the LatinFocus Consensus Forecast see exports growing 9.8% in 2018, and the trade balance recording a surplus of US$7.5 billion.

For 2019, the panel sees overseas sales expanding by 5.4% and also forecasts a trade surplus of US$7.5 billion.



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