Peru Records Unprecedented Trade Surplus Driven by Export Boom
(MENAFN) Peru’s trade surplus over the past 12 months soared to an unprecedented $26.71 billion as of April, according to data released Saturday by the Central Reserve Bank of Peru.
The nation posted a $1.33 billion trade surplus in April alone, reflecting a $503 million boost compared to the same month last year.
April exports reached $5.80 billion, climbing 12.4% year-over-year. This growth was primarily driven by a 10.6% rise in average export prices, accompanied by a 1.5% increase in export volumes, the bank noted in its statement.
Traditional exports generated $4.1 billion, marking a 4% year-over-year increase. This growth stemmed from elevated prices for metals and coffee, alongside expanded shipments of fishmeal and fish oil.
Meanwhile, non-traditional exports surged dramatically by 40.3%, totaling $1.69 billion. This jump was fueled by a 42.6% increase in export volume, especially within fisheries and agriculture.
On the import side, April saw $4.47 billion in goods brought into the country, a 3.1% rise influenced by higher spending on consumer and capital goods.
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