The terms of trade —an indicator that shows the relationship between export and import prices— grew 13.9% in Peru last May compared to the same month in 2023, the
"This progress was favored by greater increase in export prices of 14.1% compared to import prices, which improved by 0.1%," the BCR stated.
The issuing entity indicated that export prices increased mainly due to higher prices of gold (+18%), copper (+15.8%), and non-traditional agricultural products (+24%).
"Meanwhile, import prices were driven by higher prices of capital goods, which were offset by lower prices of consumer goods, industrial inputs, and food intended as inputs," it indicated.
Compared to April 2024, terms of trade increased 3.8%. Export prices grew 4.3% in May compared to the previous month, mainly due to higher prices of copper, gold, and hydrocarbons.
For their part, import prices rose 0.4%, mainly due to the increase in the prices of inputs between April and May 2024.