Peru's trade balance posted a US$6.266 billion surplus in 2017 —the highest in five years— mostly explained by greater foreign sales of traditional products (+26.7%), the Central Reserve Bank (BCR) reported.
According to the issuing entity, Peruvian exports totaled US$44.918 billion in 2017, up by 21.3% from the previous year.
Said growth was underpinned by the higher average volume of traditional exports (+8%), mainly of fish meal, copper, gold, zinc, and petroleum derivatives.
Similarly, the non-traditional export volume increased 7% due to greater shipments of farming, textile, fishery, and iron-steel products.
On the other hand, imports amounted to US$38.652 billion last year, a 10% rise compared to 2016, boosted by greater consumer good (+8.4%) and input (+18.6%) purchases.
BCR also informed the country's trade balance posted a US$1.081 billion surplus in December 2017.
This figure is the highest since December 2011 and marks 18 straight months of positive performance.
In the analyzed month, exports reached US$4.394 billion, up by 7.3% over the same period in 2016, whereas imports totaled US$3.317 billion (+9.7%).