Peru's trade balance recorded a US$636 million surplus in September and, in year-on-year terms as of September, accumulated a surplus of US$6 billion, the same as that registered in the previous month, the Central Reserve Bank (BCR)
reported on Thursday.
According to the issuing entity, exports in September amounted to US$3.590 billion, down US$122 million over the previous month, due to lower shipments of traditional products, and down 9.8% compared to the same month in 2019.
The BCR stated that traditional exports saw a 15.9% decline, mainly due to mining products, and that non-traditional shipments
increased 5.5%, due to higher sales of farming and chemical products.
It should be noted that, in August and September this year, copper exports have been calculated on the basis of production levels, in the case of companies that —although they record exports— have not yet been included in the export registry.
On the other hand, imports totaled US$2.953 billion in September, up US$194 million compared to August, due to higher purchases of industrial supplies.
Moreover, imports in September declined 12.6% when compared to the same month in 2019, mainly due to lower purchases of inputs –especially fuels– durable consumer goods, and capital goods.
In September, Peru's terms of trade registered an increase of 8.9% over the same month in 2019, underpinned by higher export prices (up 3.7%) and lower import prices (down 4.8%).