Peru's trade balance recorded a US$489 million surplus last July, down considerably from June's result, but more than double the surplus recorded in July 2017, the latest FocusEconomics' LatinFocus Consensus Forecast report highlighted.
According to FocusEconomics, growth came mainly on the back of soaring overseas shipments of
copper,
zinc, natural gas, and petroleum products.
It went on to add a significant increase in exports of
fishery products also contributed to the expansion.
Behind the positive result was a solid increase in both the price and volumes of
Peru's exports.
Imports
Meanwhile, imports rose 10.5% annually in July, largely on the back of higher purchases of fuels and raw materials for the industrial sector, it noted.
The figure for imports last July was slightly above June's growth.
In the 12 months leading up to July, the
trade surplus was US$8.2 billion, above June's US$8 billion and the highest reading since June 2012.
Panelists participating in the LatinFocus Consensus Forecast see
exports growing 9.8% in 2018, and the trade balance
recording a surplus of US$7.4 billion.
For 2019, the panel sees overseas sales expanding 5.3% and forecasts a trade surplus of US$7.3 billion.