on Thursday projected that exports would reach a historic record of US$118.171 billion by the end of this year, surpassing the US$90.082 billion registered in 2025.
"That is our estimate (for this year), with imports of nearly US$69 billion," BCR Governor Julio Velarde said during the presentation of the June Inflation Report. Given this result, the trade balance would post a surplus exceeding US$49 billion.
For 2027, the BCR forecast that exports will continue their growth trajectory, reaching another all-time high of US$120.758 billion. Meanwhile, imports are projected at US$72.431 billion, resulting in a trade surplus of more than US$48 billion.
Peruvian exports to surpass US$120 billion in 2027
Annual trend in Peruvian exports (US$ million)
2019: 47,995
2020: 42,822
2021: 63,114
2022: 66,339
2023: 66,963
2024: 76,357
2025: 93,993
2026*: 118,171
2027*: 120,758
*Central Reserve Bank (BCR) projection.
Source: Central Reserve Bank (BCR). Prepared in-house.
These results would be driven by an improvement in the terms of trade—which compare the prices of a country's exports with those of its imports—as they are projected to close 2026 with a positive variation of 18.3%, supported by a 25.6% increase in export prices.
"The terms of trade are at an exceptional level. We truly have the highest prices in the last 76 years. They are giving a very strong boost to our exports," Velarde noted.
"We have the best terms of trade. We are breaking all trade surplus records," he pointed out.
Traditional and non-traditional exports
The BCR's export projection also represents an upward revision.
In March this year, the central bank had estimated that Peruvian exports would total US$98.701 billion by the end of 2026.
In disaggregated figures, traditional exports—which include minimally processed products such as minerals, oil, natural gas, and fishmeal—would amount to US$93.606 billion.
Meanwhile, non-traditional exports—consisting of higher value-added and more diversified goods, such as agro-industrial products, textiles, and chemicals—would total US$24.244 billion.