Peru records trade surplus for two consecutive months in July 2020, after two months (April and May) of deficit due to the impact of the health emergency caused by COVID-19, according to figures from the
Central Reserve Bank (BCR).
In May, the trade balance showed a deficit of US$224 million, while in April a deficit of US$481 million. Both results were directly attributable to the coronavirus health crisis.
Pre-COVID-19 levels
However, between June and July, the country's trade balance resumed its surplus trend, that is, it reached its pre-COVID-19 levels.
For instance, the trade balance showed a US$294 million surplus in January, a US$593 million surplus in February, and a US$194 million surplus in March.
Better prices
The July surplus was driven by exports of primary products due to a rapid recovery in the prices of raw materials, with copper standing out among this group.
Moreover, it must be borne in mind that the most exports were made in the second half of the year, according to specialists.
(END) SDD/JJN/RMB/MVB
Published: 9/7/2020