Peru posts US$981 million trade surplus in June

RIO DE JANEIRO, BRAZIL – Exports in June totaled US$4.894 billion, up 68.2% year-on-year and 19.0% over June 2019, while imports totaled US$3.913 billion, up 73.0% over 2020 and 23.0% over June 2019, the Central Bank reported over the weekend.

The increase is “reflective of the rebound in economic activity and high metal prices,” it added.

The 12-month aggregate surplus stood at US$12.294 billion, achieving its highest level for the third consecutive month since records began, according to the Central Bank.

In the first half of the year, Peru posted a US$5.247 billion surplus, higher than in the previous two years.

Mining exports remained the driver amid higher prices of precious metals such as copper, silver and gold, of which Peru is one of the world’s largest producers.

Peru closed 2020 with a US$7.75 billion trade surplus, US$1.135 billion more than in 2019.

In June 2020, the country began to reverse April and May deficits attributed to confinement caused by the pandemic, which semi-paralyzed the economy and plunged it into recession.

The World Bank in June estimated that the Peruvian economy would grow by 10.3% in 2021, after the historic plunge of 11.12% in 2020 due to the pandemic.