LIMA, Feb 10 (NNN-ANDINA) — Peru’s trade balance registered a US$7.049 billion surplus in 2018, the highest figure since 2011, thus maintaining the positive trend witnessed for three years in a row, Central Reserve Bank (BCR) reported.
“In 2018, exports totaled US$48.942 billion. A historic amount that confirmed the upward trend over the last three years, thus marking an 8.1% increase compared to 2017,” it expressed.
“That was underpinned by higher export volumes (1.5%) and price (6.5%),” BCR added.
According to the issuing entity, traditional exports‘ average price rose (8%) last year, mainly zinc, oil derivatives, and fish flour.
“While non-traditional export volumes posted an 11% expansion, driven by greater shipments of agricultural, fishery, and chemical products,” it indicated.
Likewise, BCR pointed out imports totaled US$41.893 billion, an 8.2% increase compared to 2017.
This result was boosted by greater purchases of inputs (+14.8%), as well as capital (+2.9%) and consumer goods (+2.8%).
Meanwhile, BCR latest monthly survey revealed that some of the business expectation indicators for the next three months improved in January 2019 but all of them remained in optimistic territory, due to the economy’s recovery in the fourth quarter of last year.
In December 2018, Peru’s trade balance posted a US$1.076 billion surplus. Exports amounted to US$4.227 billion, while imports reached US$3.152 billion.
Likewise, most current situation indicators improved compared to the previous month.
“This (the economic recovery in the fourth quarter of 2018) has resulted in favorable business expectations,” BCR Economic Studies Central Manager Adrian Armas expressed.
Furthermore, company situation, product demand, and personnel recruitment indicators for the next three months saw a recovery.
Company situation expectations for the next three months increased from 58.9 in December 2018 to 60.6 points, while the 12-month indicator remained at 70.9 points. — NNN-ANDINA
