Peru: Merchandise exports gain steam in July
Latest reading: Merchandise exports soared 31.9% over the same month last year in July (June: +12.3% year-on-year). July’s outturn marked the most robust outturn since November 2021, and was driven by higher export volumes and prices. In particular, July saw higher export volumes of fish, coffee, gold and hydrocarbons. Meanwhile, merchandise imports soared 12.2% on an annual basis in July (June: -5.8% yoy), marking the strongest reading since September 2022.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.3 billion surplus in July (June 2024: USD 2.5 billion surplus; July 2023: USD 1.1 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 19.9 billion surplus in July, compared to the USD 18.7 billion surplus in June.