Peru Trade Balance July 2022

Merchandise exports fell 7.8% over the same month last year in July, on the heels of June’s 18.6% upturn. July’s figure marked the largest fall since July 2020. Meanwhile, merchandise imports jumped 20.3% on an annual basis in July (June: +28.6% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.1 billion deficit in July (June 2022: USD 0.8 billion surplus; July 2021: USD 1.1 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 14.0 billion surplus in July, compared to the USD 15.2 billion surplus in June.

LatinFocus Consensus Forecast panelists project merchandise exports to increase 6.6% in 2022, and merchandise imports to grow 7.4%, resulting in a USD 15.4 billion trade surplus. In 2023, our panel estimates merchandise exports and imports to grow 2.1% and 2.9% respectively, with a trade surplus of USD 15.4 billion.