Peru reached commercial surplus of USD 2,035 million in the second quarter

Peru gained a surplus of 2,035 million dollars in the trade balance in the second quarter of 2018, 728 million more than in the same period of 2017, according to the Central Reserve Bank on Friday.

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The monetary authority said the result was "mainly explained by the higher terms of trade (expansion by 6.8%) and higher export volumes of products, in particular fishery products and non-traditional agricultural products."

The blue figures allow the Peruvian economy to accumulate eight quarters followed by a trade surplus.

In the second quarter of this year, Peruvian exports amounted to $ 12.520 million (+ 19% compared to the same period of 2017). The largest mining exports contributed mainly to profit.

The Central Bank explained that export prices showed an increase of 15.7% in the second quarter and volume increased by 2.8%.

On the other hand, imports in the second quarter of 2018 amounted to 10.485 million dollars (+ 13.8% compared to 2017).

The annualized trade balance generated a surplus of 7.863 billion dollars in the second quarter, one of the highest figures of the last six years.

Peru closed its trade balance in 2017 with a surplus of 6.266 billion dollars.

Source: AFP

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