PERU
March Trade Balance: Analysis and Economic Perspectives:
The trade balance as of March reveals a significant annual surplus, with a positive balance of 17,866 million dollars, according to the latest report from the Central Reserve Bank (BCR). In this context, the monthly analysis indicates a trade surplus of 1,499 million dollars in March, a figure that, although slightly lower by 381 million than the same period of the previous year, reflects the solidity of the country's commercial position.
The dynamics of exports in March is a highlight of the report. While exports reached $5.597 billion, reflecting a 10.1% decline compared to the same period last year, detailed analysis reveals a combination of factors, including an 11.6% drop in volumes shipped, partially offset by a 1.7% increase in price levels.
The breakdown of exports between traditional and non-traditional products reveals a similar trend of year-on-year decline. Exports of traditional products registered a drop of 9.7%, mainly attributed to lower shipments of mining and fishing products. Likewise, sales abroad of non-traditional products decreased by 11%, with the fishing, agricultural and textile sectors standing out as the most affected.
For its part, imports in March decreased by 5.7%, totaling 4,098 million dollars. This decrease is mainly attributed to the contraction of inputs associated with the reduction in prices of food and industrial inputs, as well as capital goods due to lower volumes.
Finally, the report highlights a 4.8% increase in the terms of trade in March compared to the same month of the previous year. This increase is attributed to the fall in import prices and the increase in export prices, which contributes to strengthening the country's commercial position in the international market.
