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BCRP: trade surplus reached US $ 1,590 million in September

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According to the Central Reserve Bank (BCRP), the surplus September was US $ 1,590 million, US $ 961 million higher than that registered in the same month of 2019 and 78 million higher than that of the same period of 2020, the year in which the Peruvian economy was paralyzed 107 days due to a mandatory quarantine for the pandemic.

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Thus, in the ninth month, the balance of trade registered a surplus of US $ 13,404 million in the last twelve months, thus reaching a new historical maximum level.

“The evolution corresponded to the high terms of trade, mainly of export mining products, and to the higher export volume of non-traditional products”, highlighted the BCRP in his weekly report released that last November 4.

Between January and September, a trade surplus of US $ 9,624 million accumulated, higher than that registered in previous years.

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Exports amounted to US $ 5,765 million in September, which represented increases of 43.6% and 31.5% compared to September 2019 and 2020, respectively.

This was explained by the higher exports of mining products; and, to a lesser extent, agricultural, textile, chemical and iron and steel industries. So far in 2021, exports totaled US $ 44,626 million, 27.1 percent higher than those of the same period of 2019 (54.5% compared to the same period of 2020).

Those of the traditional type were US $ 4,154 million, 46.6% higher than in September 2019, mainly due to higher prices of minerals and volumes of fishery products. Compared to September 2020, traditional exports were 34.7% higher, due to higher prices of copper, zinc, oil and coffee and higher shipments abroad of copper and gold.

Non-traditional sales abroad amounted to US $ 1,598 million in September, reaching an all-time high. Compared to September 2019, the value increased 37.5%, due to the higher volumes shipped (35%).

Meanwhile, imports totaled US $ 4,175 million, 23.3% higher than those of September 2019, highlighting the increase in raw materials, fuels and transportation equipment. With respect to September 2020, imports increased by 40.5 percent with generalized increases in all their items. Accumulated purchases from abroad were US $ 35,002 million so far in 2021, 13.9% higher compared to the same period in 2019 and 43.3% compared to a year ago.

On the other hand, in September 2021, the terms of trade registered an increase of 3.8% compared to the same month of 2020, favored by higher export prices, whose increase was 24.2% due to higher coffee prices , zinc, copper and hydrocarbons; while import prices rose 19.6% as a result of higher oil and input prices (food and industrial).

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