He Central Reserve Bank of Peru (BCRP) reported that andhe annualized deficit of the current account of the balance of payments fell to 2.9% in the first quarter of 2023, 0.3 percentage points lower than that registered in the same period last year.
This evolution responded to lower profits of companies with foreign direct investment (IDE) and the decrease in maritime import freight; which was partially offset by the lower trade surplus (lower volumes exported and worsening terms of trade).
In quarterly terms, the current account of the balance of payments reported a deficit of US$1,027 million in the first quarter of this year, equivalent to 1.7% of GDP, lower by US$2,671 million compared to the result of the same quarter of 2022 .
Annual trade surplus of US$10,096 million as of March
On the other hand, the BCRP indicated that the trade balance accumulated in the last 12 months registered a surplus of US$10,096 million in March.
In monthly terms, it reported a surplus of US$1,439 million in March, US$468 million higher than the result for the same month in 2022.
Exports amounted to US$5,780 million in March, an amount 2.5% higher than what was reached in the same month of 2022 due to the higher volumes of traditional products (copper and hydrocarbons).
While imports fell 7.0% to US$4,341 million in March, basically due to lower volumes of durable consumption and capital goods, as well as low input prices.
Source: Larepublica
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