The remittance shipments of Peruvian workers from abroad amounted to US$1,094 million in the second quarter of 2023. This amount represented a growth of 19.2%, compared to the same quarter last year, reported the Central Reserve Bank of Peru (BCRP).
The monetary authority explained that this The result was mainly due to transfers from the United States —main country where remittances come from— and to a greater number of Peruvians who made this type of shipment.
Annualized current account deficit fell to 1.9% of GDP in the second quarter
On the other hand, the BCRP also pointed out that the deficit of the current account of the balance of payments of the last four quarters fell to 1.9% of the GDP in the second quarter of 2023, 1.3% less than in the same period of 2022.
In this way, it was located, for the first time, since the last quarter of 2021, at a level below the average deficit of the last 10 years (2.3% of GDP).
In the second quarter of 2023, the current account registered a surplus of US$443 million, equivalent to 0.7% of GDP, in contrast to the deficit of US$2,081 million in the same quarter of 2022.
The BCRP indicated that this is associated with the impact of lower domestic demand and lower food and oil prices on imports, the lower deficit in the services account due to freight price corrections and higher inbound tourism, as higher inflow of remittances to the country.
Source: Larepublica
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