Peru’s February Exports Tumble 22.5 Percent

Peru’s export revenue continued to post strong declines in February, as the value of traditional exports such as minerals continues to drop, daily El Comercio reported.

Peru’s national statistics institute, INEI, said that exports in February fell 22.5 percent against the same month last year, to $2.95 billion.

The decline is the second consecutive month that exports have fallen by more than 20 percent, according to INEI. In January, Peru’s exports decreased 32 percent to $2.72 billion.

The drop in export revenue in February was due to a 27 percent decline in traditional exports, which mainly includes raw materials such as copper and gold. But non-traditional exports also fell, declining 6.95 percent in the month.

On the other hand, Peru’s imports rose almost 10 percent in February to $3.24 billion, giving the country a second consecutive month of a trade deficit.

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