Peru Exports Increase in August, First Time So Far This Year

Peru’s exports posted a slight increase in August compared to the same month in 2012, the first time that exports have risen so far this year, according to tax agency Sunat.

Sunat said that exports totaled $3.9 billion in August, up 1.2 percent compared to the year-earlier month, state news agency Andina reported.

The growth was led by traditional exports, mainly minerals and other raw materials, which gained 5.3 percent. Non-traditional exports, on the other hand, which include textiles and manufactured goods, fell 10 percent.

Mining exports rose 6.4 percent in the month, on higher shipments of silver, iron, zinc and copper.

For the first eight months of this year, Peru’s exports are still much lower than the year-earlier period. They are down 10.4 percent to $27.1 billion in the January to August period.

The increase in the exports in August is a positive sign for Peru’s economy after months of disappointing data. It could be a sign that Peru’s economy will rebound in the remaining months of this year. Public and private sector economists expect that Peru will post its strongest growth of the year in the fourth quarter, driven by a stronger global economy.

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