Peru Reports Another Trade Deficit as Exports Continue Decline

Peru reported its third consecutive trade deficit in June, with exports declining almost 19 percent compared to the year-ago month, the Central Bank said.

Peru had a trade deficit of $114 million in June, compared to a surplus of $562 million in the same month in 2012, according to Central Bank figures.

Exports continued to fall, declining to $3.09 billion, from $3.8 billion in the year-earlier month. Imports were also down slightly to $3.2 billion.

Peru also had trade deficits in May and April. In the first half of this year, Peru’s trade deficit is $847 million, compared with a surplus of $3.0 billion in the first six months of 2012.

Exports are down due to weaker growth from China, which has hurt metal prices. A decline in metal prices has a major impact on Peru’s exports, which are 60 percent minerals.

The Central Bank also said Friday that a survey of 18 economic analysts lowered their economic growth forecasts to 5.7 percent, from 5.9 percent last month. The economists have lowered their outlook several times since the start of this year.

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