Peru Sees First Trade Deficit In More Than 3 Years

In April, Peru registered  a trade deficit for the first time in over three years, due to a steep decline in mineral exports, business daily Gestion reported.  

The trade deficit in April was $144, according to Gestion, citing figures from the Central Bank. Exports totaled $3.06 billion, compared to $3.20 billion for imports. The last time Peru posted a trade deficit was January 2009.

The Foreign Trade and Tourism Ministry said that exports in April declined sharply because of a steep decline in commodity prices.

“This deficit is due to a reduction in exports, principally copper and gold,” the head of economic studies at the Central Bank, Adrian Armas, said.  Copper and gold are Peru’s top export products.

From January to April, Peru continued to maintained a strong trade surplus, which totals $1.97 billion. In April 2011, Peru had a trade surplus of $342 million.

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