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Peru to register US$4.8 billion trade surplus in 2017Thursday, November 30, 2017 > 09:45:52
Peru's trade balance will post a US$4.8 billion-surplus in 2017, as it has been registering positive balance since July 2016, Foreign Trade and Tourism Minister Eduardo Ferreyros projected.
"We hope to close the year with a trade surplus of US$4.8 billion, more than double the figure recorded in 2016," Ferreyros highlighted.
According to the cabinet member, such rebound in the trade balance came after 20 months hit by deficit.
Likewise, he noted Peruvian exports have entered a recovery phase, following 41 months of negative results.
In this sense, total shipments expanded 25% between January and September of the current year.
It must be noted Peru —during this period— ranked as the fourth country in the world relying on the highest growth rate, as well as the top in the Americas when it comes to exports growth.
The government official also pointed out the number of Peruvian products exported during the first nine months of 2017 totaled 4,510 (105 more than in the similar period last year).
"Non-traditional exports saw rebound, after 17 consecutive months of decline.
Between January and September, Peru's non-traditional exports increased 9.7%," he expressed.
In addition, Ferreyros underscored traditional exports are also important as they generate added value, as well as contribute to job creation.
Remarks were made during his participation in the Parliament plenary session to support the budget for 2018.