► PeruTrade surplus stood at US$669 million in Nov 2019

Peru's trade balance recorded a US$669 million surplus in November 2019 —the second-highest figure of the year— the Central Reserve Bank (BCR) has reported.

► PERU Non Traditional exports up 7.6% in Nov 2019 

"Thus, it has accumulated a US$4.855 billion trade surplus in the first eleven months of 2019," the BCR stressed.

► PERU Country risk at 107 basis points

It must be noted exports totaled US$3.904 billion in November 2019.

"In said month, traditional exports reached US$2.670 billion, while non-traditional ones amounted to US$1.224 billion. These last figures experienced a 7.6% increase over the same month last year, mainly due to greater foreign sales of farming and fishery products," the Central Reserve Bank explained.

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, 153%

Furthermore, it affirmed that imports totaled US$3.235 billion in November last year.

"In that month, purchases of inputs and consumption goods decreased, whereas capital goods acquisitions increased," the issuing entity pointed out.

► Peru's 2019 inflation within target range

(Andina) Peru's annual inflation rate was 0.2% in December and 1.9% in the year 2019, within the Central Reserve Bank's target range (1-3%), the issuing entity has reported.

► PERU Non Traditional exports up 7.6% in Nov 2019 

In December 2019, the price rises with the highest contribution to inflation were observed in urban fares (1.1%), national transportation (24.1%), chicken meat (1.9%), and tangerines (9.7%).

On the other hand, the price decreases —which showed the greatest negative contributions to inflation— were those of fish (-2.6%) and fresh fruits (-3.8%).

► PERU Country risk at 107 basis points

Furthermore, inflation —excluding food and energy— showed a monthly rate of 0.34% as a result of the evolution of goods (0.03%) and services (0.52%), registering a variation of 2.3% in 2019.

Inflation expectations within target range

Economic agents' inflation expectations for 2020 and for 2021 remain within the target range of 1–3%, according to the BCR Survey on Macroeconomic Expectations conducted in December 2019.

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, 153%

Inflation expectations for this year are between 2.2% and 2.4%, while the inflation rates expected for 2021 remain between 2.3% and 2.5%.

► PERU Non-traditional exports up 7.6% in Nov 2019

(Andina) Peru's non-traditional exports reached US$1.224 billion in November 2019, a 7.6% expansion over the same period in 2018, the Central Reserve Bank (BCR) has reported.

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, up 153%

"This growth was explained by higher shipped volumes (6.6%) —mainly of farming, fishery, and iron-steel products— and due to increased average prices," the entity underlined.

Thus, non-traditional product sales abroad totaled US$12.403 billion between January and November 2019, which represented a growth of 3.5% compared to the similar period in 2018.

► Peru country risk at 107 basis points

Likewise, the issuing entity pointed out that —in the first eleven months of 2019— the increased sales of avocados (+2.6%), blueberries (+53.6%), grapes (+10.1%), frozen giant squid (+54.1%), and asparagus (+3%), among other products, were registered.

Peru's non-traditional exports value registered a rise of 4.4% in the last 12-month period that ended in November 2019. Compared with other Latin American countries, it meant the highest growth among the main countries in the region.

► Mining investment to continue increasing in 2020 

► Peruvian Country risk at 107 basis points

(Andina) In the week of December 31-January 8, Peru's country risk indicator —measured by the EMBIG Peru spread— remained at 107 bps, the Central Reserve Bank has reported.

► Mining investment to continue increasing in 2020

However, in the same period, the EMBIG LatinAmerica spread rose 3 bps to 349 bps within a context of geopolitical tensions between the United States and Iran.

Interbank interest rate

On January 8, the interbank interest rate in Peruvian Soles showed an annual rate of 2.25% and this rate in U.S. Dollars registered 1.75%.

On the same date, the 90-day corporate prime rate —the interest rate charged by commercial banks to lower risk businesses— in Soles was 3.29%, while the prime rate in Dollars recorded 2.69%.

► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, up 153%

Moreover, the interest rate on mortgage loans in Soles stood at 7.9% percent, whereas this rate on loans in Dollars was 6.9%.