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LatinNews Daily - 12 July 2021

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In brief: Peru’s trade balance continues upwards trend

* Peru’s central bank (BCRP) has published figures showing that the country’s trade balance stood at US$815m in May, amounting to a total accumulated balance of US$11.23bn in the twelve months to May. The May trade balance represented a strong recovery from May 2020, when Peru posted a trade deficit of US$195m as the country was hit by the economic effects of the coronavirus (Covid-19) pandemic. May’s trade balance was also higher than the pre-pandemic figures recorded in May 2019, when the monthly trade balance stood at US$669m. Exports in May totalled US$4.8bn (up 139.2% on May 2020 and 29.6% on May 2019), whilst imports totalled US$3.98bn (up 81% on May 2020 and 12% on May 2019). The BCRP attributed the improved trade balance to a recovery in the international price of metals and increased global demand for Peruvian goods after the 2020 slump.