LIMA, April 15 (NNN-ANDINA) — Peru’s trade balance accumulated a surplus of US$18.027 billion in the last twelve months as of February 2024, the Central Reserve Bank (BCR) reported.
The result was higher than that reported in the previous month (US$17.909 billion).
In monthly terms, Peru registered a surplus of US$1.351 billion last February, up more than US$118 million over the same month in 2023.
Likewise, the issuing entity specified that last February exports reached US$5.170 billion, a 1.6% growth compared to the same month in 2023, due to the increase in traditional product export volumes.
Finally, the BCR reported that imports decreased 0.9% to US$3.820 billion in February.
“It mainly reflects a general reduction in input prices, and lower volumes of consumer goods,” it pointed out.
MEANWHILE, Peru’s net international reserves amounted to US$76.591 billion as of April 10, the BCR reported, declaring that this level of reserves is equivalent to 29% of the country’s gross domestic product (GDP).
International reserves guarantee the foreign currency availability in unusual situations that might occur due to external shocks resulting in eventual and possible withdrawals of foreign currency deposits and a subsequent capital flight from the financial system.
Also, adequate availability of foreign exchange reserves helps reduce the country risk with the subsequent improvement of the country credit ratings and better conditions to expand foreign investment in the country.
International reserves are particularly important in a context of globalization of international markets, reduction of barriers to capital flows and volatility of financial, foreign exchange and metal markets. — NNN-ANDINA
