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Peru’s February trade surplus narrows on corn, wheat prices

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By John Quigley

peru

Peru’s trade surplus narrowed in February after imports rose on higher prices for corn and wheat and rising demand for industrial machinery.

The Andean country posted a $797 million trade surplus in February, compared with an $833 million surplus a year ago, Peru’s National Statistics Institute said in an e-mailed report. January’s trade surplus was $234 million.

Imports jumped 35 percent to $2.45 billion in February from a year earlier, the agency said. Exports climbed 23 percent to $3.25 billion after metal prices rose. Minerals, led by gold and copper, accounted for 62 percent of the nation’s exports while oil and gas make up 10 percent.

Higher costs for corn used to feed chickens led Peruvian consumer prices to rise the most in almost three years last month.

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