UPDATE 2-Peru sees bigger 2014 trade deficit, smaller current account gap

viernes 29 de agosto de 2014 14:17 GYT

(Adds context on current account deficit, details of economic forecast)

LIMA Aug 29 (Reuters) - Peru's finance ministry widened its view of the 2014 trade deficit on Friday to $2.51 billion, more than double its last forecast and in line with the shortfall registered so far this year.

Nevertheless, the government trimmed its estimate for the 2014 current account deficit to 4.8 percent of gross domestic product from 5.1 percent, the finance ministry said in a biannual macroeconomic report.

But the finance ministry said the sales of foreign assets in Peru will likely add $900 million to transfers this year, easing the current account deficit that ballooned to 7.3 percent of gross domestic product in the second quarter.

In its last report, in April, the finance ministry said the trade deficit this year would likely be $1.03 billion.

But Peru logged a $2.43 billion trade gap in the first half of 2014 as the Andean country's traditional mineral exports tumbled on lower prices and weak output.

Last year Peru, a top global exporter of copper, gold and silver, posted its first trade deficit in more than a decade.

Imports will continue to outpace exports through 2016, the finance ministry said, retreating from its previous view that the country would start seeing surpluses again next year with the ramping up of big copper mines.

It now sees a $2 billion trade deficit in 2015 instead of a$61 million trade surplus, and a $690 million deficit in 2016.   Continuación...