Peru posts $65 mln trade surplus in May
LIMA, July 9 (Reuters) - Global minerals supplier Peru posted a $65 million trade surplus in May as exports rose on surging copper production and imports continued to slip from the same month a year ago, central bank data showed on Saturday. It was Peru's second straight monthly surplus and helped narrow the trade deficit logged so far this year to $558 million, compared with $2 billion in the same period of 2015. Imports have dropped 9.3 percent so far in 2016 despite the strengthening currency as domestic demand has remained relatively weak during a mining-driven economic recovery. Exports rose 0.6 percent in the first five months of 2016 from the same period in 2015, helped by rising production volumes from new copper mines that has offset weak prices for Peru's mineral exports. Peru is on track to become the world's second-biggest copper producer this year behind neighboring Chile. The central bank has forecast a $1.7 billion trade deficit this year, after registering a $3.2 billion gap in 2015 - Peru's biggest trade deficit ever. May 2016 May 2015 Balance $65 mln -$361 mln Exports $2.826 bln $2.661 bln Imports $2.760 bln $3.022 bln (Reporting by Mitra Taj; Editing by Leslie Adler)
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