UPDATE 2-Peru will likely post $1 bln trade deficit in 2014

viernes 25 de abril de 2014 18:07 GYT

(Recasts lead, folds in other forecasts and announcements)

By Patricia Velez and Teresa Cespedes

LIMA, April 25 (Reuters) - Peru will likely post a trade deficit of about $1 billion in 2014 as imports outpace the global miner's exports for a second straight year and the economy expands less than expected, officials said on Friday.

The mineral-rich Andean country's exports of copper, gold and silver are not seen rebounding to levels Peru enjoyed during a decade-long mining boom, when the average annual trade surplus topped $5.5 billion.

At the same time, imports in the fast-growing emerging economy continue to surge as the middle class broadens and domestic demand remains strong.

Peru posted a $365 million trade deficit last year, its first negative gap since 2001.

The finance ministry doubled its estimate for this year's trade deficit to $1.03 billion from its August forecast of a $485 million deficit. And the central bank flipped its December view of a $40 million trade surplus to a $945 million deficit.

Mining makes up about 60 percent of Peruvian exports and 15 percent of gross domestic product.

The finance ministry said it expects exports to be limited in part because of a lower price for gold.   Continuación...