July 9, 2016 / 3:57 PM / 2 years ago

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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