The Central Reserve Bank of Peru published data showing Peru’s terms of trade increased 10.4% in 2024, mainly driven by higher export prices. In December 2024, the terms of trade were up 9% year on year. In December, export prices rose 9.4% year on year, led by increases in gold (29.6%), zinc (30.1%), coffee (38.1%), natural gas (75.2%) and non-traditional fisheries products (26.4%), while import prices increased 0.3%. The December terms-of-trade index (2007=100) rose to 125.5 from 115.1 a year earlier; versus November 2024, the terms of trade increased 0.9% as export prices rose 1.2% mainly on higher copper and natural gas prices, while import prices increased 0.3%.
Central Bank of Peru 2025-02-20
Central Reserve Bank of Peru reports terms of trade rose 10.4% in 2024 on higher export prices
The Central Reserve Bank of Peru reported a 10.4% increase in Peru's terms of trade for 2024, driven by higher export prices. In December 2024, export prices rose 9.4% year on year, with significant increases in gold, zinc, coffee, natural gas, and non-traditional fisheries products, while import prices increased 0.3%. The terms-of-trade index rose to 125.5 in December from 115.1 a year earlier.