The Central Reserve Bank of Peru published data showing Peru’s terms of trade rose 12.3% in November 2024 compared with November 2023, reflecting a stronger relationship between export and import prices. The increase was driven by a 9.5% rise in export prices and a 2.5% fall in import prices. Export price gains were attributed mainly to higher prices for gold, zinc, coffee and non-traditional fishery products, while lower import prices were linked to cheaper oil and derivatives, down 21.4%. The terms of trade index (2007=100) increased from 111.2 in November 2023 to 124.9 in November 2024.
Central Bank of Peru 2025-01-22
Central Reserve Bank of Peru reports terms of trade up 12.3% year on year in November 2024
The Central Reserve Bank of Peru reported a 12.3% increase in Peru's terms of trade in November 2024 compared to the previous year, driven by a 9.5% rise in export prices and a 2.5% decline in import prices. Key contributors to export price gains included gold, zinc, coffee, and non-traditional fishery products, while lower import prices were primarily due to a 21.4% decrease in oil and derivatives. The terms of trade index rose from 111.2 to 124.9.