The Central Bank of Peru published balance of payments data showing the current account recorded an annualised surplus of 2.3% of GDP at end-Q1 2025, up from 1.0% of GDP a year earlier, extending the run of positive rolling four-quarter outcomes to six consecutive quarters. On a quarterly basis, the current account surplus reached USD 1.029bn (1.4% of GDP) in Q1 2025, USD 489m higher than in Q1 2024. The improvement was driven mainly by a larger goods trade surplus amid favourable terms of trade and higher export shipments, including traditional mining products, fishmeal and a range of non-traditional products, alongside stronger external demand. Net secondary income also supported the surplus, with remittances rising, primarily from the United States. These factors were partly offset by higher profits of companies with foreign participation and, to a lesser extent, higher maritime freight costs that weighed on the services balance.
Central Bank of Peru 2025-05-24
Central Bank of Peru reports current account surplus rises to 2.3% of GDP in the year to Q1 2025
The Central Bank of Peru reported a current account surplus of 2.3% of GDP at the end of Q1 2025, up from 1.0% a year earlier, marking six consecutive quarters of positive outcomes. The quarterly surplus reached USD 1.029 billion, driven by a larger goods trade surplus and increased remittances, despite higher foreign company profits and maritime freight costs.