The Central Reserve Bank of Peru published updated trade balance figures showing a cumulative surplus of USD 37,025 million over the 12 months to January 2026. In January 2026 alone, the trade surplus was USD 4,622 million, USD 2,452 million higher than in January 2025. Exports in January totalled USD 9,858 million, up 37.8% year on year, driven mainly by a 35.3% increase in export prices and a smaller 1.9% rise in export volumes. Imports increased 5.1% to USD 5,236 million, reflecting higher purchases of durable consumer goods and capital goods; within imports, consumer goods rose 18.8% to USD 1,272 million and capital goods rose 11.9% to USD 1,588 million, while inputs fell 7.3% to USD 2,244 million. The release also notes that exports of copper, zinc and molybdenum are estimated using Ministry of Energy and Mines data for firms whose shipments are not yet recorded in the export registry.