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Study Note No. 65: Trade Balance - July 2026

In July 2026, Peru's exports totaled USD 10,068 million, a 33.4% year-on-year increase driven by higher prices for copper and gold and increased volumes of gold and copper concentrates. Imports reached USD 6,759 million, up 32.2% year-on-year, due to higher volumes of capital and durable consumer goods and increased oil prices. The trade balance recorded a monthly surplus of USD 3,308 million, accumulating USD 45.8 billion over the last twelve months.

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NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 1 / 28 BALANCE OF TRADE: JULY 20261 Balance of Trade

  1. In July, exports totaled USD 10,068 million, representing a year-on-year growth of 33.4 percent. This result was mainly explained by the increase in export prices, which rose by 23.2 percent, mainly in mining products such as copper and gold. Additionally, exported volume grew by 8.3 percent mainly due to higher shipments of gold and copper and lead concentrates. The figures for mining exports have been complemented with information on shipments (from the SUNAT database) that have not yet been regularized.
    Imports amounted to USD 6,759 million, 32.2 percent higher year-on-year, following an increase in the volumes of capital goods and durable consumer goods, and in the prices of oil and its derivatives. The terms of trade increased by 11.2 percent year-on-year in July due to the increase in export prices (23.2 percent). With these results, in July the trade balance recorded a monthly surplus of USD 3,308 million and accumulated a surplus of USD 45.8 billion in the last twelve months.
    Table 1
    BCRPData/NEBAL202607C1
    1 Prepared by Alexander Berrocal, Natalio Sánchez and Gabriel Gálvez, supervised by María del Rosario Bernedo. 2025 Jul. (a) Jun. Jul. (b) (b)-(a) Var. % 12 months 2025 (i) 2026 (ii) (ii)-(i) Var. %
  2. EXPORTS 7,546 8,906 10,068 2,522 33.4 48,564 66,506 17,942 36.9
    Traditional Products 1/ 5,586 7,112 8,022 2,436 43.6 36,175 53,737 17,562 48.5 Non-traditional Products 1,929 1,767 2,016 87 4.5 12,257 12,541 284 2.3 Others 31 27 30 -1 -3.4 132 228 96 73.1
  3. IMPORTS 5,114 5,737 6,759 1,645 32.2 32,826 40,441 7,616 23.2
    Consumer Goods 1,151 1,336 1,577 427 37.1 7,594 9,505 1,911 25.2 Inputs 2,347 2,557 3,026 680 29.0 15,424 18,313 2,889 18.7 Capital Goods 1,499 1,840 2,151 652 43.5 9,585 12,461 2,876 30.0 Other Goods 117 4 5 -113 -95.9 223 162 -61 -27.2
  4. TRADE BALANCE 2,432 3,169 3,308 877 15.7 26,064 10,326
    Source: Sunat and BCRP
    BALANCE OF TRADE
    (USD Millions)
    2026 July January - July
    1/ Mining exports have been complemented with information on shipments (from the SUNAT database) that have not yet been regularized.

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 2 / 28 Chart 1 Source: Sunat and BCRP. BCRPData/NEBAL202607G1 Exports
2. In July, exports totaled USD 10,068 million, a level 33.4 percent higher than that recorded in the same month of 2025. This result was mainly driven by the year-on-year increase in international quotes for the main export products, especially copper and gold, which caused an increase in the average export price of 23.2 percent year-on-year. Higher prices for oil and natural gas (associated with the conflict in Iran), as well as the increase in the price of fish meal (due to lower Peruvian supply in the world market) and lead (due to the silver content present in its concentrate shipments) also contributed.
Exported volume increased by 8.3 percent year-on-year, due to higher shipments of gold, molybdenum, and copper and lead concentrates. Higher exports of fishery and non-traditional chemical products also influenced this. Trade Balance (Accumulated last 12 months) -2.9 2.0
6.7 7.2 6.9 8.1
14.9
10.1
17.0
24.1
26.3 27.6
30.1
35.4
37.9
40.0 41.8 43.1 44.5 44.9 45.8
-10.0
0.0
10.0
20.0
30.0
40.0
50.0
D.15
D.16
D.17
D.18
D.19
D.20
D.21
D.22
D.23
D.24
M.25
J.25
S.25
D.25
E.26
F
M
A
M
J
J
Miles de millones de USD
D.15 D.16 D.17 D.18 D.19 D.20 D.21 D.22 D.23 D.24 M.25 J.25 S.25 D.25 E.26 F M A M J J Exports -13.0 7.8 22.4 8.1 -2.2 -10.8 47.4 5.1 0.9 14.0 19.2 20.1 18.8 23.1 23.9 25.7 26.9 29.0 31.3 31.7 33.6 Imports -9.0 -5.9 10.2 8.1 -1.8 -15.5 38.9 16.6 -11.2 4.5 8.8 10.4 11.8 12.2 10.4 10.7 11.4 13.9 15.0 16.2 18.0 Year-on-year percentage variation (Accumulated last 12 months)

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 3 / 28 Chart 2 Source: Sunat and BCRP. BCRPData/NEBAL202607G2
Table 2
BCRPData/NEBAL202607C2
3. Traditional product exports amounted to USD 8,022 million in July, registering a year-on-year growth of 43.6 percent. This
Total Exports
(Var.% compared to similar period of previous year) J.25 A S O N D E.26 F M A M J J USD Millions 7,546 7,902 9,242 9,825 8,839 9,621 9,927 9,205 10,027 9,061 9,311 8,906 10,068 Var.% 12 months 9.6 14.2 34.2 50.7 12.4 36.1 38.8 41.6 39.5 46.8 37.3 23.4 33.4
15.0 15.8 18.4 23.1
26.1 29.8
38.8 38.0 39.7 34.9 31.5 26.6 23.2
-4.4 -1.1
13.1
23.0
-10.7
4.9
0.0
2.5
-0.1
8.8
4.5
-2.6
8.3
-20.0
-10.0
0.0
10.0
20.0
30.0
40.0
50.0
60.0
J.25 A S O N D E.26 F M A M J J
Price Volume Value
Jul. 26 /
Jun. 26
Jul. 26 /
Jul. 25
Ene-Jul.26 /
Ene-Jul.25
Jul. 26 /
Jun. 26
Jul. 26 /
Jul. 25
Ene-Jul.26 /
Ene-Jul.25
Total 14.8 8.3 2.9 -1.5 23.2 33.0
Traditional 15.1 10.5 3.9 -2.0 30.0 42.9
Fish meal -35.8 -79.3 -50.1 8.5 63.5 45.9
Coffee 54.1 -9.9 -2.1 5.1 -10.0 -1.1
Copper 1/ 33.2 20.0 3.9 -3.1 36.0 48.9
Gold 4.8 15.5 7.3 -3.7 21.9 47.8
Zinc 1/ 29.2 -28.1 -6.6 5.0 27.4 18.9
Crude oil and derivatives -32.1 -19.0 -16.6 -2.7 35.9 35.9 Natural Gas 1.2 -16.3 76.1 Non-traditional 13.8 1.2 -2.1 0.22 3.3 4.5 Agro-industrial 21.6 -2.2 -1.9 0.20 0.6 4.1 Textile 6.0 -5.7 -9.9 1.94 7.5 6.6 Fishery -11.5 8.1 27.9 -2.41 -16.8 -20.7 Chemical 7.8 13.2 2.8 -0.38 9.2 7.6 Ferrous and non-ferrous metals 20.9 -7.6 -19.5 -0.19 32.0 30.7 Non-metallic Mining 17.1 15.3 -0.7 4.95 0.1 -0.6 Source: Sunat and BCRP Exports - July 2026 (Percentage variations) Volume Index Price Index 1/ Copper and zinc exports have been estimated based on exports reported to the Ministry of Energy and Mines, in the case of companies that have carried out shipments but do not yet appear in the export register.

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 4 / 28 result was mainly explained by the increase in export prices (30 percent year-on-year), driven by higher international quotes for copper, zinc, gold and silver (the latter present in lead concentrate shipments). Hydrocarbons also recorded higher export prices, in line with the rise in international quotes associated with the conflict in the Middle East. However, compared to June, the export prices of the main metals showed a correction, reflected in the reductions of gold (-3.7 percent), copper (-3.1 percent) and lead (-8.1 percent), after geopolitical tensions. In terms of volume, a growth of 10.5 percent year-on-year was reported. The 20 percent increase in shipments of copper concentrates and 15.5 percent in gold concentrates mainly explained this expansion. Higher exports of iron (94.2 percent), molybdenum (75.3 percent, in line with its higher production) and lead concentrates (58.4 percent, benefited by the high quote of silver contained in them) also influenced, although to a lesser extent.
Table 3
BCRPData/NEBAL202607C3
4. In July, non-traditional exports grew 4.5 percent year-on-year due to the increase in the average export price (by 3.3 percent) and volume (by 1.2 percent). In terms of price, all categories saw their prices increase, except for fishery products (due to the higher supply of squid). In terms of volume, ferrous and non-ferrous metal, textile and agro-industrial products showed year-on-year reductions for the second consecutive month, although at a lower rate than observed in the previous month.
2025
Jul.
(a) Jun. Jul.
(b) (b)-(a) Var. % 12 months
2025
(i)
2026
(ii) (ii)-(i) Var. %
Total 5,586 7,112 8,022 2,436 43.6 36,175 53,737 17,562 48.5 Mining 1/ 4,852 6,429 7,363 2,511 51.8 31,913 49,584 17,671 55.4 Fishery 257 128 91 -165 -64.4 1,641 1,319 -323 -19.7 Petroleum 144 240 159 15 10.1 1,156 1,309 153 13.2 Natural gas 140 214 249 109 78.2 932 999 67 7.1 Agricultural 193 101 159 -34 -17.4 533 527 -6 -1.1 Source: Sunat and BCRP EXPORTS BY GROUP OF TRADITIONAL PRODUCTS (USD Millions) July January - July 1/ Mining exports have been complemented with information on shipments (from the SUNAT database) that have not yet been regularized. 2026

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 5 / 28 Chart 3 Source: Sunat and BCRP. BCRPData/NEBAL202607G3
5. In July, non-traditional exports recorded growth in their main destination markets, with the exception of the European Union. Higher sales to Latin America and the United States were associated with the increase in exports of ferrous and non-ferrous metal, chemical and agro-industrial products; while, in the case of China, higher shipments of fishery products stood out. In Asia, excluding China, higher exports of ferrous and non-ferrous metal and non-metallic mining products stood out. In contrast, the fall in exports to the European Union was explained by lower shipments of agro-industrial products —affected by the reduction in the price of cocoa and its manufactures— and fishery products, affected by the recomposition of squid destination markets towards China.
Table 4
BCRPData/NEBAL202607C4
Non-traditional Exports
(Var.% compared to similar period of previous year) J.25 A S O N D E.26 F M A M J J USD Millions 1,929 2,006 2,172 2,319 2,305 2,357 1,985 1,723 1,656 1,737 1,657 1,767 2,016 Var.% 12 months 6.1 13.6 14.7 10.1 2.3 12.2 1.4 7.3 1.3 2.9 -2.3 1.2 4.5 -5.7 -6.6 -6.9 -3.1 -2.2 -2.0
1.5 1.8
5.5
6.1
6.7 6.7
3.3
12.5
21.6 22.5
13.9
4.8
14.8
-0.1
5.4
-4.1 -3.0
-8.4
-5.1
1.2
-10.0
-5.0
0.0
5.0
10.0
15.0
20.0
25.0
J.25 A S O N D E.26 F M A M J J
Price Volume Value
2025
Country
Total 1,929 1,767 2,016 87 4.5 12,257 12,541 284 2.3 of which:
China 132 157 157 25 18.8 744 840 96 13.0
Latin America 524 531 590 66 12.6 3,556 3,621 66 1.8 United States 502 430 562 59 11.8 3,416 3,491 75 2.2 Asia (excluding China) 161 140 171 10 6.0 1,068 977 -91 -8.5 European Union 448 357 390 -58 -13.0 2,474 2,563 88 3.6 CAN 198 195 250 52 26.4 1,355 1,460 105 7.7 MAIN DESTINATIONS: NON-TRADITIONAL EXPORTS (USD Millions) 2026 July January - July Jul. (a) Jun. Jul. (b) (b)-(a) Var. % 12 months 2025 2026 (ii)-(i) Var. % Source: Sunat.

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 6 / 28
6. Agro-industrial exports reached USD 988 million in July, 1.6 percent lower than the same month of the previous year, due to a fall in volumes of 2.2 percent. The lower exported volume is due to lower sales of cocoa (-31.3 percent), tangerines (-12.3 percent, affected by climatic anomalies) and avocados (-5.8 percent). The lower price of cocoa would also have caused lower sales of its manufactures: i) exports of cocoa for planting were practically null compared to USD 6 million in July last year; ii) the exported volume of cocoa fat was reduced by 85.6 percent; iii) roasted cocoa, by 66 percent; and iv) cocoa powder, by 24.4 percent.
These falls were slightly compensated by the 106 percent increase in the volume of blueberries at the start of the campaign. The export price increased by 0.6 percent year-on-year due to the higher price of asparagus (30.4 percent) and avocados (10.9 percent) associated with climatic problems in Europe and the United States. However, the year-on-year increase in this month was lower than in other months due to the fall in the export price of blueberry (-3.6 percent). Chart 4 Source: Sunat and BCRP. BCRPData/NEBAL202607G4
7. Textile product exports totaled USD 156 million in July, representing a year-on-year expansion of 1.4 percent, supported by the increase in the average export price (7.5 percent). The export volume decreased by 5.7 percent due to lower sales of clothing destined for the United States and cotton fabrics to Colombia.
Agro-industrial Exports
(Var.% compared to similar period of previous year) J.25 A S O N D E.26 F M A M J J USD Millions 1,004 1,215 1,266 1,370 1,428 1,459 1,189 807 755 760 705 811 988 Var.% 12 months 6.7 30.1 18.5 2.2 -3.7 10.0 5.7 1.5 6.2 6.5 -4.3 1.1 -1.6 -11.5 -12.2 -14.0 -7.6 -6.9 -6.6 -1.3
1.1 7.7 7.7 6.8 6.8 0.6
20.5
48.2
37.8
10.9
3.8
18.4
7.1
0.4 -1.4 -1.1
-10.4
-5.3 -2.2
-20.0
-10.0
0.0
10.0
20.0
30.0
40.0
50.0
60.0
J.25 A S O N D E.26 F M A M J J
Price Volume Value

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 7 / 28 Chart 5 Source: Sunat and BCRP. BCRPData/NEBAL202607G5
8. Chemical product exports totaled USD 232 million in July, an amount 23.6 percent higher year-on-year. This result is explained by the increase in the average export price (by 13.2 percent year-on-year) and the exported volume (by 9.2 percent). The products with the highest growth in the month were ethanol (18 times more) to Europe, sulfuric acid (30.5 percent) to Chile, and polyethylene films (43.4 percent) and polypropylene (12 percent) to the region and to the United States.
Chart 6
Source: Sunat and BCRP. BCRPData/NEBAL202607G6 Textile Exports (Var.% compared to similar period of previous year) J.25 A S O N D E.26 F M A M J J USD Millions 153 135 142 147 137 160 126 126 137 145 139 144 156 Var.% 12 months 0.1 -2.2 2.3 8.0 0.8 3.1 -9.1 -12.7 -2.9 1.8 -6.7 -0.3 1.4
2.6 0.6
1.1 1.1
4.1 3.4 4.2 3.4
6.2
8.4 7.5 8.8 7.5
-2.4 -2.7
1.2
6.8
-3.2 -0.3
-12.8
-15.6
-8.6
-6.0
-13.2
-8.3
-5.7
-20.0
-15.0
-10.0
-5.0
0.0
5.0
10.0
J.25 A S O N D E.26 F M A M J J
Price Volume Value
Chemical Exports
(Var.% compared to similar period of previous year) J.25 A S O N D E.26 F M A M J J USD Millions 188 194 212 223 206 190 196 211 213 244 214 216 232 Var.% 12 months -4.6 -2.9 9.0 15.4 12.7 10.9 -5.9 19.6 -4.4 23.9 4.4 18.2 23.6
8.7 6.0
9.3 6.3 3.1 1.5
7.0 6.4 6.0 6.2
9.6
8.7 9.2
-12.2
-8.4
-0.1
8.6
9.3 9.4
-12.0
12.4
-9.7
16.7
-4.8
8.7
13.2
-15.0
-10.0
-5.0
0.0
5.0
10.0
15.0
20.0
25.0
30.0
J.25 A S O N D E.26 F M A M J J
Price Volume Value

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 8 / 28
9. In July, ferrous and non-ferrous metal and jewelry exports totaled USD 243 million, representing a year-on-year growth of 22 percent. The export price grew by 32 percent, in line with higher international quotes for metals, especially copper products. The imposition of tariffs by the United States continued to affect copper product shipments, causing a reduction in volumes of 7.6 percent. Lower sales were recorded for copper rod (-17.3 percent), copper strips (-19.1 percent) and copper wires (-82.3 percent).
10. In July, fishery product exports totaled USD 199 million, representing a contraction of 10.1 percent compared to the same month of 2025. Prices continued to decrease (-16.8 percent), due to the higher Peruvian supply of squid in international markets. In contrast, exported volume grew year-on-year by 8.1 percent due to higher shipments of canned squid (40.8 percent), frozen squid (10 percent) and scallop shells (27.1 percent).
11. Non-metallic mineral product exports registered an increase of 15.5 percent to USD 91 million. This performance responded mainly to higher shipments of mineral coal (80.5 percent) and calcium phosphate (23.8 percent). The average export price increased marginally by 0.1 percent year-on-year.
Imports
12. Imports totaled USD 6,759 million in July, 32.2 percent more than those of the same period of the previous year, mainly due to higher purchases of capital goods, durable consumer goods and industrial inputs.
Table 5
BCRPData/NEBAL202607C5
2025
TOTAL IMPORTS 5,114 5,737 6,759 1,645 32.2 32,826 40,441 7,616 23.2

  1. CONSUMER GOODS 1,151 1,336 1,577 427 37.1 7,594 9,505 1,911 25.2
    Non-durable 632 674 786 154 24.4 4,384 4,852 468 10.7 Main foods 51 51 59 8 15.0 367 357 -9 -2.6 Rest 580 623 727 147 25.3 4,017 4,495 477 11.9 Durable 519 662 791 272 52.5 3,210 4,653 1,443 45.0
  2. INPUTS 2,347 2,557 3,026 680 29.0 15,424 18,313 2,889 18.7
    Foods 238 217 324 85 35.8 1,592 1,607 15 0.9
    Oil and derivatives 638 876 873 235 36.8 4,348 6,099 1,751 40.3 Industrial inputs 1,470 1,464 1,830 359 24.4 9,484 10,608 1,123 11.8
  3. CAPITAL GOODS 1,499 1,840 2,151 652 43.5 9,585 12,461 2,876 30.0
    Construction materials 156 166 193 37 23.6 841 1,116 275 32.7 Rest of capital goods 1,343 1,674 1,958 615 45.8 8,743 11,344 2,601 29.7 Note:

IMPORTS BY USE OR ECONOMIC DESTINATION
(USD Millions)
2026 July January - July
Jul.
(a) Jun. Jul.
(b) (b)-(a) Var. % 12 months
2025
(i)
2026
(ii) (ii)-(i) Var. %
Capital goods without materials and without cell phones 1,256 1,501 1,810 554 44.1 8,108 10,316 2,208 27.2
4. OTHER GOODS 117 4 5 -113 -95.9 223 162 -61 -27.2
Source: Sunat, ZofraTacna and MEF.
Preparation: BCRP.
1/ Estimated

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 9 / 28 Chart 7 Source: Sunat and BCRP. BCRPData/NEBAL202607G8
13. The import volume index increased by 19.2 percent year-on-year in July, attributable to higher volumes acquired of capital goods excluding construction materials (37.5 percent) and durable consumer goods (43.1 percent).
The import price index showed a year-on-year increase of 10.9 percent. This result is mainly explained by higher prices for crude oil and derivatives (26.1 percent) and industrial inputs (14.3 percent), in line with the increase in the international quote of oil due to the conflict in the Middle East. Total Imports (Var.% compared to similar period of previous year) J.25 A S O N D E.26 F M A M J J USD Millions 5,114 5,137 4,851 5,331 4,950 5,465 5,276 4,824 5,851 6,030 5,963 5,737 6,759 Var.% 12 months 12.3 7.5 12.3 10.8 6.3 16.3 5.9 13.9 23.2 34.2 23.6 29.7 32.2 -2.3 -1.5 -0.5 -0.5 0.6 -1.3 -0.9 -0.4 5.8 10.1
15.2 13.9
10.9
15.0
9.1 12.9 11.3
5.6
17.9
6.8
14.4
16.5
21.9
7.3
13.9
19.2
-5.0
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
J.25 A S O N D E.26 F M A M J J
Price Volume Value

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – 15 de setiembre de 2026
Nº Sistema: INF-2020-000099
Firmado con certificados digitales emitidos por RENIEC. Los nombres de los firmantes figuran en la última página. 10 / 28
Table 6
BCRPData/NEBAL202607C6
14. Imports of non-durable consumer goods – excluding main foods – increased 25.3 percent year-on-year in July. The increase in purchases of perfumery and cosmetics (24.8 percent), cleaning products (58.2 percent) and edible preparations (45.2 percent) stands out. In addition, the increase in imports of frozen fish (148.5 percent), mainly tunas, mackerels and jureles, stands out.
15. Imports of main foods for consumption increased by 14.9 percent, due to higher volumes (15.1 percent), especially of dairy products and meats.
Jul.26 /
Jun. 26
Jul.26 /
Jul. 25
Ene-Jul.26 /
Ene-Jul. 25
Jul.26 /
Jun. 26
Jul.26 /
Jul. 25
Ene-Jul.26 /
Ene-Jul. 25
Total Imports 20.3 19.2 14.4 -2.1 10.9 7.7

  1. Consumer Goods 18.2 29.0 18.9 -0.1 6.2 5.3
    Non-durable 16.0 17.4 6.2 0.5 5.9 4.3
    Foods 10.0 15.1 1.1 4.7 -0.1 -3.6
    Rest 16.5 17.7 6.6 0.2 6.4 4.9
    Durable 20.6 43.1 36.0 -0.9 6.5 6.6
  2. Inputs 23.5 10.8 7.1 -4.1 16.4 10.8
    Foods 51.9 31.7 2.3 -1.8 3.2 -1.4
    Oil and derivatives 13.7 8.5 11.0 -12.4 26.1 26.3 Industrial inputs 24.7 8.9 5.5 0.2 14.3 6.0
  3. Capital Goods 17.0 35.3 23.9 -0.1 6.0 4.9
    Construction materials 16.3 16.6 26.5 -0.1 6.0 4.9 Rest of capital goods 17.1 37.5 23.7 -0.1 6.0 4.9 Note:

Imports - July 2026
(Percentage Variations)
Volume Index Price Index
Capital goods without materials or cell phones 20.7 35.9 21.3 -0.1 6.0 4.9 Source: Sunat, ZofraTacna and MEF. Preparation: BCRP.

NOTES OF STUDIES OF THE BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The names of the signatories appear on the last page. 11 / 28

Table 7
BCRPData/NEBAL202607C7

  1. Imports of durable consumer goods increased 52.5 percent year-on-year in July. This is explained mainly by higher imports of automobiles (84.6 percent), motorcycles and bicycles (80.5 percent), and household appliances (65.2 percent). In volume terms, a 43.1 percent year-on-year increase was observed for the aforementioned products; meanwhile, prices in this category increased 6.5 percent compared to the same month of the previous year.

During the month, a year-on-year growth in courier shipments of 37.8 percent was reported (equivalent to an increase of USD 32 million), mainly due to higher shipments from China.

Chart 8
Source: Sunat and BCRP.
BCRPData/NEBAL202607G9

2025TOTAL515159814,9366357-9-2,5
RICE865-3-41,46732-34-51,5
Volume (thousand tons)14119-5-36,510261-40-39,7
Price (US$/ton)583510538-45-7,8654526-129-19,6
SUGAR951019,8696900,3
Volume (thousand tons)181120316,41241462117,1
Price (US$/ton)520467490-30-5,7552473-79-14,4
DAIRY PRODUCTS242529520,7165148-17-10,6
Volume (thousand tons)678123,94341-2-5,6
Price (US$/ton)3 8813 5923 780-102-2,63 8293 628-201-5,3
MEATS111616549,2661084264,1
Volume (thousand tons)344138,61925630,0
Price (US$/ton)3 9454 2074 2473037,73 4694 38191126,3

Source: Sunat.
Preparation: BCRP.

2026 JulyJan - JulyJul. (a)Jun. Jul. (b)(b)-(a) Var. % 12 months 2025 (i) 2026 (ii) (ii)-(i) Var. %
IMPORTS OF MAIN FOODS: CONSUMPTION (Millions of USD)
Imports of durable consumer goods (Var.% compared to similar period of the previous year)
J.25 A S O N D E.26 F M A M J J
USD Millions519560546584567601651554650677668662791
Var.% 12 months32,732,228,818,819,324,447,130,638,661,243,141,352,5
1,01,10,70,91,93,54,85,56,07,98,07,66,5
31,330,8
27,9
17,817,0
20,2
40,4
23,9
30,7
49,3
32,631,343,1
0,0
10,0
20,0
30,0
40,0
50,0
60,0
70,0
J.25 A S O N D E.26 F M A M J J
Price Volume Value

NOTES OF STUDIES OF THE BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The names of the signatories appear on the last page. 12 / 28

  1. In July, imports of food used as inputs increased in value by 35.8 percent year-on-year, explained mainly by higher volumes of wheat and soybean oil.

Table 8
BCRPData/NEBAL202607C8

  1. Industrial input imports2 increased by 24.4 percent, due to both higher prices (14.3 percent year-on-year) and higher volumes (8.9 percent). Higher volumes of chemical products (51.7 percent), organic chemicals (31.4 percent), and concentrated minerals (27.2 percent) stand out. On the other hand, the increase in prices (14.3 percent) was mainly due to the higher cost of plastics (40.5 percent), fertilizers (32.1 percent), and organic chemicals (18.7 percent), in line with the increase in natural gas and oil quotes, as a consequence of the conflict in the Middle East.

2 This category excludes food, crude oil, and derivatives.

2025TOTAL2382173248535,81 5921 607150,9
WHEAT17213721122,8339305-34-9,9
Volume (thousand tons)677513972107,81 2721 169-104-8,1
Price (US$/ton)251274270187,2266261-5-1,9
CORN AND/OR SORGHUM891019233,3564553-11-1,9
Volume (thousand tons)448484460122,72 6212 635140,5
Price (US$/ton)19820820010,6215210-5-2,4
TOTAL SOYA133961956246,6689748598,6
Volume (thousand tons)3121773726019,11 4791 48560,4
Price (US$/ton)4255405239823,1466504388,1
Soybean oil4944883979,72843243913,8
Volume (thousand tons)4537732862,226827672,8
Price (US$/ton)1 0851 2031 20211710,81 0611 17511410,7
Soybean meal81010333,1505235,9
Volume (thousand tons)192223418,812012110,8
Price (US$/ton)3994354474812,1411432215,1
Soybean cake7642962026,6355372174,8
Volume (thousand tons)2481192762811,21 0901 088-2-0,2
Price (US$/ton)3073543494213,8326342165,0

Source: Sunat.
Preparation: BCRP.

2026 JulyJan - JulyJul. (a)Jun. Jul. (b)(b)-(a) Var. % 12 months 2025 (i) 2026 (ii) (ii)-(i) Var. %
IMPORTS OF MAIN FOODS: INPUTS (Millions of USD)

NOTES OF STUDIES OF THE BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The names of the signatories appear on the last page. 13 / 28

Table 9
BCRPData/NEBAL202607C9

  1. Capital goods imports -excluding construction materials and cellphones- increased 44.1 percent year-on-year in July, mainly due to higher volumes (35.9 percent). The increase in imports of heavy-duty dump trucks, tractors, pickup trucks, laptops, and excavators stands out.

Chart 9
Source: Sunat and BCRP.
BCRPData/NEBAL202607G10

Jul.26 / Jun. 26Jul.26 / Jul. 25Ene-Jul.26 / Ene-Jul. 25
TOTAL24,78,95,5
Plastics0,214,36,0
Iron and steel12,93,2-0,4
Textiles-0,840,58,8
Papers72,512,97,6
Chemical products2,30,5-2,9
Organic chemicals5,42,20,3
Rest1,5-0,8-2,7
Fertilizers26,2-1,4-4,4
Concentrated minerals-1,1-1,4-2,9
Rest40,951,710,3
2,312,78,9
41,131,46,4
2,418,71,8
19,54,36,8
-0,415,58,7
40,7-35,8-17,6
-9,232,127,3
25,627,28,5
-3,224,346,2
16,76,59,3
1,112,72,5

Source: Sunat, ZofraTacna and MEF.
Preparation: BCRP.

Jul.26 / Jun. 26Jul.26 / Jul. 25Ene-Jul.26 / Ene-Jul. 25
Imports of Industrial Inputs (Percentage Variations)
Volume IndexPrice Index
Source: Sunat, ZofraTacna and MEF. Preparation: BCRP.
Imports of capital goods excluding construction materials and cellphones (Var.% compared to similar period of the previous year)
J.25 A S O N D E.26 F M A M J J
USD Millions1 2561 3571 2411 3891 2641 4871 3311 1841 4071 4881 5951 5011 810
Var.% 12 months16,922,511,112,212,033,38,517,917,735,130,736,144,1
0,60,50,60,51,11,93,13,53,9
5,75,86,26,0
16,2
21,9
10,511,610,8
30,8
5,2
13,913,3
27,8
23,5
28,2
35,9
0,0
5,0
10,0
15,0
20,0
25,0
30,0
35,0
40,0
45,0
50,0
J.25 A S O N D E.26 F M A M J J
Price Volume Value

NOTES OF STUDIES OF THE BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The names of the signatories appear on the last page. 14 / 28

Terms of Exchange

  1. In July 2026, the terms of exchange recorded an 11.2 percent year-on-year increase, explained by a 23.2 percent increase in export prices, mainly for metals (copper, gold, and zinc, whose variations exceeded 20 percent) and fishmeal (63.5 percent). On the other hand, import prices increased 10.9 percent, due to higher prices for oil and derivatives.

Compared to the previous month, the terms of exchange increased by 0.6 percent, mainly due to lower import prices (-2.1 percent).

Chart 10
Terms of Exchange: 2001-2026
(2007=100)
Source: SUNAT and BCRP.
BCRPData/NEBAL202607G11

5060708090100110120130140150160170180190200210
E.01 J N A S F J D M O M A E.06 J N A S F J D M O M A E.11 J N A S F J D M O M A E.16 J N A S F J D M O M A E.21 J N A S F J D M O M A E.26 J
Jul.26: 180,7 average: 101
E.25 F M A M J J A S O N D E.26 F M A M J J
TI: Index144,9147,8150,0153,9159,8161,6162,6162,7170,6176,3178,2189,6203,0204,9198,1188,6182,4179,7180,7
var.previous period0,52,01,52,63,81,10,60,14,93,31,16,47,10,9-3,3-4,8-3,3-1,50,6
var.12 months13,417,918,115,618,118,617,717,619,123,725,331,540,138,632,122,514,211,211,2
PX: Index178,3183,7184,0188,4192,1196,4198,7198,0208,7214,8219,0229,5247,5253,5257,1254,1252,5248,7244,8
var.previous period0,83,00,22,41,92,21,2-0,35,42,91,94,87,82,41,4-1,1-0,6-1,5-1,5
var.12 months11,816,813,812,112,014,415,015,818,423,126,129,838,838,039,734,931,526,623,2
PM: Index123,0124,3122,7122,4120,2121,5122,2121,7122,3121,9122,9121,1121,9123,7129,8134,8138,4138,4135,4
var.previous period0,21,0-1,2-0,2-1,81,10,6-0,40,5-0,30,9-1,50,71,54,93,82,70,0-2,1
var.12 months-1,4-0,9-3,7-3,0-5,2-3,6-2,3-1,5-0,5-0,50,6-1,3-0,9-0,45,810,115,213,910,9

NOTES OF STUDIES OF THE BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The names of the signatories appear on the last page. 15 / 28

Annex I: International transport costs

  1. Globally, as of September 3, the Drewry container index registers an increase of 101.8 percent compared to December 2025, explained mainly by the increase in freight rates on the Shanghai–Los Angeles route, whose costs increased 189.6 percent in the same period.

In the last four weeks, the index accumulated an increase of 3.9 percent, mainly due to an increase in transpacific route costs, favored by still strong American demand and a supply restriction by shipping lines; an effect partially compensated by the fall in Asia–Europe rates due to European demand, which has been weakening. Persistent port congestion in Asia, the reduction of transit quotas in the Panama Canal due to lower rainfall, and geopolitical tensions in the Middle East could generate new upward pressures on freight rates in the coming weeks.

Chart I.1
Source: Drewry.
BCRPData/NEBAL202607GI_1

set26/dic25set26/dic24set26/dic21set26/dic20set26/dic19
Global Index101,817,4-52,02,4180,5-58,6
Shanghai to Rotterdam80,1-3,4-65,9-29,6132,8-68,6
Shanghai to L.A.137,631,0-42,341,2310,7-52,6

Note: Information as of August 6. Monthly data correspond to the last available data of the month. Var % resp. Max Var. %

  1. As of September 2, the Baltic Dry index, for dry bulk cargo, has increased by 77.5 percent compared to its level at the end of 2025. In the last four weeks, the index has increased by 8.7 percent.
0200040006000800010000120001400016000
ene-20 mar-20 may-20 jul-20 sep-20 nov-20 ene-21 mar-21 may-21 jul-21 sep-21 nov-21 ene-22 mar-22 may-22 jul-22 sep-22 nov-22 ene-23 mar-23 may-23 jul-23 sep-23 nov-23 ene-24 mar-24 may-24 jul-24 sep-24 nov-24 ene-25 mar-25 may-25 jul-25 sep-25 nov-25 ene-26 mar-26 may-26 jul-26 sep-26
Drewry's Global Container Index (USD per 40-foot container)
Shangai to Rotterdam
Shangai to LA
Global

Chart I.2
Source: Baltic Exchange.
BCRPData/NEBAL202607GI_2

Var. % sep26/ago26sep26/dic25sep26/dic24sep26/dic21sep26/dic20
Baltic Dry Index17,277,5234,150,2143,9

Note: Information as of September 02

The El Niño and the Panama Canal

Approximately 5 to 6 percent1/ of international maritime trade transits through the Panama Canal, connecting more than 1,920 ports in 170 countries. Its importance is particularly high for the United States, as it is estimated that close to 40 percent of its container traffic uses the Canal. For the Peruvian case, it is estimated that in 2025, 18 percent of exports and 25 percent of Peruvian imports passed through the Panama Canal.

The functioning of the route depends, however, on the availability of fresh water from Gatún and Alhajuela lakes. The average water usage per transit of a Panamax ship was 194 million liters, while for Neopanamax ships, an average of 437 million liters per transit was required2/. This dependence makes the Canal especially vulnerable to alterations in the rainfall regime.

In 2026, this vulnerability has become evident again with the development of a new El Niño episode. Between May and August 20, accumulated rainfall in the Canal basin was 34 percent below its historical average, and water contributions to the reservoirs were 44 percent below normal. This led the Panama Canal Authority to reduce the usual daily transit reservation quotas from 36 to 34 and to announce a new reduction to 32 starting September 15. Additionally, the maximum allowed draft was lowered from 50 feet to 48 feet. These restrictions could intensify in the coming months, given that international meteorological agencies predict that El Niño will continue to strengthen towards the end of 2026.

A similar situation occurred in El Niño 2023-2024. During this event, a precipitation deficit close to 30 percent was recorded, the maximum draft dropped to 44 feet from June 2023, and daily transit reservation quotas were reduced to 22 in December 2023. The average monthly elevation of Gatún Lake from June to October 2023 was 80 feet. This level is lower than the current average of August 84 feet (partly due to higher rainfall in the dry season of the first half of 2026). Nevertheless, it should be mentioned that El Niño 2023-2024 was of strong intensity, while the forecast for El Niño 2026-2027 is very strong.

1/ Estimate by the Panama Canal Authority. 2/ 2025 Annual Report of the Panama Canal Authority. In the case of water used for Neopanamax ships, 56 percent was destined to the conservation of the quality of the Gatún reservoir water (CCA). 3/ Reservation quotas do not equate to the total daily transits. The ACP can incorporate ships without reservation into the schedule based on available capacity.

3. Locally, in August, the total average import freight registered a value of USD 110.0 per TM, representing an increase of 30.7 percent compared to December 2025. Imports originating from China reached an average freight of USD 281.3 per TM, higher by 107.3 percent compared to the December 2025 level and by 20.4 percent compared to the previous month's level.

Chart I.3
Source: SUNAT and BCRP.
BCRPData/NEBAL202607GI_3

Capacity Increase
Number of daily ship transits 2/
From July 30 to October 31, 2023
From November 1 to 2, 2023
From November 3 to 6, 2023
From November 7 to 14, 2023
From November 15 to 30, 2023
From December 1, 2023 to January 15, 2024
Since January 16, 2024 5/
Neopanamax10887767
Panamax2222171617
32302524242224
Panama Canal: Schedule of daily ship transit reduction 2023 1/
Ship Categories / Reservation Dates 3/
Decrease
Number of daily reservation quotas
5/ The Notice A-48-2023 scheduled 20 daily quotas for January 2024 and 18 from February 2024. Both reductions were reversed by Notice A54-2023 (December 15, 2023) before entering into force, raising quotas to 24 from January 16, 2024.

Source: Panama Canal Authority (ACP).

1/ The table combines two distinct concepts: until October 31, 2023, the ACP set a daily transit capacity; from November 1, it set a maximum number of reservation quotas offered. They are not directly comparable: transit capacity includes ships transiting without reservation. 2/ Average daily transit capacity of 32 ships (10 in Neopanamax locks and 22 in Panamax locks), effective from July 30, 2023 to October 31 of the same year (Notice to Shipping Companies A-35-2023). 3/ Corresponds to the sum of the Supers and Regulars categories used by the ACP. From November 1, 2023, the adjusted capacity was 31 ships per day, of which 30 were offered as reservation quotas: 8 in Neopanamax locks and 22 in Panamax locks (A-43-2023). 4/ Maximum authorized draft in Neopanamax locks, in effect from June 2023 and for the rest of the year.

Average Elevation and Maximum Allowed Draft 2023 vs 2026
2023202620232026
January878950,050,0
February868950,050,0
March848848,550,0
April838647,050,0
May818644,550,0
June808544,050,0
July808544,049,0
August808444,048,5
September 2/8044,048,0
October8044,0
November8144,0
December8244,0
January 20248144,0
2/ Draft in effect as of September 6

Source: Panama Canal Authority (ACP)

1/ Neopanamax locks. Feet Tropical Fresh Water (TWF) refers to feet of tropical fresh water from Gatún Lake.

Average Elevation of Gatún Lake (feet)
Minimum maximum allowed draft (feet TFW) 1/

NOTES OF STUDIES OF THE BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The names of the signatories appear on the last page. 18 / 28

Chart I.4
Source: SUNAT and BCRP.
BCRPData/NEBAL202607GI_4

50100150200250300350400450500550600
20406080100120140160180200
feb-19 apr-19 jun-19 aug-19 oct-19 dec-19 feb-20 apr-20 jun-20 aug-20 oct-20 dec-20 feb-21 apr-21 jun-21 aug-21 oct-21 dec-21 feb-22 apr-22 jun-22 aug-22 oct-22 dec-22 feb-23 apr-23 jun-23 aug-23 oct-23 dec-23 feb-24 apr-24 jun-24 aug-24 oct-24 dec-24 feb-25 apr-25 jun-25 aug-25 oct-25 dec-25 feb-26 apr-26 jun-26 aug-26
Freight rates by region of origin (USD/TM)
Total (left axis)
China (right axis)
aug26/jul26aug26/dic25aug26/dic24aug26/dic21aug26/dic20
-3,430,726,0-38,248,0-38,2
Orig. from China20,4107,375,2-43,044,1-47,6

Note: Information as of August 30
Var. % Var. % resp. Max
Total

  1. The average freight for food summed USD 40.6 per TM in August, 7.2 percent lower than the previous month, but 14.9 percent higher than December.

Chart I.4
Source: SUNAT and BCRP.
BCRPData/NEBAL202607GI_4

010203040506070
ene-19 mar-19 may-19 jul-19 sep-19 nov-19 ene-20 mar-20 may-20 jul-20 sep-20 nov-20 ene-21 mar-21 may-21 jul-21 sep-21 nov-21 ene-22 mar-22 may-22 jul-22 sep-22 nov-22 ene-23 mar-23 may-23 jul-23 sep-23 nov-23 ene-24 mar-24 may-24 jul-24 sep-24 nov-24 ene-25 mar-25 may-25 jul-25 sep-25 nov-25 ene-26 mar-26 may-26 jul-26
Import freight rates for food (USD/TM)
aug26/jul26aug26/dic25aug26/dic24aug26/dic21aug26/dic20
-7,214,919,2-37,244,4
-30,9-9,6-29,019,01,9
-2,143,941,8-49,6-8,1
-2,54,315,7-34,389,4
1,126,331,6-34,353,7

Note: Information as of August 30
Corn
Soybean cake
Food
Soybean oil
Wheat
Var. %

NOTES OF STUDIES OF THE BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The names of the signatories appear on the last page. 19 / 28

Annex II: Supplementary tables of the trade balance

Table II.1
………………………………………………………………………….……………..…..….continues

2025
JulJunJulVar. % 12 months 2025 2026 Flow Var. %
1. Agricultural 1 188 902 1 137 -4,3 6 362 6 477 116 1,8
Fresh or refrigerated agricultural products 909 633 875 -3,7 4 492 4 737 245 5,4
Blueberries 97 67 193 98,6 377 619 243 64,4
Grapes 6 8 17 173,4 682 806 125 18,3
Coffee 184 92 149 -18,9 484 469 -15 -3,2
Avocados 215 240 203 -5,8 1 048 1 136 88 8,4
Cacao 149 56 59 -60,7 511 222 -289 -56,5
Asparagus 40 26 48 20,6 172 184 12 7,0
Mangoes 1 -24,6 232 265 32 13,9
Mandarins 80 23 78 -2,7 169 138 -31 -18,1
Rest 136 121 127 -6,4 817 897 80 9,8
Agricultural manufactures 279 269 262 -6,1 1 870 1 741 -129 -6,9
Cacao and confectionery manufactures 62 37 36 -42,2 381 258 -122 -32,1
Canned fruits and vegetables 43 34 36 -16,4 283 247 -36 -12,7
Frozen fruits (e.g. mango, blueberry, and avocado) 29 34 34 17,2 255 244 -11 -4,3
Bakery and milling 24 24 28 16,2 149 160 11 7,5
Vegetable and animal oils and fats 13 34 17 26,3 135 145 10 7,4
Animal feed 16 19 18 16,0 136 132 -4 -3,1
Rest 92 86 93 1,3 531 554 23 4,4
2. Fishing and its manufactures 478 358 290 -39,3 3 064 2 761 -303 -9,9
Fishmeal 235 115 80 -66,1 1 340 975 -364 -27,2
Squid 170 157 134 -20,8 907 821 -86 -9,5
Fish oil 22 14 12 -45,8 302 343 42 13,8
Shrimp 14 23 18 35,3 121 131 10 8,1
Rest 38 50 46 21,8 395 491 96 24,3
3. Metallic and non-metallic mining 5 117 6 693 7 681 50,1 33 643 51 458 17 815 53,0
Extraction of minerals and coal 2 905 3 685 4 747 63,4 19 523 29 831 10 308 52,8
Copper concentrate 1 910 2 329 3 115 63,0 13 473 20 443 6 970 51,7
Lead concentrate 304 549 549 80,4 1 701 3 530 1 829 107,6
Zinc concentrate 224 152 206 -8,1 1 206 1 379 173 14,3
Gold concentrate 205 312 414 102,0 1 163 1 780 616 53,0
Molybdenum concentrate 94 175 203 114,4 969 1 193 224 23,1
Iron, sludge, and cakes 113 117 193 70,2 602 1 091 488 81,1
Calcium phosphates 33 36 41 24,6 259 260 2 0,7
Coal 15 12 22 47,4 104 119 15 14,5
Rest 6 4 5 -17,4 46 36 -10 -21,4
2026 January - July
Exports by Economic Activity (USD Millions)

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The signatories' names appear on the last page. 20 / 28 BCRPData/NEBAL202607A1

20252026
JulJunJulVar. % 12 months
FlowVar. %
Mineral manufactures2,2113,0082,93432.714,12021,6277,50753.2
Dore gold1,6972,3432,26533.510,49916,7076,20859.1
Refined copper15528026168.71,2152,2901,07588.5
Tin8910278-12.5602546-57-9.4
Copper products1241201316.2685750659.5
Zinc products27194257.92122463416.0
Refined zinc123136194.388214125141.8
Silver products131827112.4971374041.2
Iron products12181633.49310299.6
Rest837777-7.562863561.0
4. Oil and natural gas extraction and refining28545440943.52,0932,34224911.9
Petroleum derivatives12620614010.99611,17621522.4
Natural gas14021424978.2932999677.1
Crude oil1934204.5199167-33-16.4
5. Other manufactures44747252016.23,2703,240-30-0.9
Clothing, fibers and textile products1531431540.71,008962-46-4.6
Cotton t-shirts3939428.8273252-21-7.8
Men's cotton shirts151113-14.511094-15-14.0
Fine camelid hair111311-3.77077710.2
Rest8880880.2556539-17-3.0
Manufacture of substances and chemical products12314215828.19501,043929.7
Inks and dyes333828-16.523523721.0
Sulfuric acid9161446.767912434.9
Ethanol12251,954.5399859151.0
Rest80879114.460961781.3
Manufacture of plastic and rubber products55686720.7384415318.0
Propylene films9151450.364862234.1
Ethylene films761161.0464937.1
Rest4046427.127428062.0
Metal products, except machinery and equipment181417-7.8135107-27-20.3
Machinery and equipment32293819.3239200-39-16.5
Jewelry and costume jewelry358137.68632-55-63.5
Rest63727925.7466482153.3
6. Other exports312730-3.41322289673.1
Total7,5468,90610,06833.448,56466,50617,94236.9

Note: Grouped according to the UNSD Tariff-CIIU correlator revision 4 (United Nations Statistics Division). Mineral exports have been complemented with shipping information (from the SUNAT database) that has not yet been regularized. Source: Sunat and BCRP.

2026 January - July
Exports by Economic Activity
(USD Millions)

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The signatories' names appear on the last page. 21 / 28

Table II.2
BCRPData/NEBAL202607A2

Jul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
TOTAL1,9291,7672,016874.512,25712,5412842.3
of which:
Fresh avocados215240203-12-5.81,0481,136888.4
Fresh grapes681711173.468280612518.3
Frozen cuttlefish138123104-34-24.7735640-95-12.9
Blueberries97671939698.637761924364.4
Copper wire rod473852612.429329631.1
Refined copper strips48494911.81982666834.6
Fresh mangoes10--24.62322653213.9
Calcium phosphates333641824.625926020.7
Raw cocoa1495659-91-60.7511222-289-56.5
Zinc products2316391566.61802183720.8
Fresh asparagus402648820.6172184127.0
Canned cuttlefish303229-2-5.716617152.7
Pomegranates292012.11141513732.4
Alloyed silver13182714111.3971363940.4
Shrimp feed141817322.5123122-1-1.1
Anthracite coal151222747.41041191514.5
Frozen mango5138353.5133115-18-13.4
Other cotton t-shirts1817180-1.01121120-0.3
Colored lacquers131812-1-10.810510833.1
Other citrus fruits201614-6-29.3151143-8-5.2
Cotton t-shirts - monochrome14121400.2131106-25-19.1
Frozen fish fillets4940-7.34710558124.8
Refined copper bars121818649.8701013043.1
Other frozen fruits22192429.59810032.7
Ethyl alcohol1225241,954.5399859151.0
Sulfuric acid91614446.767912434.9
Fish egg trays477386.160872745.1
Carmine acid12139-4-30.18584-1-1.4
Rest923859948252.75,8675,678-189-3.2

Source: Sunat
MAIN PRODUCTS: NON-TRADITIONAL EXPORTS
(USD Millions)
2025 2026 July January-July

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The signatories' names appear on the last page. 22 / 28

Table II.3
BCRPData/NEBAL202607A3

Country
Jul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
United States5024305625911.83,4163,491752.2
Netherlands1671611851811.09921,18719519.7
China1321571572518.87448409613.0
Chile11814211800.2770804344.5
Spain13395103-30-22.5699655-44-6.3
Ecuador798878-1-1.4572585132.2
Mexico6661892334.8497489-8-1.6
Colombia78991052734.55046009619.1
Brazil525039-13-24.9319309-10-3.2
United Kingdom49445347.32542863212.6
Rest552440527-25-4.63,4903,294-196-5.6
Total1,9291,7672,016874.512,25712,5412842.3

Note:

Region/CountryJul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
China1321571572518.87448409613.0
Latin America5245315906612.63,5563,621661.8
United States5024305625911.83,4163,491752.2
Asia (excluding China)161140171106.01,068977-91-8.5
European Union448357390-58-13.02,4742,563883.6
CAN1981952505226.41,3551,4601057.7

MAIN DESTINATIONS: NON-TRADITIONAL EXPORTS
(USD Millions)
2026 July January - July

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The signatories' names appear on the last page. 23 / 28

Table II.4
BCRPData/NEBAL202607A4

Jul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
AGRICULTURE, LIVESTOCK AND FISHING1682022185029.51,4191,383-36-2.5
MINING AND HYDROCARBONS7409871,01827837.54,9757,0342,06041.4
Oil and coal64287687623536.64,3646,1141,75040.1
Mining991111424343.461192030950.6
MANUFACTURING4,1144,4385,4021,28831.325,93231,0935,16119.9
Food and beverages39839855515739.42,6642,95929411.0
Food37736853015240.42,5152,78527010.7
Beverages213026521.51501742415.9
Textiles, leather and footwear304269322196.12,0262,086592.9
Textiles and clothing215205229146.41,4841,538543.6
Leather and footwear89659355.454254761.1
Forestry and wooden furniture5157611019.73263967021.4
Wood354039412.42172654822.1
Furniture171722635.11091312220.0
Cellulose, paper, cardboard, publishing and printing1058899-7-6.2639614-25-3.9
Cellulose, paper and cardboard947690-3-3.4559530-29-5.2
Publishing and printing12128-3-28.4808545.3
Basic chemical products and preparations, rubber and plastic8779931,14326630.35,8516,59874712.8
Basic chemical products1141241604640.0880941616.9
Prepared chemical products56063974018032.23,7364,20647012.6
Synthetic rubber and plastic in primary forms1271631835644.2917990737.9
Pharmaceutical and medicinal chemical products1221511411915.6824890678.1
Soaps, detergents, perfumes and similar83971153238.156067111019.7
Other chemicals2272283017332.21,4351,65422015.3
Rubber, plastic and related chemicals2032302434019.61,2351,45121617.5
Non-metallic mineral products555062611.43724275414.5
Basic iron and steel industry, and non-ferrous metals3042333656220.31,5951,85425916.2
Iron and steel2682053306223.11,4021,62722516.1
Non-ferrous metals3628350-0.81932273417.4
Metal and electrical products and instruments, machinery, equipment and transport material1,9182,2412,66574738.911,81615,4133,59730.4
Metal and electrical products and instruments74993697822930.55,0126,2651,25425.0
Non-electrical machinery and equipment53060380627652.23,6334,49786423.8
Transport material63970188124237.83,1724,6511,48046.7
Other manufactured products1011091302827.964274810616.5
OTHERS911101213033.150093043186.2
TOTAL5,1145,7376,7591,64532.232,82640,4417,61623.2

Source: Sunat and BCRP.
IMPORTS ACCORDING TO UNIFORM INTERNATIONAL INDUSTRIAL CLASSIFICATION (USD Millions) Note: Prepared based on the HS-CIIU correlation. Imports not classified according to CIIU have been placed in the "Others" category. 2026 Jul. (a) Jun. Jul. (b) July January - July (b)-(a) Var. % 12 months 2025 (i) 2026 (ii) (ii)-(i) Var. %

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The signatories' names appear on the last page. 24 / 28

Table II.5
BCRPData/NEBAL202607A5

Jul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
Non-durable consumption58062372714725.34,0174,49547711.9
Cleaning products2430391458.21712114023.5
Perfumery and cosmetics5564681424.83684346618.0
Edible products and preparations2731401245.22032464220.9
Human use medicines5871701220.53974475012.6
Clothing58556359.1432446143.2
Rest3583724488924.92,4462,71026510.8
Durable consumption51966279127252.53,2104,6531,44345.0
Automobiles16724830814184.69871,61863163.9
Motorcycles and bicycles2948522380.518429711361.2
Household appliances3340542165.22412824117.0
Televisions2333361355.02193038438.6
Plastic material articles283137931.41862223619.5
Rest2392633046527.11,3931,93153838.6

Source: Sunat.
Preparation: BCRP.
MAIN IMPORTED GOODS OF CONSUMER GOODS EXCLUDING MAIN FOODS (USD Millions) 2026 July January - July

Table II.6
BCRPData/NEBAL202607A6

Jul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
IMPORTS63887687323536.84,3486,0991,75140.3
Volume (thousand bbls.)8,1037,6798,3412382.955,34360,8175,4749.9
Price (US$/bl)791141052632.9791002227.6
CRUDE280353204-76-27.11,9012,0751749.2
Volume (thousand bbls.)3,9373,4202,384-1,553-39.426,26723,718-2,550-9.7
Price (US$/bl)71103851420.372871520.9
DERIVATIVES35852366931186.82,4474,0241,57764.4
Volume (thousand bbls.)4,1664,2595,9571,79143.029,07637,0998,02427.6
Price (US$/bl)861231122630.6841082428.9
Of which:
Diesel216354444228105.81,5302,6411,11172.6
Volume (thousand bbls.)2,2742,4793,25798343.216,80020,7513,95123.5
Price (US$/bl)951431364143.7911273639.8
Lubricating Oils2942441655.22002383818.9
Volume (thousand bbls.)149212349199133.31,1611,80764755.7
Price (US$/bl)191196127-64-33.5172131-41-23.6
Gasoline705665-5-7.238855616743.0
Volume (thousand bbls.)844429565-279-33.14,4815,16468215.2
Price (US$/bl)831311153238.7871082124.1
Turbo Jet21315938184.2132323190143.9
Volume (thousand bbls.)22423344021696.41,4642,38592263.0
Price (US$/bl)931341344244.7901354549.7

Source: Sunat.
Preparation: BCRP.
PETROLEUM IMPORTS
(USD Millions)
2026 July January - July

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The signatories' names appear on the last page. 25 / 28

Table II.7
BCRPData/NEBAL202607A7

Jul. (a)Jun. Jul. (b)(b)-(a)Var.% 12 months
20252026FlowVar.%
Total426632863437102.62,5824,2751,69465.6
Consumption19629636016484.01,1711,91474363.5
Passenger transport19629636016484.01,1711,91474363.5
Private transport 1/.13221125812796.07811,34856872.7
4-wheel drive vehicles (SUV/Off-road)3537501543.52042686431.3
Motorcycles2846502382.117628510962.2
Bicycles112164.469357.4
Special vehicles (snow/golf)0--100.011-1-47.4
Ambulances, mobile and mortuary cars0105.810-1-80.2
Rest0-46.912142.6
Capital230336503273118.41,4112,36195067.4
Passenger transport2660411558.614328113896.2
Omnibuses1835281053.98016989111.7
Microbuses (combis) 2/.82514668.8631124976.8
Freight transport159212360201126.09791,62064165.5
Pick-up trucks58601064882.736950813937.5
Vehicles with max load > 20 TM44669046103.626243116964.4
Vehicles with max load <= 20 TM4160702969.422738415668.8
Dump trucks16259478497.6120297177147.6
Tractors35459257161.521935113260.1
Road tractors27358154198.018430111763.7
Agricultural tractors71010334.433481546.7
Crawler tractors (mining)0-100.0110-35.4
Cultivator (agriculture)07.7110-12.6
Vehicles for special uses10191001.0691094057.5
Concrete mixer trucks554-1-25.525411662.2
Fire trucks0-9.5132264.4
Crane trucks031687.112231189.6
Drilling or exploration trucks0n.a34123.5
Street sweepers0n.a11051.6
Rest4103-2-41.227371036.9
  1. Private transport considers a capacity of up to 10 people.
  2. Microbuses consider transport of up to 16 people.
    Source: Sunat
    Land vehicle imports
    (USD Millions)
    2026 July January-July

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The signatories' names appear on the last page. 26 / 28

Table II.8
BCRPData/NEBAL202607A8

Table II.9
BCRPData/NEBAL202607A9

Country
Jul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
China1,5791,8802,29871945.510,08913,4823,39333.6
United States1,0111,0351,35534434.06,1537,6991,54625.1
Brazil337334352154.61,8442,35050627.4
Argentina2322562976528.11,5941,662694.3
Mexico1301371643426.2907979728.0
Germany1111271584843.173589315821.5
Chile1031281272423.468587318827.4
Colombia1611532074528.21,0851,24015514.3
Canada341087440118.573473950.7
Japan1001381161515.563675712119.0
Rest1,3161,4421,61229622.58,3659,7691,40416.8
Total5,1145,7376,7591,64532.232,82640,4417,61623.2

Note:

RegionJul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
Asia2,1482,5943,02387540.713,80318,0104,20730.5
North America1,1751,2801,59341835.67,7949,4161,62320.8
European Union46450156610221.92,9733,39642314.2
Andean Countries 1/44343555411125.22,8793,56668723.9
Mercosur 2/6016216969515.73,5964,20560916.9

1/ Andean Countries: Bolivia, Chile, Colombia, Ecuador and Venezuela.
2/ Mercosur: Brazil, Argentina, Paraguay and Uruguay.
Source: Sunat and ZofraTacna
Preparation: BCRP
IMPORTS ACCORDING TO PLACE OF ORIGIN
(USD Millions)
2026 July January - July

Country
Jul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
China1,5791,8802,29871945.510,08913,4823,39333.6
United States1,0111,0351,35534434.06,1537,6991,54625.1
Brazil337334352154.61,8442,35050627.4
Argentina2322562976528.11,5941,662694.3
Mexico1301371643426.2907979728.0
Germany1111271584843.173589315821.5
Chile1031281272423.468587318827.4
Colombia1611532074528.21,0851,24015514.3
Canada341087440118.573473950.7
Japan1001381161515.563675712119.0
Rest1,3161,4421,61229622.58,3659,7691,40416.8
Total5,1145,7376,7591,64532.232,82640,4417,61623.2

Note:

RegionJul. (a)Jun. Jul. (b)(b)-(a)Var. % 12 months
2025 (i)2026 (ii)(ii)-(i) Var. %
Asia2,1482,5943,02387540.713,80318,0104,20730.5
North America1,1751,2801,59341835.67,7949,4161,62320.8
European Union46450156610221.92,9733,39642314.2
Andean Countries 1/44343555411125.22,8793,56668723.9
Mercosur 2/6016216969515.73,5964,20560916.9

1/ Andean Countries: Bolivia, Chile, Colombia, Ecuador and Venezuela.
2/ Mercosur: Brazil, Argentina, Paraguay and Uruguay.
Source: Sunat and ZofraTacna
Preparation: BCRP
IMPORTS ACCORDING TO PLACE OF ORIGIN
(USD Millions)
2026 July January - July

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The signatories' names appear on the last page. 27 / 28

Table II.10
BCRPData/NEBAL202607A10

Type of MaterialXMX-MXMX-MXMX-MXMX-M
T-shirts/Shirts4210334610363095625428455229
Coats/Jackets/Sweaters/Similar181531715279167-8971173-102
Shirts237162210121853814617242129
Pants/Shorts413-9317-132591-652598-73
Various45-146-23135-43040-10
Dresses321321221111211010
Hosiery16-413-2641-34629-24
Nightgowns/Pajamas41351422913241113
Baby clothes3213111614217134
Bras05-506-6031-31133-32
Gloves03-304-3119-18122-21
Special garments 1/0
Jackets (suits)0
Panties01011036-346-2
Skirts01001-144-134-2
Sets011024-237-3
Swimsuits012-101-1
Training clothes01-101-106-606-6
Underwear01-101-124-214-3
Girdles04-404-4
Suits01-102-203-3
Ski clothes0
Petticoat0
Total10573321058026709545164662562100

Note:

Type of MaterialXMX-MXMX-MXMX-MXMX-M
Cotton792752823250549189360506186320
Synthetic/Artificial1332-191233-2094272-17896280-184
Wool/Fine hair6066152131819415
Other fibers613-7515-94782-354192-51
Type of WeaveXMX-MXMX-MXMX-MXMX-M
Knit10039611014161678311367628314313
Non-Knit533-29439-3532234-20235248-213

1/. Made with plastic-impregnated fabric/rubberized fabric Source: Sunat Clothing trade balance (USD Millions) 2025 2026 July January - July

NOTAS DE ESTUDIOS DEL BCRP
No. 65 – September 15, 2026
System No.: INF-2020-000099
Signed with digital certificates issued by RENIEC. The signatories' names appear on the last page. 28 / 28

Table II.11
BCRPData/NEBAL202607A11

Index (2007=100)Var. month previousVar. 12 monthsIndex (2007=100)Var. month previousVar. 12 monthsIndex (2007=100)Var. month previousVar. 12 months
D.09106.31.045.3105.9-0.84.3100.41.939.2
D.10129.30.421.6116.8-0.710.3110.71.110.2
D.11137.8-0.86.6130.4-1.911.7105.61.1-4.6
D.12141.82.03.0128.10.5-1.8110.71.54.8
D.13122.9-1.0-13.3125.50.1-2.097.9-1.1-11.5
D.14114.1-2.0-7.2115.7-3.4-7.898.61.40.

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