Peru trade surplus more than doubles

Peru's trade surplus more than doubled in July from the same month a year earlier due to an increase in the dollar amount of traditional commodity exports such as minerals, the central bank said on Friday. The trade surplus posted was $1.15 billion, compared with $473 million in July 2010. Peru's trade balance was $831 million in June of this year.
The fast-growing Andean economy is the world's No 2 copper and silver producer and the sixth largest gold producer. Peru's metals production has been falling in recent months but prices paid for metals on international markets have remained high. Peru's overall exports in July grew by 41 percent from the previous year to $3.3 billion. Minerals accounted for 60 percent of its exports. Imports, meanwhile, grew by 20.1 percent to $3 billion due to more purchases of capital goods, the central bank said.