Lima, Jul. 02 (ANDINA).- Peruvian exports would total 28.4 billion dollars in 2010 reported the Economic and Business Development Committee (IEDEP) of Lima’s Chamber of Commerce (CCL).
IEDEP's Executive Director Cesar Peñaranda said that imports in 2010 would amount to 27.7 billion dollars.
He added that this situation will be due to an improvement in prices of key export products and in volumes shipped.
"Next year, it is expected a recovery in the advanced economies, as well as an improvement in the prices of main Peruvian export products, mostly commodities, which would help to reduce deficit in current account," Peñaranda said.
He estimated that exports this year will total 24.7 billion dollars, lower than this year’s import level of 25.1 billion, which have also experienced a decline compared to previous years.
Peñaranda added that the current global recession has resulted in lower export volumes and a sharp fall in imports during the first half of the year due to inventory stock adjustments.
However, he noted that the greater dynamism of economic activity in the second half of this year will result in increased imports, which added to a slight fall in the terms of trade would lead to a negative trade balance for this period.
"Although the global economic recovery in 2010 would lead us to a positive trade balance," he said.
Peñaranda added that during the first half of 2009 the current account balance was deteriorated by lower global demand, the significant fall in the terms of trade and lower flow of remittances from abroad.
(END) JTR/RRR/AVC