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Peru Trade Surplus Surges in July on Copper, Gold Exports

Sept. 12 (Bloomberg) -- Peru’s trade surplus jumped to its widest since at least 2003 in July on rising prices for the country’s copper, gold and zinc exports, the government said.

The Andean country’s trade surplus widened to $1.2 billion in July from $500 million a year earlier and $985 million in June, the country’s National Statistics Institute said in an e-mailed report.

Exports rose 40 percent to $4.14 billion in July, the agency said. Copper prices rose 32 percent in July from a year earlier, while gold climbed 37 percent. Exports also gained on demand for natural gas and fresh farm and fish products, the agency said.

Import growth decelerated as demand for consumer goods, wheat and crude oil eased. Imports climbed 19 percent to $2.9 billion, after climbing 41 percent the previous month.

Peru is the world’s third-largest copper and zinc producer and sixth-largest in gold. Metals account for two-thirds of exports.

The Peruvian sol weakened 0.1 percent to 2.7285 per U.S. dollar at 12:13 p.m. in New York.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

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