Peru’s imports of construction steel plunged in March

Peru’s imports of capital goods and construction materials in March, led by decreases in steel imports, were down 20 percent compared to March 2008, announced Peru's National Superintendency of Tax Administration (SUNAT).

While Peru's imports of capital goods for agriculture saw an increase of 60.1 percent, mainly because of the increased imports of machineries and tools, all other sectors declined. In contrast to the increase in agricultural capital goods, Peru's industrial capital goods imports in March went down 12.8 percent compared to the same month of last year. This figure was partially offset by an increase in purchases of parts and accessories for industrial machinery of 24.1 percent.

The hardest-hit segment of Peru's March imports was building materials. The 44.8 percent fall in imports of building materials reflects the decrease in purchases of imported semi-finished building materials, which dropped 57 percent, and finished construction materials, which went down 40.9 percent. SUNAT said the most notable declines in this area were in the purchases of pipes used in oil and gas pipelines, unalloyed rods with notches, profiles, and rolled steel.

Other year-over-year import figures for March released by SUNAT were as follows: transport equipment imports decreased 25.5 percent; purchases of other fixed equipment showed a decline of 31.2 percent; tools went down 16.5 percent; office machinery and scientific services dropped 15.2 percent; and industrial machinery decreased 9.1 percent.