IKN

Trifles light as air

Chart of the day is…

..Peru’s import and export figures per month, January 2008 to August 2009.

The latest imports figure came out over the weekend (exports for August not available yet) and the number was 31.4% down from August of 2008. Also, there are are two more hevy impex months (Sep and Oct 2008) to burn through before Peru gets YoY numbers that it can improve upon.

On the plus side, there is clearlt a slow, gradual increase in the monthly numbers for 2009. This is as much to do with the typical 12 month business cycle as anything else, but it must be a positive that the last four months have shown continued improvement.

The bottom line is that Peru has been through a hard landing, though you’d never believe it the way the idiots that ran them over the cliff are lauded by the idiots that encouraged them. But life goes on and the world has decided it wants copper and gold in 2009. Peru got lucky.

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