UPDATE 1-Peru posts record $452.3 mln trade deficit in April
(Reuters) - Peru posted a trade deficit of $452.3 million in April, the biggest monthly deficit on record, central bank data showed on Tuesday.
Last year Peru registered a $41.8 million deficit in April. Imports have been rising in the country's fast-growing economy even as prices and volumes for its metals exports slip.
In March the economy slowed to grow just 4.8 percent in the first quarter compared to the same period a year ago on weak metals prices, prompting President Ollanta Humala to vow to do more to encourage investments in the Andean nation.
Peru is a top global miner of copper, gold and silver. Mining has traditionally powered the economy, but surging domestic demand has led growth in recent years, offsetting weak exports amid slumping demand abroad.