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9/7/09

Chart of the day is..

...a breakdown of Peruvian exports by month, 2007 to date.

This chart was part of the section overview on Peru in yesterday's IKN Weekly. I still fondly remember the days when they told us that Peru wasn't dependent on mining any longer. Apropos of this, Peru's export people ADEX (which is run by a dumbass, by the way) told us this weekend that volumes of exports are up 2.9% in the first seven months of the year. However the value of those exports are down by 8% and that even includes all the sugar they've been selling at a 243% premium to last year.

Deflation, what deflation?