Peru posts Feb trade surplus of $254 mln

LIMA, April 2 (Reuters) - With mineral exports falling, Peru's trade surplus fell by more than half in February, to $254 million from $575 million in the same month a year ago, a central bank official said on Thursday.

In January, Peru registered a $176 million trade deficit.

Prices for Peru's metals exports have plummeted because of the global economic crisis, which has begun to slow growth in what has been one of the world's fastest-growing economies.

Peru's economy expanded 9.8 percent last year. But growth is expected to ease to around 5 percent in 2009, according to government estimates.

In February, Peru's total exports were worth $1.78 billion while imports were $1.53 billion, said the bank official. In February of last year, exports totaled $2.46 billion.

In 2008, Peru's trade surplus shrank more than 60 percent to $3.09 billion from $8.36 billion in 2007.

The country is expected to post trade deficits this year and next. Peru's last annual trade deficit was registered in 2002. (Reporting by Teresa Cespedes; Writing by Dana Ford, Editing by Dan Grebler)