Terms of trade, an indicator that reflects the relationship between export and import prices, increased by 17.3% year-on-year in May 2025, driven by a rise in export prices and a drop in import prices, the
Export prices rose by 10.2% year-on-year. The main products that saw increases were gold (40.1%), copper (13.1%), coffee (96.2%), and non-traditional fishery products (10.6%).
Meanwhile, import prices fell by an average of 6.1%, driven by lower prices for oil and derivatives (-29%) and industrial inputs (-5.5%).
Compared to the previous month, terms of trade rose by 4.6%, due to a 2.1% increase in export prices (driven by higher copper prices) and a 2.4% drop in import prices (due to lower prices for oil and derivatives), the issuing entity stated.
Favorable to exports
Indeed, the favorable terms of trade are benefiting exports.
The Ministry of Foreign Trade and Tourism (Mincetur) stated a couple of weeks ago that Peruvian exports continued their steady growth, reaching US$33.41 billion from January to May of this year. It meant a 22.3% increase compared to the same period in 2024.
It explained that this result was driven by a higher export volume (10.8%) and better international prices (10.4%), reflecting the positive momentum across nearly all economic sectors in Peru.
"In May alone, our exports grew by 13%, marking 13 consecutive months of expansion. We are confident that, through coordinated efforts between the public and private sectors, and by providing training and technical assistance to our companies, we will reach a new record of over US$77 billion by the end of 2025," Foreign and Trade Minister Desilu Leon underscored.
These figures represent a 23% increase compared to the same period last year.
In the first five months of the year, traditional agricultural exports reached US$209 million, while non-traditional agricultural sales abroad totaled US$4.352 billion.
The latter amount is 25.4% higher than that recorded in 2024, confirming greater access for Peruvian products to more markets worldwide.