ELAN: Peru has trade surplus with European Union

LIMA, PERÚ - NOVIEMBRE11. Declaraciones de María Rosa Morán Macedo, representante de ELAN.Foto: ANDINA/Juan Carlos Guzmán Negrini.

16:07 | Lima, Nov. 17.

Peru had an important trade surplus with the European Union (EU) in the first quarter of the year after totaling US$1.22 billion exports, said Maria Rosa Moran, expert in Peru of the ELAN Biz project of the ELAN Program (European and Latin American Business Services and Innovation Network).

The expert in foreign trade noted that Peruvian exports to the EU between January and March this year amounted to US$1.22 billion, exceeding the amount of imports (US$1.02 billion).

Likewise, she said 50% of Peru's foreign direct investment (FDI) stock between 1980 and 2014 comes from the EU, especially from 13 countries.

About 37.9% of the total comes from Spain and the United Kingdom, and is mainly driven by their investment in communications (with a 29.7% stake), mining (25.6%), financing (16.5%), and energy (11%) sectors.

SMEs internationalization 

On the other hand, Moran explained the ELAN program seeks to intensify trade exchange, exports and investment between Europe and Latin America.

“To that end, we support internationalization of SMEs through this platform using technical information on how to do business in Peru,” Moran told Andina news agency.

The program services are provided in the following Latin American countries: Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico and Peru, which was the nation where it has been officially launched first.


Published: 11/17/2015