Andina

Peru's exports to Australia up 37.1% between Jan and Nov 2020

Photo: ANDINA/Ministry of Foreign Trade and Tourism of Peru

Photo: ANDINA/Ministry of Foreign Trade and Tourism of Peru

13:37 | Lima, Feb. 4.

The value of Peruvian exports to Australia reached US$116 million between January and November 2020, which meant an increase of 37.1% compared to the amount registered in the same period in 2019, the Peruvian Foreign Trade Society (Comex-Peru) reported on Thursday.

According to the business guild, this growth may have been driven by the Free Trade Agreement (FTA) signed with the aforementioned country —and in force since February 2020— which reduces the tariff burden and boosts investment.

"It is important that Peru continues to take advantage of current trade agreements, such as the FTA with Australia, a country recognized as a relevant trading partner, mainly for our mining, fishery, and agricultural products," said Comex Peru General Manager Jessica Luna.

Thus, between January and November of last year, Peruvian exports to Australia were led by shipments of products from the traditional fishery sector —with a value of US$38.7 million and a growth of 56.9%.

Traditional mining exports worth US$36.9 million (+145.2%) also stood out. These were composed of products from the farming sector —with shipments valued at US$17.3 million (+1%) and chemical products (US$4.5 million; +56.6%).

Traditional exports

In the traditional mining sector, the top products were lead and concentrates (US$21.2 million; +42.6%), as well as copper and concentrates (US$15.6 million; +155,800%).

Concerning traditional fishing, fishmeal (US$16.2 million; +89.7%), as well as raw fish fats and oils stood out with exports worth US$13.4 million (+37.6 %).

Non-traditional exports

Within this framework, the shipments of agricultural products that stood out were mango (US$1.6 million; +115.3%) and asparagus (US$1.4 million; +20.8%).

Imports

On the other hand, imports from Australia also registered an outstanding performance between January and November 2020, registering an accumulated value of US$103 million —a figure 1.9% higher if compared to the same period in 2019.

(END) NDP/VLA/SDD/MVB

Published: 2/4/2021