Andina

Peru: 66.6% of total exports to U.S. are value-added products

Photo: Courtesy of Mincetur

Photo: Courtesy of Mincetur

12:05 | Lima, Jul. 16.

Thanks to the United States-Peru Free Trade Agreement, the North American country remains one of our main trading partners.

In fact, exports increased from US$4.729 billion in 2009 —the year the FTA entered into force— to more than US$7.168 billion in 2021 —of which 66.6% were value-added products, the Association of Peruvian Exporters (Adex) has reported.

Although the last two years were complicated due to the pandemic and a logistics crisis that pushed up the price of containers, preferential access to the U.S. market greatly helps the recovery of shipments and, therefore, Peru's growth.

According to the guild, this allowed the consolidation of a trade relationship with the world's leading economic power, which remained the main destination for non-traditional Peruvian exports.

Last year, the U.S. concentrated 29.5% of the total of those shipments (US$4.771 billion out of US$16.155 billion).

According to figures from the Adex Data Trade Commercial Intelligence System, these shipments went from accounting for 33% in 2009 to 66.6% in 2021 —with a good performance of foreign sales of blueberries and grapes.

Furthermore, Adex highlighted the impact of the FTA on the quality of life of Peruvians —namely citizens based in agricultural valleys on the coast where the growth of agro-exports generates full employment and turned these regions into important development poles.

Shared efforts

Thanks to the United States-Peru FTA and the public-private sector's work, the North American country in 2021 remained as the main market for value-added products (29.5% of the total) —followed by the Netherlands, Chile, Ecuador, and Colombia.

Total exports amounted to US$7.168 billion and registered an increase of 15.1% —of which US$2.397 billion was linked to primary products (+0.8%) and just over US$4.771 billion to non-traditional products (+24%).

The most benefited value-added sectors were agribusiness, fishing for direct human consumption, chemicals, iron-steel, and non-metallic mining.

The apparel sector —which has the United States as its main destination— reduced its share from 12% in 2009 to 10.3% last year.

The sectors that increased their shipments to the United States the most between 2009 and 2021 were chemicals (+502.3%), non-metallic mining (+462.8%), agribusiness (+372.2%), and iron-steel (+337.3%).

Events

In its eagerness to strengthen the exports chain, Adex held decentralized virtual forums in Huancavelica, Junin, Piura, Pasco, Ica, Tacna, and Cusco in 2021. It plans to resume them this year.

In the same way, and to reach more buyers from the United States and other countries, the Expoalimentaria fair will be held at Lima's Jockey Club Exhibition Center on September 21-23.

It is the most important fair for food and beverages in Latin America, as well as a meeting point for key players in distribution, retail, and specialized channels, both in national and international markets.

(END) NDP/VLA/MVB

Publicado: 16/7/2022