Andina

Peru: Exports accounted for 26.2% of GDP in 2024

Photo: National Society of Industries (SNI)

Photo: National Society of Industries (SNI)

00:07 | Lima, Mar. 1.

Total Peruvian exports amounted to US$75.916 billion in 2024, reflecting an annual increase of US$8.398 billion (+12.4%), the Central Reserve Bank (BCR) reported.

This amount represented 26.2% of GDP, up from 25.2% the previous year, driven by the rebound in the export value of traditional and non-traditional agricultural products.

According to the issuing entity, this greater dynamism is mainly explained by higher traditional exports from the mining (+11.5%) and fishing (+100.3%) sectors.

In the first case, the result was due to higher international prices, while in the second, due to greater shipment volumes of fishmeal and fish oil.

On a quarterly basis, exports totaled US$21.08 billion in the fourth quarter of 2024, representing a year-on-year expansion of US$2.778 billion (+15.2%).

This greater dynamism is primarily explained by higher prices for metals such as gold, copper, and zinc, as well as coffee, along with elevated prices of non-traditional products from the fishing (+25.7%), chemical (+7.2%), and iron-steel (+15%) sectors.

Secondly, the shipped volumes of non-traditional products grew by 13.4%, driven by the agricultural sector (+23.4%), due to the recovery in fruit production —mangoes, blueberries, and grapes— which had been affected by climate anomalies toward the end of 2023.

Likewise, iron-steel and textile goods stood out, boosted by higher demand for copper manufactures for U.S. data centers and an increase in garment exports to the United States.

(END) NDP/JJN/MVB

Publicado: 1/3/2025