Saudi Arabia —the surprise at Qatar 2022 World Cup— is also a strategic trading partner for Peru.
The Asian country supplies polymers for the Peruvian plastic industry, while the South American country covers part of goods for the consumption of fruit and other sectors.
"Between 2017 and 2021, our exports to Saudi Arabia reached almost US$50 million. This year, at the end of the third quarter, they totaled US$8.3 million, thus growing 24.2% compared to last year," Minister Roberto Sanchez
Regarding foreign trade, the best-positioned sector in the Arab country is agriculture. This explains 73% of total exports to said destination.
During the first nine months of 2022, shipments of Peruvian farming goods to Saudi Arabia reached nearly US$5.3 million. Within this framework, exports of fresh grapes (US$689,000) and fresh blueberries (US$307,000)
Iron-steel is another important sector in bilateral trade. Between January and September 2022, shipments of zinc alloys reached US$2 million —a value 220.1% higher than that registered in the same period of 2021.
For their part, chemical sector exports during the analyzed period totaled US$781,000 —a figure 387.9% higher than that registered in 2021. In said sphere, orthoboric acid was the most outstanding chemical product —with shipments worth US$651,000 (+525.6%).
"The iron-metallurgical and chemical sectors are the ones that have grown the most, in terms of Peruvian exports to Saudi Arabia. From Mincetur (Ministry of Foreign Trade and Tourism), we are playing a separate game to strengthen the development of our foreign trade and continue to position our products around the world," the official added.
Minister Sanchez also stated that Peru's trade policy of integration with the world has been achieving a positive impact on Peruvian economy and the country's regions.
The Cabinet member argued that, thanks to the joint efforts by public and private sectors, Peru has been achieving an important exports performance.