Peru is set to record the highest export growth rate in the region in 2026, with a projected annual expansion of 30%, bolstered by the prices of metals such as copper and gold, according to the Economic Commission for Latin America and the Caribbean (CEPAL by its acronym in Spanish)
In this regard, Peru would surpass Mexico (26%), the average for Latin America and the Caribbean (20%), Argentina (19%), Ecuador (16%), Brazil (16%), Colombia (15%), and Chile (13%).
Following export figures of $76.357 billion in 2024 and $93.993 billion in 2025, Peru is projected to reach $122.421 billion this year.
Regarding the export of services, CEPAL forecasts that Peru’s exports will grow from $7.643 billion in 2025 to $8.465 billion this year.
It also anticipates that Peru will achieve the largest expansion in its terms of trade within the region, with a growth rate of 25%—surpassing the projections for Chile (11%), Colombia (11%), Argentina (9%), Ecuador (6%), Mexico (1%), and the average for Latin America and the Caribbean (6%).
These findings are detailed in the recent report, "International Trade Outlook for Latin America and the Caribbean 2026: The Importance of Modern Service Exports and How to Promote Them."
The document notes that the evolution of foreign trade in Latin America and the Caribbean in 2026 reflects ongoing geoeconomic and geopolitical transformations.
“The reorganization of global value chains, the rising demand for critical minerals, and the expansion of industrial policies in advanced economies are creating new opportunities and challenges for the region,” it highlights.
“At the same time, major powers are increasingly using trade, technological, and financial instruments as tools for strategic competition, compelling Latin American and Caribbean countries to incorporate geopolitical considerations into their development, trade, and integration strategies,” it adds.
CEPAL notes that, in this context, the Latin American and Caribbean region is benefiting from the growing international valuation of its natural resources—particularly those linked to the energy transition, food security, and clean energy.
“However, the primary challenge is not merely to increase exports of raw materials, but to leverage these resources to drive activities with higher value-added, linked to innovation and technological development,” it emphasizes.
It further points out that the reconfiguration of global value chains could create opportunities to deepen the region’s international integration “through increased flows of trade, investment, technology, and productive cooperation.”
In an increasingly fragmented and uncertain international landscape, regional integration takes on renewed importance. Strengthening infrastructure, logistics, regulatory convergence, and regional value chains—alongside trade facilitation—can enhance the region’s economic resilience and competitiveness.
“Ultimately, the favorable trade environment of 2026 offers an opportunity to coordinate trade, industrial, technological, and investment policies. This could help build a more diversified, sustainable, and productive international integration—one capable of generating quality employment and long-term growth,” explains CEPAL.
Global Overview
The CEPAL report analyzes the current state of global and regional trade and outlines ten trends that are redefining global trade.
These are: 1) The strengthening of industrial and productive development policies; 2) The increasing instrumentalization of trade policy and geoeconomic fragmentation; 3) Global competition for critical minerals and strategic resources; 4) The growing importance of logistics infrastructure and regional connectivity; and 5) The reconfiguration of global value chains.
Furthermore: 6) Greater uncertainty and shorter, more unpredictable economic cycles; 7) The expansion of trade in services and digitalization; 8) The increasing importance of environmental regulations; 9) The strengthening of South-South trade and the growing significance of trade “blocs”; and 10) The reconfiguration of global governance.
CEPAL notes that, in a global landscape “marked by uncertainty and geopolitical and geoeconomic tensions, trade has nonetheless maintained remarkable dynamism.”
It points out that the volume of global trade in goods increased by 5.5% during the first half of 2026—a pace exceeding the 1.9% annual projection made by the World Trade Organization (WTO).
CEPAL explains that this notable growth in global export volume was driven by China and other developing economies in Asia, fueled by high demand for electronic components linked to the development and growth of artificial intelligence (AI).
It also highlights a “process of geographic reconfiguration of trade flows,” spurred by the geopolitical rivalry between the United States and China. Thus, in the first half of this year, U.S. imports from its largest Asian rival declined, while imports from countries in the Association of Southeast Asian Nations (ASEAN) and South Korea increased.
Regarding global trade in services, CEPAL notes that it continued to grow at a faster pace than trade in goods. By 2025, it reached $9.6 trillion, with an average annual growth rate of 6.6% over the last 10 years.
“This dynamism continued to be driven by modern services linked to digital technologies, AI, business services, and knowledge-intensive activities. Asia stood out as the most dynamic region, propelled by China and India,” CEPAL explains.
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(END) MDV / MDV
Publicado: 20/10/2026