Andina

Peru: Chancay Megaport to boost export growth

Photo: ANDINA/Daniel Bracamonte

Photo: ANDINA/Daniel Bracamonte

12:04 | Lima, Nov. 26.

Prime Minister Gustavo Adrianzen highlighted the growth of Peruvian exports in the third quarter of this year, with a 10.4% increase compared to the same period in 2023.

According to the National Institute of Statistics and Informatics (INEI), Peruvian exports grew by 10.4% in the third quarter.

Additionally, according to the Central Reserve Bank (BCR), private investment increased by 4% during the same period.

The high-ranking official said this result "reflects the Peruvian economy's strength and the effectiveness of the policies implemented to position Peru in international trade."

"The development of our exports proves that we are making steady progress toward the consolidation of economic recovery," Adrianzen noted.

"With the launch of the Chancay multipurpose port terminal, which will facilitate connectivity with new markets, and the bilateral agreements and commitments reached during the Asia-Pacific Economic Cooperation (APEC) Leaders' Week, I am convinced that we will continue to boost our exports and strengthen international trade for the benefit of Peru," he stated.

According to Technical Report No. 4 by INEI, exports of traditional and non-traditional products were driven by key sectors such as fishing, mining, and agriculture in the third quarter of 2024.

The Cabinet chief specifically highlighted the increase in fishmeal exports, which expanded by 564.9%, followed by coffee (48.7%), gold (20%), and molybdenum (10.6%).

"This growth reflects the enormous potential that Peru has to compete in international markets, not only in extractive industries like mining, but also in agricultural and manufactured exports. The diversification of our exportable products, especially in strategic sectors, will be key to continuing our growth and consolidating ourselves as a reliable global partner," he underlined.

Imports also showed 8% growth in the same period, driven by higher acquisitions of capital goods and construction materials (13.3%).

This increase in imports reflects greater domestic demand due to the ongoing economic recovery, the Presidency of the Council of Ministers (PCM) stated.

(END) NDP/OPG/CVC/MVB

Published: 11/26/2024