Andina

Peru: Exports up 13.8%, totaled US$46.799 billion from Jan to Aug 2024

00:09 | Lima, Oct. 7.

Foreign Trade and Tourism Minister Desilu Leon stressed that Peruvian exports of goods grew 13.8% during the first eight months of this year, reaching US$46.799 billion, which is US$5.681 billion more than in the same period in 2023.

The Peruvian government official indicated that these rise in exports was due to greater contributions from the Peruvian economy's main sectors: fishing (27.3%), agriculture (+18.9%) and mining (+14.5%).

In the fishing sector, exports of fishmeal and fish oil increased due to anchoveta extraction recovery.

Shipments of canned fish (+63.4%) and frozen fish (+19.9%, including fresh and dried fish) also grew, offsetting lower external sales of giant squid (-54.8%).

In the agricultural sector, the main highlights were the increased sales of cacao beans (+328%), thanks to the strong rise in international prices, and coffee (+74%).

Fruit shipments -which account for 50% of the country's agricultural exports- continued to increase (+9.8%), mainly of blueberries (+38.7%) and avocados (+28.5%).

In mining, greater sales of gold stood out (+56.2%), which is the second most important product exported by Peru.

Copper shipments -which account for one third of Peruvian exports of goods- rose by 1.6% in the January-August period, totaling US$15.206 billion.

Exports of tin (+38.8%), molybdenum (+16.6%), and iron (+13.8%) also grew in this sector.

During the period from January to August, 17 regions increased their exports: Puno (+109%), Ucayali (+95%), Huanuco (+90%), Amazonas (+57%), Loreto (+43%), Ancash (+25%), Tacna (+24%), Pasco (+22%), San Martín (+18%), Ica (+15%), Moquegua (+15%), La Libertad (+14%), Cajamarca (+5%), Ayacucho (+4%), Junin (+4%), Arequipa (+4%), and Madre de Dios (+3%).

"The dynamics of foreign trade are based on the implementation of a policy developed consistently over the past 20 years, which has been yielding results. Exports continue growing, and the Government is committed to continuing on this path," Minister Leon stated on October 4.

"The figures we present demonstrate the importance of the sector for Peru's economic growth, job creation, and increased family consumption," she added.

The minister noted that work is underway to ensure that, by the end of 2024, Peru can record, as in previous years, a new export record, driven mainly by the joint growth of Peru's main economic sectors.

So far in 2024 (January-August), the number of exporters rose by 3.8%, reaching a total of 8,146.

Peruvian companies exported goods to 170 markets, mainly China (35% of the total), the United States (13%), and the European Union (11%).

The Ministry of Foreign Trade and Tourism (Mincetur) indicated that, in August alone, exports grew by 26.4% compared to the same month in 2023, totaling US$6.718 billion.

(END) NDP/MVB

Published: 10/7/2024