Andina

Moody's: US-China trade war does not significantly affect Peru

Moody’s

Moody’s

12:48 | Lima, Jul. 5.

Moody's Investors Service Vice-President Jaime Reusche ruled out a trade war between the United States and China may considerably affect Peruvian economy.

"You are still exporters of raw materials and, in fact, trade wars do not have a great impact on this issue," the senior analyst noted.

Likewise, he pointed out Peru's level of trade openness is low if compared to those of countries with higher trade volumes.

"Peruvian exports and imports account for 50% of Gross Domestic Product (GDP)," Reusche told Andina news Agency.

"In many other economies a little more open (to the foreign trade), we notice they make up 80% or more (…)," he added.

According to Reusche, trade conflicts between the United States and China affect —to a greater extent— exports of manufacturing products and intermediate goods.

"Thus, at present, we do not see many risks regarding foreign trade, at least not for Peru," he concluded.

(END) MDV/JJN/JAA/MVB

Published: 7/5/2018
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