Peruvian exports are estimated to total US$47.151 billion in 2020, a 3.5% rise compared to 2019, said Erik Fischer, chairman of privately-run Association of Peruvian Exporters (Adex).
This year, he said, shipments are projected to reach US$45.575 billion, of which US$32.106 billion will correspond to primary products and US$13.469 billion to non-traditional products, thus accounting for 70% and 30% of the total, respectively.
The slower pace of global growth is expected to last until the first quarter of next year, along with the currency devaluation at a higher rate than the domestic currency (the Peruvian sol).
Traditional shipments
On the other hand, Fischer said that
traditional exports, which have declined since last August, are likely to fall to its minimum level by June 2020 and, starting that month, "are expected to start growing" to end 2020 with a growth of 3.1%, totaling US$33.108 billion.
As for
non-traditional exports, which are slowing down, they will continue so until the second quarter of next year, waiting for the economic recovery of neighboring countries.
"They (non-traditional exports) are expected to post a 4.3% growth by the end of 2020, totaling more than US$14 billion," he stated.
For this reason, Fischer explained that exports materialize thanks to productive capacity and competitive conditions.
Finally, he stressed the need to work on matters of institutional order, competitive improvements, and a climate conducive to investments in order to see growth rates of over 14%.
(END) MDV/RMB/MVB
Published: 12/30/2019