Andina

Peru: Exports to U.S. might exceed US$7.8 billion in 2018

14:45 | Lima, Sep. 10.

Peruvian exports to the United States might exceed US$7.8 billion by the end of 2018, thus expanding for third consecutive year and marking a new record, Foreign Trade and Tourism Minister Rogers Valencia projected.

According to him, shipments to the North American country reached US$3.679 billion in the first half of the current year, a 26% increase compared to the same period in 2017. 

As is known, Peruvian exports to the United States expanded by 25% and 11% in 2016 and 2017, respectively.

It should be noted this dynamism started after the United States-Peru Free Trade Agreement (PTPA) entered into force in 2009. 

Shipments

By June 2018, Peru has exported not only minerals but also added-value products such as fruits (+18), vegetables (+9), textiles and garments (+12%), as well as items from the metal-mechanic (+52%) and chemical (+3%) sectors, among others. 

With regard to products, blueberries (+316%), tangerines (+66%), grapes (+62%), mangoes (+25%), t-shirts (+12%), and giant squid (+10) stood out. 

Furthermore, between January and June 2018, total exports to the U.S. were driven by traditional goods such as hydrocarbons (US$717 million), gold (+6%), and molybdenum (+79%). 

Foreign Trade Information

The United States is the second-largest target market for the Inca country's products, after China. 

This is the outcome of the U.S.-Peru FTA, as well as traditional and non-traditional exports increase

Concerning non-traditional shipments, the North American country is the top target market for Peru, accounting for 25% of total exports, which amounted to US$1.615 billion (+11.2%) in the first half of 2018.

(END) MDV/MDV/DTK/MVB

Published: 9/10/2018