Peru's non-traditional and traditional exports reached record highs in 2021, which are explained by higher volumes, in the first case, and better prices, in the second case, the
Central Reserve Bank (BCR) reported on Thursday.
In the case of
non-traditional exports, they reached a record high of US$16.372 billion in 2021, which represented a growth of 28.2% compared to 2020 and an increase of 18.5% compared to 2019.
This result was mainly driven by higher shipments and, to a lesser extent, by a price effect.
According to the BCR, the export volume rose 20.2% over 2020 (16% from 2019) due to greater shipments of textile, non-metallic mining, iron-steal, and farming products.
This volume growth exceeds the average growth rate of the past 10 years between 2012 and 2021 (4.7%) and of the previous decade between 2002 and 2011 (9.5%), when export volumes grew at two-digit rates.
Traditional exports
For their part,
traditional exports reached a record of US$46.541 billion last year, a rise of 55.1% compared to the previous year and of 36.8% compared to 2019.
This recovery was driven by higher commodity prices, which reached new record highs.
An important fact to be highlighted is the growth in the price of natural gas (355.8%), due to cold weather in Asia and other supply and demand shocks that affected the market of this product.
As for the volume, the issuing entity revealed that it saw an increase of 10.4% compared to 2020, but remains below pre-pandemic levels.
(END) NDP/VLA/RMB/MVB
Published: 2/17/2022