Peru-China bilateral trade up 14% in 2018

00:00 | Lima, May. 15.

Peruvian and Chinese economies grew more than 3% in recent years, according to the Inca nation's Foreign Trade and Tourism Ministry (Mincetur).

The dynamics of both countries made bilateral trade triple over the past 10 years, reaching a record high of US$23.268 billion last year.

Only in 2018, bilateral trade grew 14% due to greater exports (+14%) and imports (+13%), while trade balance increased to US$3.173 billion.

China is the top destination for Peruvian exports, accounting for 13.7% of foreign shipments in 2018.

These sales are primarily composed of two products: copper and fishmeal (81.7%). However, in the last years, China has demanded other products.

In 2018, Peruvian exports to China were driven by higher hydrocarbon (72%), chemical (35%), farming (24%), and mineral (14%) shipments.

As for non-traditional exports, Peru experienced a 3.6% decline last year. Nevertheless, the export value reached US$470 million, considerably exceeding exports to countries like Mexico, Argentina or Australia.


Published: 5/15/2019
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