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.
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.