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Peru's foreign trade reaches US$28.8 billion in 1Q 2022

18:11 | Lima, May. 12.

Foreign Trade and Tourism Minister Roberto Sanchez on Thursday highlighted the strong performance of Peru's foreign trade in the first quarter (January-March) of 2022, which reached US$28.86 billion, a 21.6% increase compared to the same period in 2021.

This result was driven by national exports, which grew 23.2% year-on-year (US$16.241 billion) in said period, while imports recorded a 19.7% increase (US$12.619 billion).

The head of the Ministry of Foreign Trade and Tourism (Mincetur) underscored that the development of national exports is possible thanks to the government policy promoted by the President of the Republic Pedro Castillo.

The minister also highlighted the benefits of the trade agreements signed by Peru and the internal agenda to support entrepreneurs and businesspeople.

Moreover, he affirmed that the Executive Branch will continue to promote Peruvian exporters in addition to promoting and consolidating economic growth.

Explaining the first quarter results, the high-ranking official said that exports of metallic and non-metallic minerals grew 8.2% at the end of the first quarter of 2022. 

The export value of copper (which accounts for 32% of total exports), grew 9.5%, mainly due to the increase in international prices.

Exports of energy goods have also experienced significant growth in the first three months of this year. 

According to the figures, said sales totaled US$1.912 billion, up 174% year-on-year, mainly due to the increase in exports of liquefied natural gas (+318%).

 (END) NDP/CNA/RMB/MVB

Published: 5/12/2022
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