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Peru: Exports projected to exceed US$40 billion in 2017Tuesday, April 18, 2017 > 12:25:38
Peru's exports to the world may exceed US$40 billion this year, the Association of Peruvian Exporters (Adex) projected.
The result would lead to a 10% increase compared to the amount (US$36.05 billion) registered last year.
According to Adex Chairman Juan Varilias, projection is based on a better economic environment surrounding main global markets.
In this sense, 25% of foreign trade operations (US$10 billion) this year would be driven by non-traditional exports, Varilias highlighted.
Likewise, a better performance of main Peruvian exports destinations is expected. The United States, Asia and Europe are those markets.
"Exports to the United States, our main destination, would experience a higher dynamism [...]," Varilias told Andina news agency.
In addition, he recalled China boosts an intensive real estate investment promotion plan. Thus, the Andean country is expected to continue exporting raw materials to the Asian Giant.
The Adex Head also said agro-exports to the European Union will see a slight increase, since Spain is becoming a great food supplier to this trading bloc.
The officer also underlined minerals will experience better results than those reported in 2016. They will be mainly underpinned by higher commodity prices.
On the other hand, coffee remains on the constant recovery phase.
However, Adex agro-exports projections were revised downwards, because crops had been recently affected by "Coastal El Niño" climate phenomenon.
Furthermore, Varilias stressed there are great expectations for a likely Free Trade Agreement with India.
"At this moment, it [India] is one of the most developed countries. A bilateral trade agreement would open many doors to us, taking into account it hosts more than 1.30 billion consumers," he said.
The businessman believes there will be new opportunities ahead for Peru to expand its list of target markets over the following years.