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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Peruvian exports totaled US$44.058 bn in 2017

Thursday, February 01, 2018 > 09:40:13
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Andina

Peru's total exports reached US$44.058 billion in 2017 —a 22.7% increase from the previous year— mainly underpinned by the positive performance of mining and agricultural sectors, the Association of Peruvian Exporters (Adex) reported.

It must be noted this result marks the second year of continuous growth and exceeded Adex's 2017 export forecast.

Adex Head Juan Varilias recalled the guild had projected —late last year— Peruvian exports would experience a 20.2% expansion.

Furthermore, he noted the Inca country must maintain an exports growth rate of 15% in the coming years to reach the Government's target of doubling shipments by 2021.

The official also suggested non-traditional product exporters to continue diversifying their markets and presentations.

According to the IMF World Economic Outlook, the United States will expand 2.7% this year, whereas China and the Euro Zone will grow 6.6% and 2.2%, respectively.

"There is no doubt, it is time to take advantage of our main trading partners' projected [GDP] growth," he expressed in this sense. 

Mineral prices

Likewise, Adex informed traditional shipments rose 27.9% last year, thus totaling US$32.364 billion, mostly driven by higher sales of copper and gold. 

Likewise, traditional exports accounted for 73.4% of Peru's total shipments.

On the other hand, non-traditional exports amounted to US$11.693 billion, a 10% rise compared to 2016. They made up 26.6% of the country's total sales abroad.

It must be noted top destinations for Peruvian non-traditional products were the United States, the Netherlands, Ecuador, and Chile.


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