Expected 2017 Exports Highest In Five Years

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The growth was driven by increased global demand for the mining and agricultural sectors.

By the end of 2017, Peruvian exports will total USD $44.7 million, reaching their highest level since 2012. This represents a growth of 23% from last year. (USD $36.3 million) This year’s exports represent approximately 21% of Peru’s GDP.

This growth would be driven by bigger shipments from the mining and agricultural sectors. The traditional sector would grow 29% more than in 2016 and total US $32.9 million, due to a higher volume and price of metals such as copper. Meanwhile, the non-traditional sector would reach a value of USD $11.7 million, 9% more than in 2016.

Likewise, Peru’s main trading partners continue to be China, followed by the United States, Switzerland, South Korea, India, among others.

Regarding imports, until October of this year, imports totaled USD $32.8 million, 9.2% more than in the same period last year. The increase in imports should not be seen as a negative event for Peru because it is buying machinery that will generate greater production and growth and economic development for the whole country.

In the indicated period, intermediate goods (mainly inputs for production) represented 46% of total imports, and capital goods (machinery and equipment), represented 30%. Meanwhile, with respect to imports for consumption, these represented 24% of the total purchased.

(Source)
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Aris Sandrea

A native of Zulia, Venezuela. Aris joins linvinginperu after moving to Lima to work as a content creator. Bachelor’s degree in accountancy and 2 years of experience as a professional article writer and community manager. Watching movies and series, reading books and riding the bicycle is some of his preferred activities. Passionate about the idea of traveling the world to learn more about other cultures. Contact: aris.sandrea@gmail.com