Peru: National Exportation Report

Peruvian exports to the EFTA countries grew 40% in 2007

In 2007, Peruvian exports to the European Free Trade Association (EFTA), formed by Switzerland, Norway, Iceland and Liechtenstein, totaled 2.4 billion dollars, a 40 percent increase compared with 2006, reported the Peruvian Exporters’ Association (Adex). Traditional products represented 99 percent of the total exports with sales reaching more than 2.3 billion dollars. This growth was driven by the mining sub-sector, which accounted for nearly 98% of the exports, where gold sales totaled 2.3 billion dollars, zinc ($4 million 707 thousand) and refined silver (one million 307 thousand dollars). Considering the non-traditional sector, the exports of the iron and steel industrial sub-sector reached six million 436 thousand dollars. Aside from minerals, other imported exported products were asparagus, cotton shirts, alpaca wool and others. (ANDINA – click here to read complete article)

Peru’s Camu-camu exports reached US$ 4.98 million in 2007

Camu-camu and byproduct exports totaled 4.98 million dollars in 2007, registering a 127 percent growth regarding last year, reported today Peru’s Exporters Association (Adex). This result was boosted by the Japanese market, which elaborates a "sport drink" made with camu-camu that is in great demand among school children. This product favors the sales strategy to export products of higher added value. The camu camu’s growing demand encouraged many important Japanese companies to elaborate drinks (yogurt, tea and energy drinks) and nutritional supplements based on this natural product. For example, in mid 2007, the famous hamburger maker McDonald’s included a camu- camu and kiwi flavored yogurt in their product list, valued at 200 yen (1.60 dollars). (ANDINA – click here to read complete article)

Peru’s central government to post 2008 surplus despite higher spending

Peru’s central government would post a small overall surplus in 2008 despite planned higher spending, due to an expected growth in tax revenue, the investment bank Credit Suisse said today. The head economist of Credit Suisse’s Latin America Research Department, Carola Sandy, said that tax growth in 2008 wouldl remain high, as mining companies would pay taxes based on their 2007 profits. “Thus, even if the government spends more, the 2008 budget law envisages a sizable increase in spending but budget under-execution is pervasive, we do not expect the fiscal surplus to disappear completely”, she stated. Primary expenditures reached 50 billion dollars in 2007, up 13.4 percent in real terms relative to 2006. While non-interest current spending was up 12.5 percent in real terms and capital expenditures rose 19.2 percent in real terms. (ANDINA – click here to read complete article)