PROMPERU highlights the continued strong economic relationship with the U.S., generating growing numbers in tourism and Peruvian exports.
Peru’s economic ties with the U.S. have strengthened over the last decade. Both American tourism and exports to the States have grown exponentially, specifically agro and textiles exports.
Between 2009 and 2018, agricultural exports to the U.S. grew 13.9%, while textiles grew 1.3%, amounting to US $2.55 billion combined. The top exports today, including fish, corn, blueberries, manufactured windshield glass and calcium phosphate, did not exist before 2009.
Peru’s standing as the fourth fastest-growing economy in the region over the last decade can be attributed to the strong economic relationship with the U.S. and other countries with which it has trade agreements with.
Edgar Vasquez Vela, Peru’s Minister of Trade and Tourism, also attributes the reduction in poverty and extreme poverty with these high growth rates in exports. Tourism has also played its part.
In 2018, 14.5% of the total number of 4.4 million international tourists were American, an increase of 7.1% over the previous year. The trend continues onto this year, with 15.4% of the total number of international visitors coming in through August 2019 coming from the U.S.
Source: Yahoo Finance/PROMPERU press release
Cover Photo: Andina