Peru’s exports from January to November 2024 stood at US$67.558 billion, a 15.8% increase from the previous year. The rise is primarily attributed to robust performance in mining and agriculture, with traditional exports showing a 17.7% rise. Notably, November alone accounted for US$7.377 billion in shipments, marking the seventh consecutive month of growth. However, declines were noted in sectors such as fishing and textiles, prompting concerns from ADEX leadership.
Peru’s exports reached a remarkable US$67.558 billion during the period from January to November 2024, marking an impressive 15.8% growth compared to US$58.348 billion in the preceding year, as reported by the Peruvian Exporters Association (ADEX). This surge in export value is largely attributed to a robust performance in the latter half of the year, with significant contributions observed in the months of May through November. November alone witnessed exports valued at US$7.377 billion, reflecting a considerable 27% increase, constituting the seventh consecutive month of positive growth.
Despite the overall positive trend, ADEX’s Chairman, Julio Perez Alvan, cautioned against the downturn in specific sectors such as fishing for direct human consumption, non-metallic mining, wood, and textiles, which posted declines. Additionally, hydrocarbons in the primary sector experienced a 2% decrease. In contrast, sectors such as mining, agro-industry, and iron-steel experienced significant improvements, with the mining sector alone contributing US$41.980 billion in shipments, a 16.7% increase.
The report from the Global Economy and Business Research Center at CIEN-ADEX further outlined the specifics of traditional and non-traditional exports. Traditional shipments totaled US$49.099 billion, demonstrating a 17.7% increase, driven primarily by mining and agriculture sectors. Non-traditional shipments also saw an increase of 10.9%, with notable year-on-year growth for products such as blueberries.
In addition to providing detailed figures, the report emphasized the geographic distribution of exports. China remained the largest importer of Peruvian goods, followed by other significant markets such as India and Canada. Furthermore, regions such as Lima and Callao contributed notably to overall export growth, whilst the coastal area accounted for a majority of the shipments. The trade balance operated on a surplus of US$17.549 billion, underscoring the health of Peru’s trade situation.
Overall, the export data for Peru suggests a noteworthy resilience of certain sectors despite challenges in others, with a commendable overall increase in export value, particularly driven by mining and agricultural products.
Peruvian exports have been on an upward trajectory, highlighting the nation’s economic resilience and the strategic importance of its primary sectors, particularly mining and agriculture. The fluctuation in specific sectors reflects global demand patterns, environmental considerations, and changes in market dynamics. This growth period, especially notable in the last half of 2024, underscores the ongoing efforts by the government and industry stakeholders to enhance export capabilities, navigate challenges, and capitalize on emerging opportunities in international markets.
In summary, Peru’s export landscape has demonstrated significant growth from January to November 2024, amounting to US$67.558 billion, largely influenced by traditional sectors such as mining and agriculture. While challenges persist in specific sectors, the overall trend indicates a robust performance, particularly in the latter months of the year, indicating a promising outlook for future exports. The strong trade balance further highlights the effectiveness of Peru’s export strategies and market navigation.
Original Source: andina.pe
