Peru’s total exports will surpass US$51 billion in 2018, thus marking a record high since 2012 (US$46.33 billion), privately-run Foreign Trade Society (ComexPeru) projected Tuesday.
According to ComexPeru Head Alfonso Bustamante, the Inca country must maintain the same growth pace registered between January and April 2018 (17.9%) in order to achieve that record.
It must be noted Inca exports amounted to US$15.405 billion in the first four months of the current year.
Traditional and non-traditional
Traditional exports totaled US$11.243 billion in Jan-Apr 2018, up by 17.1% over the same period last year.
This positive result was mainly underpinned by greater foreign sales from the mining sector (US$9.428 billion; +23.1%).
Similarly, non-traditional exports reached US$4.162 billion, a 20.1% increase compared to the similar period in 2017.
Said growth was driven by higher shipments of farming products (US$1.741 billion; +25%).
Mining and agriculture sectors
“The country’s main export product derives from the mining sector, and (metal) prices are rising because the world is growing and more copper is required, as well as other goods of which Peru is a leading producer,” the officer noted.
Another important sector for exports is the agro-industry, as it not only generates revenue in foreign currency but also creates demand for labor.