Peru’s exports surged to US$67.558 billion from January to November 2024, a 15.8% rise from the previous year, driven notably by positive trends in mining and agriculture. November alone recorded US$7.377 billion in shipments, marking the seventh consecutive month of growth. Despite this overall success, certain sectors like fishing and textiles showed declines, raising concerns from ADEX leadership. The country maintained a trade surplus of US$17.549 billion.
Between January and November 2024, Peru’s exports reached a total value of US$67.558 billion, marking a 15.8% increase compared to the same timeframe in the previous year when exports totaled US$58.348 billion. This growth was significantly bolstered by strong performance in the last seven months, as reported by the Peruvian Exporters Association (ADEX).
In November alone, shipments surged to US$7.377 billion, reflecting a remarkable 27% increase. This marks the seventh consecutive month of rising exports, with individual months showing significant growth: May (+27.9%), June (+11.8%), July (+36.6%), August (+29%), September (+17.8%), and October (+12.3%). Despite the positive cumulative figure, ADEX Chairman Julio Perez Alvan expressed concern regarding declines in five sectors over these eleven months: fishing for direct human consumption (-24.2%), non-metallic mining (-13.2%), wood (-13%), textiles (-0.9%), and hydrocarbons in the primary sector (-2%).
The global economic landscape is witnessing varied performance across sectors, with Peru showing a robust increase in exports driven by traditional products. The evolution of mining and agricultural sectors is contributing significantly to this trend. Entities like the Global Economy and Business Research Center provide insights into trade dynamics, analyzing shifts in demand and corresponding impacts on export and import balances.
In summary, Peru has exhibited a significant increase in exports for the period of January to November 2024, achieving US$67.558 billion, up 15.8% year-over-year. The performance highlights a dual narrative, with substantial growth in several sectors, particularly in mining and agriculture, while also acknowledging notable declines in others. Such dynamics emphasize the need for strategic focus on underperforming sectors to sustain growth. The trade balance remains positive at a surplus of US$17.549 billion, underpinning the country’s economic resilience.
Original Source: andina.pe
