Traditional products like copper and oil —and its derivatives— were the engines of Peru's export growth in 2017, Lima Chamber of Commerce's (CCL) Foreign Trade Research and Development Institute (Idexcam) reported.
According to Idexcam, exports expanded 21% by end-2017, thus totaling US$44.058 billion.
Likewise, traditional exports amounted to US$32.366 billion. The mining sub-sector went up 25% (US$26.267 billion), while oil and its derivatives grew 51% (US$3.490 billion).
"This was due to an increase in copper and oil prices in the international market, which stimulated an upturn in the traditional sector […]," Idexcam Executive-Director Carlos Posada said.
Meanwhile, non-traditional exports rose 8% to US$11.692 billion last year, compared to 2016.
The sub-sectors that contributed to such growth were farming (+8%, US$5.075 billion) iron and steel (+16%, US$1.149 billion) and textile (+6%, US$1.269 billion).
In the case of farming, the most demanded products were grapes, avocados, asparagus, and blueberries.