Peru ran up a record US$176.2 million trade surplus with Switzerland in the period between January and June this year, the Peruvian-Swiss Chamber of Comerce reported on Friday.
Peruvian exports to the European country were worth US$187.5 million in the period under review while imports from Switzerland amounted US$11.3 million, leaving a trade surplus of US$176.2 million.
In this year's first half, Peruvian exports to Switzerland dropped 33 percent while imports surge 60 percent. Despite this, the trade balance remained positive for the Andean nation.
Switzerland, one of the world's most important financial centers, is currently Peru's third largest export destination. Peru mainly exports that country gold, fishmeal, oils, coffee, wool and cotton products.
It is worth mentioning that since 2012, Peru has a free trade agreement (FTA) with the states of the European Free Trade Association (EFTA) namely Switzerland, Iceland, Liechtenstein and Norway.
Likewise, Peru and Switzerland signed in 2012 a double taxation agreement (DTA), which allow businesses operating in the two countries to pay tax in one of the jurisdictions and avoid taxation in the other, encouraging trade and investment between the two nations.
(END) JJN/DLG
Published: 9/6/2014