Peruvian exports reached US$3.39 billion in October 2016, an 11.5% increase over the same period last year (US$3.04 billion), thus cementing itself on the road to recovery, the Association of Peruvian Exporters (Adex) reported.
As a result, Peruvian shipments recorded a 3.8% accumulated increase for total shipments in the January-October 2016 period (US$28.6 billion), Adex President Juan Varilias said.
Varilias went on to specify that traditional exports for January-October posted a 7% growth (US$20.05 billion in total), whereas non-traditional exports dropped 3% (US$8.55 billion).
“The recovery is gradually extending to include more sectors, as evidenced by the 16.2% rise in traditional exports and the 1.2% increase in non- traditional in October,” the guild leader pointed out.
Traditional agricultural products
Varilias highlighted agricultural traditional shipments recorded the highest growth among primary commodities, accumulating 21.8% in the January-October period. The biggest impact in this group was caused by mining exports, which increased 11.4%.
He added that, while shipments in the oil and gas sub-sector declined 16.7% in the January-October period, they went up by 39% in October.
Non-traditional shipments
On the other hand, accumulated non-traditional shipments (US$8.55 billion) declined 3%, as only one out of its 10 sub-sectors registered a positive performance.
“The scenario remains virtually the same for accumulated exports, since agricultural-industry shipments grew by 10.5% in October. However, this wasn’t high enough to offset the performance at the beginning of the year, so accumulated average growth stood at 5.9%,” Varilias explained.
Regarding manufacturing, October saw a rise in garment shipments (5.1%) and the various sub-sector (1.3%).
China, main destination
The Asian Giant led Peru’s main exports destinations over the first ten months at US$6.61 billion (11.2%), followed by the United States (18.2%).
Other destinations were Switzerland, Canada, South Korea, Brazil, Japan, Spain, Chile, the Netherlands, Germany and India, among others, from a total of 172 countries.
(END) SDD/JJN/DHT/RMB
Published: 12/3/2016