ADEX, the Peruvian Exporters Association, informed in their latest press release that Peruvian exports increased by 7% in 2016 compared to the year before totaling US$ 36,054 million.
Even though this amount is the second lowest in six years, it seems that the Peruvian economy has overcome the downward trend of the past years and is back on the right track.
The positive performance of last year is mainly attributed to increasing growth rates in the mining sector (+14.4%) and the agriculture sector, with its subsectors traditional (+21.4%) and non-traditional (+6.1%).
The mining sector was driven by a larger export volume of copper (+47%) including the stabilization of the copper price during the last few months and gold (+2.6%) with a price increase of 7.5%.
The traditional agriculture sector profited from a larger export volume of coffee (+32%) which easily made up the falling price (- 6.3%).
Top trading partners in 2016 for these primary exports were China, the US, Switzerland, Canada, South Korea and Japan.
Non-traditional exports, however, didn’t really get off the ground and decreased 1.4%. Here especially the textile subsector (-19.1%), the metalworking subsector (-16.8%) and the logging subsector (-15.1%), but as well the non-metallic mining subsector (- 8.4%), the chemical subsector (- 5%) and the fishing subsector (-2.7) suffered last year.
Main destinations for non-traditional Peruvian products were the US, the Netherlands, Chile, Colombia, Ecuador, Spain and Bolivia.