Sat, 18 Sep 2021

Economic Watch: Peruvian exports hit record high

Xinhua
13 Sep 2021, 17:18 GMT+10

LIMA, Sept. 12 (Xinhua) -- Favorable global raw material prices and a sustained recovery of national production have boosted Peruvian exports to the tune of 29.17 billion U.S. dollars in the first seven months this year.

This is a "historic" figure that has contributed to the Peruvian economy affected by the COVID-19 pandemic, said Carlos Aquino, a professor at the National University of San Marcos.

Growing cooper and fishery exports boosted the remarkable figure, said Aquino.

Some non-traditional export sectors also saw an increase. "And yet when they hit an all-time high last year, now they hit another all-time high," he said.

"In particular, it's due to the historical export of two products: avocado, which reached 949 million U.S. dollars, a historical record ... and grapes," he added.

Compared to the first seven months of last year, Peru's avocado exports grew 47 percent, according to the Ministry of Foreign Trade and Tourism.

"Peru has always depended on exports of traditional raw materials. We are talking about mining products, some oil, gas, fish products, but now we have another new growth engine," Aquino said, referring to non-traditional products.

Recalling that 20 years ago Peru "did not export anything" and had little "importance in the world food market," Aquino said today the country's products are "on the tables of the world and in the markets of the world."

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