Peru Achieves Record Export Growth, Driven by Non-Traditional Sectors and Strategic Trade Agreements
TL;DR
Peru's 15.6% export growth in 2024 highlights strong trade performance, offering competitive advantages in key sectors and strategic markets.
Peru's export growth is fueled by free trade agreements, strategic policies, and innovative sectors like agribusiness, metallurgy, and metalworking.
Peru's export success creates more jobs, adds value, and strengthens production chains, contributing to a more globally integrated and inclusive economy.
Peru emerges as a top global supplier in non-traditional sectors like agribusiness, showcasing remarkable growth in high-value products and industrial strength.
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Peru's export landscape is experiencing remarkable transformation, with total exports climbing to USD 74.7 billion in 2024, representing a robust 15.6% increase from the previous year. This substantial growth reflects the country's strategic trade policies and expanding global market presence.
China emerged as the leading export destination, importing USD 25 billion of Peruvian goods, followed by the United States with USD 9.5 billion and the European Union with USD 8.2 billion. The most significant progress occurred in non-traditional exports, which grew 11.3% to USD 20.6 billion, demonstrating Peru's economic diversification.
Agribusiness drove this expansion, with exports reaching USD 11.6 billion—a remarkable 21.6% increase. Key agricultural products like blueberries (+36%), avocados (+29.5%), and cocoa (+257.5%) contributed substantially to this growth. The country's strategic trade agreements, currently numbering 22, have been crucial in facilitating this international trade expansion.
These trade agreements have enabled Peru to access strategic markets with preferential conditions, with 87% of total exports—approximately USD 64.99 billion—benefiting from these arrangements. The success extends beyond agriculture, with metallurgy and metalworking sectors also experiencing significant international market penetration.
As the world's leading exporter of blueberries, asparagus, grapes, quinoa, and fishmeal, Peru is positioning itself as a critical global supplier. The Commission for Promotion of Export and Tourism (PROMPERÚ) continues to support this trajectory by focusing on company internationalization, market diversification, and promoting high-value-added products.
Curated from News Direct
