Exports from Peru will reach USD 66,472 million by 2024

Peru’s exports are expected to reach USD 66.472 billion by the end of 2024, marking a 3.1% growth compared to 2023 when the amount reached USD 64.474 billion, as reported by the Center for Research in Global Economics and Business of the Association of Exporters (Cien-Adex).

During the III Export Diplomatic Meeting organized by the business association, Gabriel Arrieta Padilla, Head of Economic Studies and Commercial Intelligence at Cien-Adex, also mentioned the presence of internal factors that restrict further growth of Peruvian exports.

He also highlighted the potential of the Port of Chancay for boosting Peru’s foreign trade.

“This future hub will encourage decentralization and diversification of our export offer and job creation, but problems in its construction may postpone its benefits to Peruvian trade,” he said.

Non-traditional exports

Arrieta Padilla explained that this year is expected to see a 2.9% increase in traditional shipments and a 3.6% increase in non-traditional ones.

The sectors present a varied landscape in 2024, with only a few expected to close in the positive and simultaneously surpass their historical records. These include mining (1.5% compared to 2023), fishing and aquaculture (4%), agribusiness (3.7%), and metalworking (3.5%).

In this regard, those expected to close on a positive note without reaching their previous years’ maximum figures would be primary fishing, textiles, metallurgy, chemicals, textiles, and others; while those in the negative include forestry, hydrocarbons, non-metallic mining, and primary agriculture.

“In general, there is a trend towards the recovery of Peruvian exports after challenges posed by climate change and the El Niño Phenomenon that impacted their performance. However, several sectors will remain below their historical peak levels,” he emphasized.

According to the Cien-Adex report, sectors expected to stand out in terms of FOB value in 2024 include mining, agribusiness, hydrocarbons, chemicals, fishing, and aquaculture.

It’s worth mentioning that the III Export Diplomatic Meeting was attended by ADEX President Julio Pérez Alván, members of the Executive Council Liz Soto, Doryan Zea, Rafael del Campo, and Luz María Janampa, former guild presidents Erik Fischer and Juan Varilias, Cien-Adex Director Edgar Vásquez, and members of its managerial and technical team.

Source: Portal Portuario

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