Exports witness a phenomenal growth in first half of 2008

02 Aug '08

2 min read

Reasonable prices of raw materials and a expanding textile, chemical and agricultural sector helped Peruvian exports soar by 27.9 percent in the first half of this year fetching US $15.9 billion.

Exports in the month of June alone brought revenues amounting to $2.7 billion registering an increase of 11.4 percent compared to the corresponding period last year and adding up to 76 consecutive months of growth.

Moreover, in the period between July 2007 and June 2008, total exports amounted to $31.3 billion, recording an increase of 21.3 percent compared to same period of the previous year.

Exports were done to 168 markets in the first half of this year of which 90 of them exceeded the mark of one million dollars. United States accounted for 18.8 percent of total exports while China, Switzerland, Canada and Japan accounted for 11.7, 10.5, 6.8 and 6.4 percent respectively. The group on a cumulative basis absorbed a total of 54.2 percent of the total exports.

Additionally, markets that immensely helped Peruvian exports expand included North Korea, India and Indonesia fetching $98, $184.4 million and $19.8 million respectively. In fact, of the 10 major export destinations, six were South American countries, (Venezuela, Colombia, Chile, Ecuador, Bolivia and Brazil), one North American (United States), two European (Spain and the Netherlands) and one from Asia (China).

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