Peru : Exports record a surge in first two months of 2008

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Exports record a surge in first two months of 2008

28
Mar '08

Trade results for the first two months of 2008 shows that Peruvian exports touched more than US $4.7 billion, registering an increase of 29.7 percent over the same period last year.

The US emerged as the largest importer of Peruvian goods accounting for 18 percent of the total exports made by Peru. Following suit was China with 12 percent, Switzerland at 11.6 percent, Chile at 6.9 percent and Canada at 6.1 percent.

While exports from agro-industry amounted to $329 million surging by 46 percent, textile exports reached $298 million with a rise of 31 percent. Besides, exports from chemical industry also touched $153 million showing a year-on-year rise of 32 percent.

Mining exports amounted to more than $1.4 billion in February showing a 31 percent increase over the same month last year. Gold exports in particular totaled to $153 million, a 32 percent increase compared to February last year.

On the whole, export results have turned out to be quite satisfactory and if the country continues to expand its markets and production capacity, it is likely to rank among the top most supplying countries in the world.

Peru and China have agreed to boost trade and investment between their countries ahead of a free trade deal planned for November 2008.

The countries, whose trade balance reached $5.3 billion in 2007, will in coming months sign a preliminary partnership to increase commerce more than four fold by 2015.

Peru also signed a free trade pact with the United States in December 2007, when commerce between the two nations was $9 billion for the year.

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