Peru’s exports reached US$68.183 billion in 2024, driven mainly by agribusiness and mining. The economy faces challenges from global market volatility and inflation but has opportunities in technology and diversification. Predictions estimate exports will grow to US$75.8 billion by 2025, requiring coordinated efforts for sustainable growth. The focus will be on high-demand products and expanding service sectors.
Peru’s exports have been vital for its economic growth, totaling US$68.183 billion from January to November 2024. However, the nation faces challenges such as changes in the global economy, trade tensions, and logistical hurdles. The Peruvian Exporters Association (Adex) indicates that sectors like agribusiness, mining, and manufacturing present significant opportunities for improvement despite these challenges.
The report from PromPeru emphasizes the growth in service exports, particularly in tourism and technology. Rextie specialists predict potential growth in Peruvian exports for 2025, highlighting the market for value-added products such as quinoa and organic coffee. Agriculture saw growth rates of 40.1% and 14.9%, respectively, last year, with mineral exports of copper and gold being fundamental as well.
The technology sector is experiencing a robust annual growth rate of 14%, driven by digitalization and international demand. However, global market volatility, inflation, and exchange rate fluctuations have created uncertainty, demanding a focus on strengthening value chains and diversifying markets. Companies are encouraged to monitor economic indicators to mitigate risks associated with currency volatility.
The agro-industrial sector is forecasted to dominate export growth in 2025, particularly for healthy products like fruits and vegetables, which have significant markets in North America and Europe. Conversely, mining is expected to face slower growth of 3% due to the need to meet environmental standards, which may present new opportunities in clean technologies.
In the services sector, technology and tourism are projected to be strong contributors, with both areas poised for growth. Tourism marketing for cultural and ecological experiences could generate significant revenue, aiming for US$4 billion by 2030. Peru can become a competitive player in global trade by leveraging its strengths and diversifying its export strategies.
Overall, Peruvian exports are projected to reach US$75.8 billion in 2025, exceeding 2024’s US$73.4 billion. Achieving these goals will require cooperation between the public and private sectors along with sustainable trade policies that promote innovation and growth in the export markets.
Peruvian exports have significantly contributed to the country’s economic landscape, particularly through agricultural, mining, and service sectors. Recent trends indicate a diversification in export products, adding high-value items to the mix. However, external factors such as global economic changes and logistical challenges necessitate a close examination of potential growth areas and strategic responses.
The forecast for Peruvian exports shows optimism with expected growth driven by the agro-industrial sector and services, particularly tourism and technology. To handle market uncertainties and competitive pressures, it is essential for Peru to enhance its exportable offer, diversify markets, and ensure public-private collaboration. Achieving the projected export figures will rely heavily on sustainable practices and innovation in trade policies.
Original Source: andina.pe
