Peru's Top Import And Exports

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According to the World Bank, Peru's economy is upper middle class. It also has the world's 39th largest economy. 

Peru has become one of the world's fastest-growing economies as a result of economic reforms implemented in the 2000s.

 

Peru received an HDI score of 0.752 in 2011. Peruvian exports are the mainstay of the Peruvian economy. That is what funds the money needed for imports as well as the repayment of Peru's external debts.

According to the Economic Complexity Index, Peru has the world's 59th largest export economy and the 91st most complex economy. 

Peru exported goods worth up to 39.8 billion US dollars in 2014. 

Imports of goods were estimated to be 42.3 billion dollars in the same year.

Peru, the fifth most populous country in South America, with a population of nearly 30 million people, has demonstrated tremendous tenacity in controlling inflation and unemployment in recent years.

Peru’s Top Trading Partners

In 2020, the Republic of Peru exported goods worth 38.8 billion dollars around the world. 

This figure represents a 7.5 percent increase since 2016, but a minus 14.1 percent decrease from 2019 to 2020.

Using a continental perspective, 46.1 percent of Peruvian exports by value were delivered to Asian countries, while 23.4 percent were sold to North American importers. 

Peru exported 17.6 percent of its goods to Europe, while 11.4 percent went to Latin America, excluding Mexico but including the Caribbean with 11.4 percent.

Africa got 0.7 percent and Oceania led by Australia received lower percentages of 0.4 percent.

Here is a list of 15 of Peru's top trading partners, countries that imported the most Peruvian shipments in terms of dollar value in 2020. 

Each import country's percentage of total Peruvian exports is also shown.

China: 11 billion dollars accounts for 28.3 percent of total Peruvian exports

6.2 billion dollars by the United States represents 16.1 percent 

2.4 billion dollars by Canada represents 6.2 percent 

2.3 billion dollars in South Korea represents 5.8 percent 

Japan with 1.7 billion dollars accounts for 4.4 percent 

The Netherlands with 1.4 billion dollars accounts for 3.7 percent 

1.4 billion dollars from Switzerland accounts for 3.5 percent 

1.1 billion dollars for India accounts for 2.8 percent

Spain with 1.1 billion dollars accounts for 2.8 percent

Chile: with 1.1 billion dollars accounts for 2.7 percent 

Brazil with 753.6 million dollars accounts for 1.9 percent

Germany with 751.7 million dollars accounts for 1.9 percent 

721.8 million dollars by the United Arab Emirates account for 1.9 percent 

669 million dollars from Colombia accounts for 1.7 percent 

Ecuador: 642,3 million accounts for 1.7 percent 

In 2020, the previously mentioned 15 trade partners received nearly four-fifths or 85.6 percent of Peruvian exports.

The United States went up by 12.4 percent, South Korea went up 3.3 percent, and the Netherlands up by 1.3 percent were the only top importers to increase purchases from Peru between 2019 and 2020.

Brazil was down by minus 47.2 percent year on year, Switzerland down by minus 39.2 percent, India down by minus 38.4 percent, Germany down b minus 26.5 percent, and the United Arab Emirates led the decliners down by minus 25.9 percent 

Peru’s Top 10 Exports

The Republic of Peru, a country in western South America bordered to the east by Brazil, shipped 38.8 billion dollars in goods around the world in 2020. 

This figure represents a 7.5 percent increase since 2016, but a minus 14.1 percent decrease from 2019 to 2020.

According to the estimated 2020 exchange rate, the Peruvian Sol has depreciated by minus 1 percent against the US dollar since 2016 and by minus 2.1 percent from 2019 to 2020. 

Peru's weaker peso makes exports paid for in stronger US dollars less expensive for international buyers.

According to the most recent country-specific data, 80.3 percent of Peruvian exports were purchased by importers in the following countries: China with 28.3 percent of the global total, the United States with 16.1 percent, Canada with 6.2 percent, South Korea with 5.8 percent, Japan with 4.4 percent, the Netherlands with 3.7 percent, Switzerland with 3.5 percent, India with 2.84 percent, Spain with 2.8 percent, Chile with 2.7 percent, Brazil with 1.9 percent, and Germany with 1.9 percent also.

From a continental standpoint, 46.1 percent of Peruvian exports by value were delivered to Asian countries, while 23.4 percent were sold to North American importers. 

Peru exported 17.6 percent of its goods to Europe, while 11.4 percent went to Latin America, excluding Mexico but including the Caribbean with 11.4 percent. 

Africa got 0.7 percent and Oceania led by Australia received lower percentages of 0.4 percent.

With a population of 33.5 million people, Peru's total of 38.8 billion dollars in 2020 exports equates to roughly 1,200 dollars for each resident of the South American country.

The export product groups listed below have the highest dollar value in Peruvian global shipments in 2020. 

The percentage share of each export category in terms of total Peruvian exports is also shown.

Ores, slag, and ash: 13.2 billion dollars account for 34.1 percent of total exports

6.7 billion in gems and precious metals account for 17.2 percent 

Fruits, nuts: 3.8 billion dollars account for 9.9 percent 

2.2 billion dollars for copper account for 5.8 percent 

1.5 billion dollars for mineral fuels, including oil accounting for 3.8 percent 

1.3 billion dollars in food waste and animal fodder accounts for 3.5 percent 

982.2 million dollars for fish accounts for 2.5 percent 

849.3 million dollars for coffee, tea, and spices account for 2.2 percent 

691 million dollars for knitted or crocheted clothing and accessories accounts for 1.8 percent 

676.8 million dollars for vegetables account for 1.7 percent 

Peru's top ten exports accounted for more than four-fifths or 82.5 percent of the total value of its global shipments.

Fruits and nuts are the fastest growing of the top ten export categories, increasing by 16.1 percent between 2019 and 2020. 

Coffee, tea, and spices came in second for increasing export sales, with a 12.1 percent increase led by coffee. 

Peruvian copper shipments experienced the third fastest increase in value, rising 10.6 percent.

Mineral fuels, including oil, were the leading decliner among Peru's top ten export categories, falling minus 53 percent year on year.

Copper ores and concentrates were Peru's most important export products accounting for 23.7 percent of total exports. 

Gold with 16.6 percent, refined copper with 4.6 percent, inedible meat flour with 3 percent, iron ores and concentrates with 2.8 percent, and miscellaneous fresh fruits came in second also with 2.8 percent.

In terms of macroeconomics, Peru's total exported goods account for 9.4 percent of its total GDP in 2020 valued at 478.3 billion in Purchasing Power Parity US dollars. 

In 2020, exports will account for 9.4 percent of total GDP in PPP terms, compared to 10.3 percent in 2019. 

Based on a short timeframe, this appears to indicate a relatively decreasing reliance on products sold in international markets for Peru's total economic performance.

The unemployment rate is another important indicator of a country's economic performance. 

According to the International Monetary Fund, Peru's average unemployment rate for 2020 was 6.684 percent, a slight decrease from 6.7 percent the previous year.

Lima is Peru's capital city.

Imports

Peru ranks 55th in the world in terms of imports. 

Peru's imports increased at a 14 percent annualized rate between 2009 and 2014, rising from 22 billion dollars to 42.3 billion dollars. 

Peru's top two imports are refined petroleum and crude petroleum. 

The former represents 7.06 percent of the total imports of the country while the latter accounts for 6.54 percent of the total import.

Top Import Destinations

The main import partners of Peru are the United States with 22.7 percent, China with 22.1 percent, Brazil with 6.9 percent, Mexico with 6.6 percent, Venezuela with 4.6 percent, Ecuador with 4.2 percent, and Colombia with 4.2 percent.

Sources : 

https://www.icontainers.com/us/2020/01/31/peru-main-exports-imports/

https://www.worldstopexports.com/perus-top-10-exports/

https://www.worldstopexports.com/perus-top-import-partners/

https://www.worldatlas.com/articles/peru-exports-and-imports.html

 

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