LIMA, July 24 (NNN-ANDINA) — Peru remains the country with the highest annual growth rate of non-traditional exports in the region over the past five years, with an average annual expansion of 8.8%, the Central Reserve Bank (BCR) has reported.
This result is explained by higher shipments of agricultural (mainly fruits), textile, chemicals, fishery, and iron-steel products.
According to the issuing entity, Brazil’s non-traditional exports grew 8.7%, Colombia’s saw a rise of 7.5%, Mexico’s went up 6.6%, and Chile’s increased 5.3%.
The BCR stated that non-traditional exports amounted to US$7.412 billion between January and May 2023, up 5.6% compared to the same period in 2022.
Said result was mainly driven by higher export volumes (4.2%) of agricultural and fishery products, as well as a 1.3% increase in the average price of textile and non-metallic mining products.
Among other products, sales of grapes increased 25.2% between January and May 2023, compared to the same period in 2022. Avocado exports rose 37.9% and frozen giant squid sales increased 181.1%.
Last May, non-traditional exports amounted to US$1.398 billion, a year-on-year increase of 0.2% explained by higher export volumes (2.5%), mainly of agricultural, fishery, and iron-steel products.
On the other hand, higher sales of non-traditional products were registered to Asia (South Korea and China), mainly of fishery products, as well as to Europe (Netherlands and Spain), mainly of agricultural products (avocados). — NNN-ANDINA
