Peruvian exports to U.S. rose by 23% through November
Between January and November 2022, Peruvian exports to the U.S. totaled US$7.8 billion, showing a 23% rise year-on-year, according to Agraria.pe based on data by he Foreign Trade Society of Peru (ComexPeru).
Between January and November 2009 and 2022, the average annual growth rate of Peruvian exports to the U.S. was 4% with an accumulated increase of 62%.
Over the years, the U.S. has positioned itself as the second most important export market, only behind China.
Regarding the nature of exports, shipments of traditional products in the first eleven months of 2022 totaled US$ 2.7 billion, showing a growth of 294% year-on-year.
Furthermore, the sector accounted for 35% of total exports to this destination.
On the other hand, non-traditional exports to the U.S. between January and November 2022 reached 5,011 million, registering an increase of 21%. This sector accounted for 65% of the total.
The international trade guild highlighted that non-traditional exports to the North American giant presented a sustained growth, which since 2009 have increased, on average, by 9% per year.
The most benefited subsector was agriculture and livestock, which had an accumulated growth of 367.8%.
As for the main exported products of the non-traditional sector, blueberries stand tall with US$ 666 million, representing a 15.2% growth year-on-year.
Fresh grapes come in second at US$409 million (+27%); followed by natural calcium phosphates with US$266 million (+80%); fresh avocados with US$ 231 million (+36%) and fresh asparagus (+23%).
Increasing number of exporting companies
Comex added that the FTA between both countries brought with it an increase in export opportunities, which is why the value exported to this destination by small and medium-sized companies went from US$151 million in 2009 to US$189 million by the end of 2022.
"The greatest growth in terms of the number of exporting companies between 2009 and 2022 is found in the agricultural sector companies, going from 582 to 946 for the same period of analysis," the entity reported.