Projections show Peruvian agricultural export growth potential to surpass Chile by 2027

Peru’s Ministry of Agrarian Development and Irrigation (Midagri) has analyzed data predicting a possible surge in its agricultural exports surpassing Chile by 2027.

In the previous year, Peru’s agricultural exports hit a peak of US$7.577 billion, whereas Chile marked US$10.664 billion.

From 2012 to 2022, Peruvian exports exhibited an average annual growth of 10.1%, compared to Chile’s 2.4%.

If this trend continues, Midagri’s foreign trade specialist César Romero forecasts that by 2027, Peru’s exports could value at US$12.21 billion, slightly above Chile’s estimated US$12.009 billion.

Romero noted Peru’s advantageous agricultural conditions, including water availability, labor and legal stability, and a favorable coastal climate, enabling year-round production.

As a result, certain Peruvian exports like blueberries, avocados, and grapes have seen growth.

Chile remains a major exporter of various fruits and asparagus. However, Peru also displays consistent growth in exports of diverse agricultural products.

Notably, Peruvian blueberry exports have grown at an annual rate of 123.3% in the last decade, surpassing Chile’s 2.6% growth rate.

For further development, Romero suggests Peru must secure new agricultural land and improve access to new markets.

Currently, eight countries buy 71% of Peruvian agricultural exports. These include the United States, the Netherlands, Spain, England, Chile, China, Germany, and Ecuador.

More: Chile news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error