Peru’s Exports Surge 30.7% in January as Mining and Agriculture Shine

The Ministry of Commerce Exterior and Tourism announced Peru’s exports reached $6.922 billion in January, marking a significant 30.7% increase compared to January 2024.

This robust performance demonstrates Peru’s strengthening position in global markets. Mining, Peru’s economic backbone representing 63% of total exports, grew by 38.5% compared to last year.

Copper exports soared 47.5% while gold shipments increased 42.1%. Both minerals enjoyed price increases, with copper up 6.2% and gold rising 30% compared to January 2024.

Agricultural exports also performed remarkably well, climbing 23.7% to reach $1.354 billion. Cacao and related products led this growth with an astounding 189.8% increase, while fruit exports rose by 25.1%.

These figures reflect Peru’s successful agricultural diversification strategy. The fishing sector contributed $315 million to January’s total. Fishmeal exports grew 72%, algas by 143%, and scallops by 111%.

Other notable increases included flying fish roe (20%) and prawns (8.8%), showcasing Peru’s maritime resource strength. Textile and apparel exports grew 10% to $138 million through increased sales of fabrics, yarns, fibers, and clothing.

Peru’s Strong Export Performance and Economic Outlook

Meanwhile, metallurgical exports jumped 23.2% with higher sales of copper and silver products. Peru successfully reached 125 global markets in January. China remained the dominant destination, receiving 34% of Peru’s exports, primarily minerals like copper, iron, and gold.

This strong export performance aligns with broader economic forecasts. The Association of Exporters projects Peru’s exports will exceed $76 billion in 2025, representing 3-4% annual growth.

Analysts attribute this positive outlook to favorable international prices for Peru’s key commodities. The mining sector expects to contribute 9.5% to Peru’s GDP in 2024, up from 9% last year.

The upcoming completion of the Chancay port will further boost competitiveness by reducing logistics costs to Asian markets, which receive nearly 90% of Peru’s mining exports.