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.
More: Brazil news in English, every day from The Rio Times.
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+1.00%
177,418.78
+1.00%
65,430.32
-0.08%
11,315.26
-1.14%
3,033,848
+0.00%
2,425.08
-1.33%
59,928.30
-0.80%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 177,418.78 | +1.00% | +21.85% | 175,664.62 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
Read More from The Rio Times