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Peru’s commercial exchange with countries with FTA exceeded US$ 54,000 million as of June 2022

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The commercial exchange of Peru with the countries with which it maintains a commercial treaty reached US$ 54,053 million in the first half of 2022. This value is 21.2% higher than that registered in the same period of the previous year; In addition, it represents 91.6% of the total trade in goods, according to the Ministry of Foreign Trade and Tourism (Mincetur).

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In contrast, the Mincetur reported that trade with countries with which there is not yet a trade agreement in force (8.4% of the total) decreased 1.1% in this period, due to the sharp drop in trade with the countries in conflict (Russia and Ukraine).

Behavior of exports in the first half of 2022

According to Mincetur’s “Monthly Trade Report – June 2022”, China continues to be our country’s leading trading partner with growth of 6.9% in the first six months of the year. It is followed by the United States, which between January and June achieved a dynamic increase, growing 53.1%.

On the other hand, in that period, Peru-Asia trade grew 7% thanks to greater trade with India (16%), South Korea (13%) and Japan (8%). With India, Peru is currently negotiating the signing of a trade agreement.

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With respect to Europe, trade increased 18%, mainly due to the increase in trade with the United Kingdom (353%), a country that has notably increased its purchases of natural gas from Peru.

Finally, Peru increased its trade with the region’s trade blocs: Mercosur (40.9%), Andean Community (38.2%) and Pacific Alliance (31.3%), highlighting the increased trade with Brazil ( 45.8%).

Peru has 22 trade agreements in force to date. These are with: United States, Cuba, Mercosur, the Trade Protocol of the Pacific Alliance, the Andean Community, Chile, Canada, Singapore, China, Thailand, Mexico, Japan, the countries of the European Free Trade Association (EFTA) , South Korea, the European Union, Panama, Costa Rica, Venezuela, Honduras, Australia, the United Kingdom and the CPTPP (Comprehensive and Progressive Treaty of Trans-Pacific Association.

Source: Larepublica

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