Trade between Russia and Peru reached US$630 million: what Russian products can we find here?

The commercial links that Peru maintains with other countries represent a great opportunity for small, medium and large companies, since they promote imports and exports, a fundamental point in our economy. The variety of raw materials and products in general that the national market offers allows it to develop complementary ties with countries like Russia.

As announced Pavel Dorokhin, director of the Russian trade representation in Peru, trade between Russia and Peru has been actively growing since 2016 and in 2021 its volume reached US$836 million. However, in 2022, the trade volume dropped to US$502.3 million. The following year (2023) commercial collaboration between both countries reached US$630 million between exports and imports, thus representing a growth of 25%.

The anti-Russian policy of Western countries marked a 68% decrease in the exports of the country located in the eastern part of Europe, so that the search for new markets or strengthening commercial links with other countries has led it to reach 2-digit figures with countries such as Turkey (36%), China (26%), Egypt (57%), Brazil (37%) and Saudi Arabia (87%). As part of these actions, they seek to reach the Latin American market, through an individual approach in each of the countries that comprise it, such as the Peruvian market, with which they seek to establish cooperation links in order to reduce gaps.

What Russian products can we find in the Peruvian market?

As part of the commercial exchange between both nations, Peru imports from Russia products such as fertilizers, steel products, polypropylene, industrial chemicals, wheat, urea, mineral fertilizers, ammonium nitrate, helicopters with an empty weight greater than 2,000 kilos, products petroleum derivatives, paper and cardboard, among others.

A large number of Russian industrial products are found in the Peruvian market: vans, ICU beds, drones, transformers, insulators, voltage sensors, garbage incinerator equipment, mining equipment. In addition, Russian information technology companies are entering Peru, such as: mobile taxi service, delivery applications, e-scooter rental service, satellite mineral exploration, among others.

What products does Peru export to the Russian market?

In turn, Peru exports lead minerals, grapes, avocados, squid, nuts, fish, shellfish, coffee, cocoa, fruits, natural dyes, among others.

What is the IMF and what is its function?

As indicated on its website, the International Monetary Fund (IMF) is an organization made up of 184 countries, which works to promote global monetary cooperation, ensure financial stability, facilitate international trade, promote high levels of employment and sustainable economic growth, and reduce poverty..

What did the Russian ambassador in Peru say about the commercial link between both countries?

Citing the joint statement regarding the Russian-Peruvian Strategic Partnership, which was signed on November 30, 2015, the Russian ambassador to Peru, Igor Romanchenkorevealed that the current trade exchange between both countries is encouraging and they hope to reach 1 billion dollars in 2025.

“Today supplies are going well and this is an example; on the other hand, supplies to Russia of blueberries, avocados and some vegetables are increasing and I hope they will increase. This, without mentioning the technological issue, It doesn’t matter if they are small, but they open horizons, so I think that we are going to accomplish the task of reaching 1 billion dollars in exchange by 2025,” he told Agencia Andina.