The Central Reserve Bank of Peru (BCRP) reported that non-traditional and traditional Peruvian exports reached historical highs in 2021, explained by the higher volumes in the first case and the better prices In a second.
In detail, non-traditional exports registered a historical maximum of US$ 16,372 million in 2021, which meant a growth of 28.2% compared to 2020 and 18.5% compared to what was achieved in 2019.
According to the monetary entity, this result responded mainly to the higher shipments made and to a lesser extent due to a price effect. A) Yes, the volume exported increased 20.2% compared to 2020 (16.0% compared to 2019), due to higher shipments of textile, non-metallic mining, iron and steel and agricultural products.
Evolution of non-traditional exports. Source: BCRP
This volume growth exceeds the average recorded in the last 10 years 2012-2021 (4.7%) and the previous decade 2002-2011 (9.5%), when export volumes grew at double-digit rates.
On the other hand, traditional exports totaled a record US$46,541 million in 2021, a growth of 55.1% compared to the previous year and 36.8% compared to 2019.
Evolution of traditional exports. Source: BCRP
This recovery was led by high prices for commodities that came to mark new historical values. An important fact was the growth in the price of natural gas, 355.8%, as a result of a colder than expected climate in Asia and other supply and demand shocks that affected the market for this product.
As for volumes, this had an increase of 10.4% compared to 2020, but it still remains at levels below the pre-pandemic period.
Source: Larepublica
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