In the last hours, the decision of the Russian government to initiate a military operation against Ukraine in order to defend the separatist region of this country has been announced. The exact impact this will have globally is not yet known.. However, Peru has maintained trade relations with both countries that could be affected.
Russia is the fourth country to which we import wheat in 2021. According to figures from Midagri, last year we imported 65,728 tons of wheat from this country. Although we do not have commercial agreements with this Eastern European country, in 2021 the commercial exchange has increased by 99%.
After Peru’s participation in the last World Cup, a favorable evolution of the exportable supply to that market was observed. Between January and October 2021 shipments to Russia increased by 59.7% which totaled US$ 185 million, as reported by ADEX.
Mining (46.3%) and also other subsectors such as non-traditional fishing (squid, trout, squid and shrimp) and agribusiness (fresh pomegranates, grapes and avocado, mainly) were the ones that stood out in this commercial exchange during the first nine months of 2021.
It is still considered to Russia a new market to explore since, in 2019, Peru exported more than US$ 100 million dollars to Russia and in 2021 Latin America represented 3.5% of total imports to this country and Peru only reached 0.1%.
At the end of the official presentation of Peru’s 2021 exports, Roberto Sánchez, Minister of Foreign Trade and Tourism, pointed out that “trade with Russia is not very significant for us. We have the United States, Europe, Spain, France, Germany. We export avocados, fresh fruits, blueberries, mangoes, coffee, cocoa, emblematic products”.
Trade interactions with Ukraine
Between January and July 2020, Ukrainian goods exports totaled US$27.56 billionwhile imports of Peruvian products to Ukraine reached US$ 13,261 million, according to figures presented by the Ukrainian embassy in Peru.
The main groups of goods that Peru has imported from this country are those linked to transportation services, among them are ferrous metals (85.2%); nuclear reactors, boilers, machines (2.7%); in addition, fats and oils of animal and vegetable origin (8.9%); electrical machines (0.8%); optical and photographic instruments and apparatus (0.3%).
From Ukraine, the products that are sent from our country are mainly edible: edible fruits and nuts (72.1%); fish and crustaceans (10.9%); inorganic chemical products (2.8%); oilseed seeds and fruits (2.7%); tanning extracts (3.7%); coffee, tea (2.7%); natural shellac (1.8%).
Source: Larepublica
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