Peru’s Exports Continue Steep Decline In May

Peruvian exports saw a steep decline in May, the second consecutive month that shipments abroad have declined as a result of lower commodity prices, the Foreign Trade and Tourism Ministry said.

Exports totaled $3.37 billion in May, down 16 percent from the same month in 2011, state news agency Andina reported.

Traditional exports, which include raw materials such as metals, declined 23 percent in the month, the government said. Meanwhile, non-traditional exports grew 6 percent in May as non-metallic minerals rose 85 percent and textiles were up 9 percent.

In April, Peru’s exports fell about 10 percent resulting in the country’s first trade deficit in more than 3 years.

The government said Monday that during the first five months of 2012, Peru’s exports grew 3 percent to $18.03 billion.

Traditional exports during the period were flat, while non-traditional exports were up 11 percent led by a 56 percent increase in non-metallic mining shipments.

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