Peru’s Exports Seen Down 7.6 Percent In 2012

Peru’s private-sector Association of Exporters, Adex, has reduced its forecast for the country’s exports this year, state news agency Andina reported.

Adex president Juan Varilias said Peru’s exports are seen ending 2012 at $42.8 billion, which would be a 7.6 percent decline from last year’s exports of $46.4 billion.

Adex had previously forecast a 2.8 percent decrease in Peru’s exports this year compared to 2011. The change in the outlook is mainly due to a drop in recent months of traditional exports, mainly metals.

Peru’s mineral exports, which account for some 60 percent of its total shipments abroad, have fallen as metal prices have declined.

“We now have a clearer vision of how the shipments will end this year, which is unfortunately less optimistic,” Varilias said.

Peru’s traditional exports are seen falling 10.8 percent in 2012 to $32.2 billion, while non-traditional exports, which include manufactured goods and textiles, is seen at $10.6 billion, up 3.8 percent compared to the year-earlier period.

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