Peru’s GDP Rises 5.55 Percent In March

Peru’s economy grew by 5.55 percent in March, which is slower than many economists had expected, state news agency Andina reported.

Growth in March, which is the 31st straight month of economic growth in Peru, was lower than the 7.18 percent in February.

The National Statistics and Information Bureau, or INEI, said Peru’s agriculture sector rose 1.62 percent in March, while fishing fell 15.07 percent.

The mining and hydrocarbon sector grew 6 percent in March, as metallic mining Read more…

Peru’s Exports Rise 5% In March To $3.91 Billion

Foreign Trade and Tourism Minister Jose Luis Silva said Thursday that Peru’s exports totaled $3.91 billion in March, which is 5 percent higher than the same month last year.

The increase in exports was thanks largely to a 14 percent rise in non-traditional exports, which includes non-metallic minerals, steel, metal-mechanics, and textiles.

Traditional exports, which include Peru’s important mineral shipments, rose 2 Read more…

Britain, Peru Begin Mending Relations With Business Road Show

Britain and Peru appear to be mending ties through the private sector following a diplomatic rift caused by Peru’s last minute cancellation in March of a visit to the port of Callao by Britain’s HMS Montrose, a navy frigate.

Peruvian business and government leaders travelled to London last week as part of a three-city tour this year that aims to increase investments in the South American country.

The Peruvian business group included leaders from the country’s banking, mining, energy, and other sectors, and was led by the Minister of Finance, Luis Miguel Read more…

Peruvian Exports Rise 10.7 Percent In First Quarter 2012

Peruvian exports totaled $11.2 billion in the first quarter of this year, up 10.7 percent from the same period in 2011, the private-sector Foreign Trade Society, or Comex Peru, said.

Non-traditional exports in the quarter totaled $2.54 billion, which is a 12 percent increase from year-ago period, daily El Comercio reported.

Sectors that led the non-traditional exports were agriculture at $679 million, Read more…

Peru’s GDP Rises 7.18 Percent In February

Peru’s economy grew by 7.18 percent in February, its fastest rate of growth since last August, the government said.

The National Institute for Statistics and Information (INEI) said that construction led growth for the month, rising 14.03 percent, as domestic demand was boosted among an increase in public-sector investments, state news agency Andina reported.

The retail sector grew 8.89 percent amid higher vehicle sales, while electricity and Read more…

Peru’s Non-Traditional Exports To Canada Seen Up 20 Percent This Year

Peruvian non-traditional exports to Canada, the country’s fourth biggest trade partner, could rise by more than 20 percent this year thanks to a free trade agreement that came into force in 2009, a top Peruvian government official said.

Jose Luis Silva, Peru’s Trade and Tourism Minister, said that Peru’s non-traditional exports to Canada have increased to $96 million in 2011 from $48 million in 2009 as products from the fishing sector jumped 118 percent, 48 percent from agriculture and 23 percent from textiles.

“In the agriculture, there is a lot to still develop because the volume of total Read more…

Peru Exports Total $3.67 Billion In February, Up 9 Percent On Year

Peruvian exports totaled $3.67 billion in February, up 9 percent from the same month last year, according to the exporters’ association, Adex.

The growth rate in exports, however, was significantly slower than in January, when shipments abroad increased 27 percent year-on-year, state news agency Andina reported.

The slowdown in growth was the result of a slowdown in mineral exports due to concerns about the economic crisis in Europe and a decrease in demand from Read more…

Peru’s Business Confidence Increases To 12 Month High

Business confidence in Peru reached its highest level in 12 months, daily Gestion reported, citing the Central Bank’s latest survey on macroeconomic expectations.

Sixty percent of respondents said they are optimistic about the economy, compared to 57 percent in January and 56 percent in December.

The survey found that 61 percent of businesses expect sales to increase this year, Read more…

Peru-Japan Free Trade Agreement Effective Today

Peru’s free trade agreement with Japan, signed in May 2011, goes into effect as of today and is expected to help Peru double non-traditional exports to Japan over the next three years.

Under the agreement, negotiated between 2009 and 2011, tariffs on 99 percent of the products traded by both countries are to gradually drop over the next 10 years.  The Lima Chamber of Commerce forecasts an increase in Peruvian exports of zinc and copper as well as of asparagus and corn, and fish products such as giant squid.  Japan expects to increase exports to Peru of electronic equipment, vehicles and spare parts.

Japan is Peru’s fifth leading commercial partner, and has similar trade agreements in Latin America with Mexico and Chile. Peru’s exports to Japan in 2011 totaled $2.1 billion, with imports from Japan reaching $1.3 billion.

Peru Exports Rise 21 Percent In January

Peruvian exports increased 21 percent in January to $3.59 billion, compared to the same month in 2011, according to preliminary data from trade group ComexPeru.

Comex said that the increase was largely due to a 23 percent rise in exports from primary products, which totaled $2.78 billion in the month.

Fishing exports rose 252 percent to $279.8 million in January from $79.4 million, Read more…

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