Peruvian exports increase by 12.3% in June 2024, boosting the national economy.

Peruvian exports are on a clear upward trend, as evidenced by the 12.3% increase recorded in June 2024. This year-on-year growth, which reached a total of US$ 6,329 million, serves as a key indicator of the recovery and dynamism of the national economy, in a global context marked by uncertainty and price fluctuations. The Central Reserve Bank of Peru (BCRP) has highlighted that this increase in exports is primarily due to rising international prices for products such as zinc, gold, copper, and hydrocarbons. This phenomenon has allowed the total value of sales abroad to remain at elevated levels, despite a slight decrease in the volumes exported. Rising prices have been a boon for exporters, who have managed to offset the decline in the quantity of products sent to other markets. Among the products that stand out in this growth are non-traditional agro-exporters, who have also seen a rise in their prices thanks to the moderation of Peruvian supply in the global market. This sector, increasingly relevant to the country's economy, demonstrates that Peru continues to be an important player in the agro-industrial field, offering competitively high-quality and flavorful products. However, not everything is positive in this scenario. The reduction in the average export volume of certain products, such as copper, zinc, and natural gas, poses long-term challenges. The decrease in these shipments highlights the need for the country to diversify its export offerings and seek new opportunities in emerging markets. Dependence on volatile international prices can be risky if strategies are not implemented to strengthen other sectors. It is interesting to note that, despite the challenges, fishmeal exports have experienced a significant increase, helping to counterbalance the decline in other products. This suggests that there are market niches that the country can continue to exploit, which could offer a pathway for sustainable growth in the future. Projections for the first half of 2024 are equally encouraging, with total sales abroad amounting to US$ 33,993 million, representing a 4.2% increase compared to the same period last year. This result is not only a reflection of the competitiveness of Peruvian products but also of the resilience of a sector that has managed to adapt to the changing circumstances of the global market. Nevertheless, authorities and economists warn about the need to implement policies that support the diversification of products and markets. Excessive dependence on a few mineral products can be dangerous, especially in a world where demand can change rapidly. Initiatives like the one promoted by Promperú, which aims to generate trade opportunities exceeding US$ 25 million, are positive steps in this direction. In summary, the growth of Peruvian exports in June 2024 is an encouraging sign for the national economy, but also a reminder of the persistent challenges. The country is at a critical moment to ensure that this positive trend translates into lasting and sustainable benefits. Diversification, investment in innovation, and strengthening supply chains are essential to maintain momentum and ensure that Peru continues to be a robust competitor in the international market. As we move into the second half of 2024, it will be crucial to closely monitor these trends and adjust economic strategies to face both the opportunities and risks that may arise on the horizon. The capacity for adaptation and a long-term vision will be decisive for the future of Peruvian exports.