Peru's Export Boom in 2024: A Testament to Strategic Economic Diversification

Peru's international trade landscape in 2024 has marked a significant milestone, with exports soaring to USD 74.7 billion, a 15.6% increase from the previous year. This growth is a clear indicator of the country's successful economic strategy and its ability to diversify its market presence on the global stage. China has solidified its position as Peru's top export destination, with exports totaling USD 25 billion, a 9.2% increase, followed by the United States and the European Union, with exports worth USD 9.5 billion and USD 8.2 billion, respectively.

The dynamism of non-traditional exports, which grew by 11.3% to USD 20.6 billion, is particularly noteworthy. This sector's performance, especially in the United States where exports increased by 15.9% to USD 6.6 billion, underscores the effectiveness of Peru's trade policies. The role of free trade agreements cannot be overstated, with 22 agreements facilitating access to strategic markets under preferential conditions. In 2024, exports under these agreements accounted for 87% of total exports, amounting to USD 64.99 billion.

The agricultural sector has emerged as a standout, with agribusiness exports reaching USD 11.6 billion, a 21.6% increase. Peru has become the world's leading exporter of blueberries, with exports growing by 36%, alongside significant increases in avocado and cocoa exports by 29.5% and 257.5%, respectively. The metallurgy and metalworking sectors also showed robust growth, highlighting Peru's diverse industrial capabilities and its focus on high-value-added production.

The Commission for Promotion of Export and Tourism (PROMPERÚ) has been pivotal in this success, focusing on enhancing international company presence, promoting market diversification, and expanding high-value product exports. Peru's export performance in 2024 not only reflects its competitive edge in global trade but also its commitment to sustainable and inclusive growth across various productive sectors. This trajectory positions Peru as a key player in the global economy, with a promising future ahead.