► Peru exports to Canada total US$2.321 billion in Jan-Nov 2019, up 153%

(Andina)
Peruvian exports to Canada reached US$2.321 billion between January and November 2019, up 153% compared to the same period a year earlier, the Association of Peruvian Exporters' Global Business and Economy Research Center (Cien-Adex) has reported.

Cien-Adex noted that sales to Canada saw strong growth, while overall exports fell 4.3% in the first 11 months of 2019.

According to the center, this outcome was driven by increased demand for gold. Such mineral expanded 345%.

However, there are remarkable cases such as the aviation fuel (887%), jewelry (104%), strawberries (95%), and grapes (29%) to mention some products with a significant dollar FOB value.

Cien-Adex Director Carlos Gonzalez recommends a careful study of these cases because they may provide evidence about the factors required to strengthen the product diversification strategy, which could be applied to generate a new exports shock that revives the country's economy.

"Growth is remarkable. In the search of new destinations by entrepreneurs, Canada casts interesting lights that result in a series of products with great potential and possibilities," he said.

Gonzalez explained that a long list of new items is seen in the North American nation.

For example, 331 items were recorded worth less than US$1,000 between January and November 2019. They included rugs, drills, clothing items, shampoo, cochineal carmine, blankets, wine, among others.

Gonzalez said that the investment in the mining sector is one of the main drivers of growth in exports to Canada, as well as the strategic alliances with foreign companies, which help refine and ship aviation fuels.