Peru exports have exceeded pre-pandemic levels, indicating a positive sign of economic recovery. This news is encouraging for businesses and international investors looking to enter or already operating in the market. According to Peru’s Ministry of Foreign Trade and Tourism, key economic sectors such as agriculture, chemicals, and textiles have seen increased exports in the first quarter of 2021 compared to the same period in 2020 and 2019. This positive trend is attributed to ramped up digitization in the import/export sector and new commercial agreements with international partners. Minister Claudia Cornejo highlighted the efforts of exporters and the entire foreign trade chain in achieving this recovery.
Peru’s exports were severely affected by the pandemic, experiencing a nearly 40% decline in the second quarter of 2020. However, in 2021, the country has shown signs of recovery, with the mining sector in particular being one of the fastest recovering industries in the world.
Peru also presents multiple opportunities for doing business, including the agricultural sector, mining, IT, and tech, and tourism. Biz Latin Hub can help with market entry and offers back-office services such as legal, accounting, tax advisory, and recruitment. Contact us now to discuss your business options.
