MercoPress. South Atlantic News Agency

Peruvian exports above pre-pandemic figures, report shows

This rebound was driven by the economic reactivation among trading partners in need of inputs for their supply chains

Exports of Peruvian manufacturers during the year 2021 have surpassed pre COVID-19 pandemic levels, it was reported Wednesday by the Institute of Economic and Social Studies (IEES) of the National Society of Industries (SNI).

Non-traditional industrial shipments totaled US $ 8,417 million, the SNI showed, which represented a 39.6% increase when compared to 2020 figures and a positive variation of 12% against 2019's results, the report also showed.

This rebound in exports was driven by the economic reactivation of Peru's trading partners and their need of inputs for their supply chains, the experts behind the report explained.

According to the SNI, exceeding their pre-pandemic sales were iron and steel (23.6%), chemicals (22.6%), textiles and clothing (21.6%) and non-metallic minerals. (11.3%). Still to bounce back to pre-pandemic levels at the end of 2021 were wood and paper (-12.6%), fishery (-5.6%) and metalworking (-3%).

The manufactured products to record the largest shipments abroad were refined copper wires (102.1% above 2019), polo shirts and knitted t-shirts (32.1%), natural calcium phosphates (25.6%), iron bars, and unalloyed steel (24%), among other items. These products were exported to over 160 countries, the main destinations being the United States (25.7%), Chile (9.5%), Colombia (7.5%), and Ecuador (6.4%), which represented improvements of over 20% to each buyer's pre-pandemic level.

According to the SNI, sales of refined copper wires abroad yielded revenues in the amount of US $ 398 million, a 94.6% growth compared to 2020 and an increase of 102.1% compared to pre-pandemic times.

This positive outcome is explained by the higher volumes exported to Peru's trading partners (35.2% against 2020 and 33% against 2019) and by copper's significantly higher prices. This product is used as a raw material in the manufacture of electricity wires and conductors for construction, transmission lines and machinery. Its main destinations were Colombia (55.1%), Ecuador (13.6%) and Venezuela (8.3%). Sales to these markets grew 67.8%, 120.7% and 313% respectively from 2019. When measures against times before COVID-19, demand also went up from Bolivia (1,162%), Brazil (558%) and Argentina (518.5%).