Peru’s exports to USA surge past USD 101B after 15 years

PERU/USA – Peru’s trade with the United States has reached a milestone, with exports exceeding USD 101 billion over the past 15 years.

The Peru-United States Trade Promotion Agreement, which took effect in February 2009, has been instrumental in this growth, significantly boosting Peru’s export sector and providing valuable opportunities for its entrepreneurs.

Elizabeth Galdo, head of Peru’s Ministry of Foreign Trade and Tourism (Mincetur), spoke at a commemorative event celebrating the agreement’s impact.

She emphasized the success of the trade deal, noting, “Since the Agreement entered into force, we have witnessed a 91% increase in Peruvian exports to the U.S. market, growing from $4.7 billion in 2009 to over USD 9.1 billion in 2023.”

The U.S. has become Peru’s second-largest trading partner, particularly for non-traditional products such as agricultural goods and textiles. In total, exports to the U.S. have reached $101 billion over 15 years, with 51% of this amount attributed to non-traditional exports, according to Galdo.

U.S. Ambassador to Peru, Stephanie Syptak-Ramnath, praised the agreement’s role in fostering job creation and trade growth. She stated, “The breadth and quality of the trade relationship have created thousands of jobs. Exports to the United States support more than one million jobs in Peru. The growth in agricultural exports is particularly noteworthy, and both countries will continue to work together to enhance our prosperity.”

Signed on April 12, 2006, and effective from February 1, 2009, the trade agreement has been a key factor in Peru’s economic progress.

It has become a model for future international trade negotiations. Over the 15 years, more than 9,254 Peruvian companies have entered the U.S. market for the first time.

In 2023, nearly 3,000 Peruvian businesses exported to the U.S., with 63% being micro, small, and medium enterprises (MSMEs).

In 2023, the top Peruvian exports to the U.S. included blueberries, grapes, and asparagus, alongside gold, copper, and cotton apparel. These products highlight the diversity and strength of Peru’s export sector.

The commemorative event featured key figures such as Ambassador Eric Anderson, Vice Minister Teresa Mera, and AMCHAM Executive Director Aldo Defilippi.

They were joined by representatives from major exporting associations and other Peruvian and U.S. officials, all acknowledging the significant benefits brought about by the trade agreement.

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