LatinNews Daily - 7 November 2024

*Peru’s foreign trade and tourism ministry (Mincetur) has released new figures which show that trade between Peru and the economies of the Asia-Pacific Economic Cooperation (Apec) group (which numbers 21 countries) totalled US$51.83bn in the first eight months of 2024, up 5.5% on the same period in 2023. Peru’s exports were worth US$30.90bn over that period, up 8.4% on the same period in 2023. As regards key Peruvian exports, the government highlights a rise in sales of silver concentrates (+125%) and fishmeal (+119%), as well as an increase in agricultural exports such as cocoa beans (+309%) and coffee (+75%). Apec’s exports to Peru totalled US$20.93bn, and include crude oil, which was up 35%, polymers (+24%), and cell phones (+12%). According to Mincetur, since joining Apec in 1998, Peru’s trade with its members has increased more than ten-fold with average annual growth of 9.9%. Last year Peru’s trade with Apec represented 67% of its total trade.