Peruvian exports to the United States have surged dramatically over the past 15 years, thanks to the Peru-United States Trade Promotion Agreement. North America has emerged as the second most important commercial partner for Peru and the primary destination for non-traditional products, including agricultural exports, according to Elizabeth Galdo, Minister of Foreign Trade and Tourism.
“Since the agreement came into force, we have witnessed a 91 percent growth in Peruvian exports to the U.S. market, from a value of $4.7 billion in 2009 to more than $9.1 billion in 2023. In total, exports to the U.S. have reached $101 billion in these 15 years, of which 51 percent correspond to non-traditional exports,” Galdo stated.
U.S. Ambassador to Peru, Stephanie Syptak-Ramnath, emphasized the positive impact of this agreement, noting, “This agreement has resulted in impressive growth. The breadth and quality of the trade relationship and the added value have resulted in the creation of thousands of jobs. Exports to the U.S. create more than a million jobs. The most impressive trade growth is in agricultural exports. The U.S. Government, together with Peru, will continue working to promote the prosperity of our countries.”
The Peru-United States Trade Promotion Agreement, signed in Washington D.C. on April 12, 2006, and enacted on February 1, 2009, has significantly bolstered Peru’s economic development and has become a model for subsequent international trade negotiations.
Over the 15-year span, more than 9,000 Peruvian companies have ventured into the U.S. market for the first time. In 2023 alone, nearly 3,000 Peruvian companies exported to the U.S., with 63 percent being small and medium-sized enterprises.
By 2023, the U.S. has solidified its position as Peru’s second-largest trading partner worldwide, with a total trade exchange value exceeding $19 billion, representing 17 percent of Peru’s global trade. Major exports to the U.S. in 2023 included blueberries ($967 million), grapes ($841 million), asparagus ($288 million), gold ($941 million), copper ($726 million), and cotton clothing ($525 million), among others.
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