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Peru: Country of Opportunities
Jaime Cárdenas
Deputy Director – Exports
March 03, 2009
Summary
• Economy
• Trade
• Potential
• Shows and Exhibitions
GDP
(Porcentual variations)
• Ten years with a positive GDP
• GDP 2008: 9.8%
12
9.8
10 8.9
7.7
8 6.8
6 5.0 5.0
4.0
4 3.0
2 0.9
-0.7 0.2
0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
-2
Source: Peru Central Bank (BCR).
Economic growth has been among the highest in the
world
Growth has been
led by private
investment and
consumption, as
well as by a
significant
recovery of public
investment.
Source: IMF Country Report No. 09/40
The economy is more open,
with a better business climate
Peru has been liberalizing
external trade through tariff
reductions in recent years
and has also been seeking
enhanced market access
through new bilateral
agreements.
To complement the
approval of the Peru-U.S.
FTA earlier this year, the
authorities have continued
negotiations with the EU
and China, among others.
Source: IMF Country Report No. 09/40
Doing Business Peru
Doing Business: measuring business regulations
Doing Business 2009 rank
Ease of… United
Argentina Brazil Ecuador Peru
States
Doing Business 3 113 125 136 62
Starting a Business 6 135 127 158 116
Dealing with Construction Permits 26 167 108 85 115
Employing Workers 1 130 121 171 149
Registering Property 12 95 111 64 41
Getting Credit 5 59 84 84 12
Protecting Investors 5 104 70 126 18
Paying Taxes 46 134 145 69 85
Trading Across Borders 15 106 92 124 93
Enforcing Contracts 6 45 100 101 119
Closing a Business 15 83 127 131 96
Source: Doing Business 2009 - The World Bank
Competitiveness on the rise
2008-09 Global Competitiveness
Index
7 Peru's Competitiveness
5.7
6 5.5 5.6 Index
4.7
5
4.1 4.1 4.2
4.0 4.0 • 2008-09 GCI: 3.95 (83rd
3.9
4 3.4 3.6 3.4 3.6 out of 134 countries)
3 2008-09 Sub-Indexes ICC:
2
• Technology: 87
1
• Institutions: 101
0
• Macroeconomics: 67
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Source: World Economic Forum – 2008
Selected Countries: inflation 2008
(%)
10
7.7
8 7.2 7.1
6.7 6.5
5.9 5.9
6 4.9
4.0 3.8
4 2.8
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Inflation has risen but remains low by regional standards. Headline
inflation was 6.7 percent in 2008, above the 2 percent target (+/- 1
percent band), mostly driven by higher food and fuel prices.
However, pressures broadened, with core inflation (excluding food
and fuels) rising from 1.5 percent at end-2007 to 4¼ percent at end-
2008.
Source: IMF Country Report No. 09/40
Investment Grade Ratings
BBB- (S&P and Fitch): Moderate credit risk or adequate
payment capacity.
The rise of the ratings is due to the significant decrease in Peru´s
fiscal and external vulnerabilities, broad and diversified sources of
growth, low level of inflation and strengthening of macroeconomic
fundamentals.
Source: Proinversión, COFACE
TRADE
Peru's Foreign Trade
• Eight years with a positive trade balance
• Average Annual Growth 08/99:
Exports: 20.7%
Imports: 18.2%
• Total Trade 2008:
35,000
US$ 58,082 millions
30,000
25,000
20,000
15,000
10,000
5,000
0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
(5,000)
Exports Imports Trade Balance
Source: SUNAT. Prepared by: PROMPERU
Export Boom for Peru
• 70 months of sustainable growth
• Average Annual Growth 08/03:
35,000 29% or US$ 5,764 millions per year
31,163
30,000 • Growth 08/07: 11% 28,084
25,000 23,799
20,000 17,301
15,000 12,732
9,040
10,000 7,665
6,044 6,883 6,956
5,000
0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Source: SUNAT. Prepared by: PROMPERU
Peruvian Exports Structure
• Average Annual Growth 08/03:
Traditional: 31%
Non-Traditional: 24%
• Export Share in 2008
35,000 Traditional: 76%
Non-Traditional: 24%
30,000
25,000
20,000
15,000
10,000
5,000
0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Traditional Non-Traditional
Source: SUNAT. Prepared by: PROMPERU
Peruvian Exports Structure
New external markets, with about two-thirds of external trade (exports) to be
covered under bilateral free trade agreements. They stressed that these
agreements should continue to provide the private sector with an important
window to continue diversifying exports, particularly in light of the weakening
global conditions.
Source: SUNAT. Prepared by: PROMPERU
Traditional Exports
(in US$ million FOB)
Mining Oil and Derivatives
3,000 2,856
21,000
18,337
17,439 2,407
18,000 2,500
14,706
15,000 1,899
2,000
12,000 9,790
1,590
9,000 1,500
7,129
6,000 1,000 687
3,000
500
0
2004 2005 2006 2007 2008 0
2004 2005 2006 2007 2008
2,000 Fishing 1,793 800 Agriculture
686
700
1,600 1,460 574
1,303 1,335 600
1,104 500 460
1,200
400 325 331
800 300
200
400
100
0 0
2004 2005 2006 2007 2008 2004 2005 2006 2007 2008
Source: SUNAT. Prepared by: PROMPERU
Main Traditional Exports
(in US$ million FOB)
Var (%) Part (%)
2007 2008
07/08 08
Copper Concentrate 4,614 4,897 6.2% 20.7%
Gold 4,184 5,553 32.7% 23.5%
Copper Cathodes 2,395 2,697 12.6% 11.4%
Zinc Concentrate 2,319 1,294 -44.2% 5.5%
Molybdenum Concentrates 991 1,079 8.9% 4.6%
Fishmeal, with fat weight >2% 818 1,413 72.7% 6.0%
Lead Concentrate 649 801 23.4% 3.4%
Crude Oil 620 587 -5.3% 2.5%
Tin 595 380 -36.1% 1.6%
Silver 538 595 10.6% 2.5%
Others 4,042 4,374 8.2% 18.5%
TOTAL 21,766 23,673 8% 100%
Source: SUNAT. Prepared by: PROMPERU
World's largest exporter (Traditional)
World
HS6 Product
Rank
150420 Fish Oil 1
260800 Zinc concentrate 1
230120 Fishmeal 1
261390 Molybdenum 1
260700 Lead 2
260300 Copper concentrate 2
261610 Silver 3
800110 Tin 3
780110 Lead 3
740311 Refined copper 4
710812 Gold 4
090111 Coffee 7
710691 Silver 7
Source: TradeMap CCI. Prepared by: PROMPERU
Non-Traditional Exports
(in US$ million FOB)
Var (%) Var (%)
2007 2008
07/06 08/07
Agricultural 1,512 23.9 1,916 26.7
Textile 1,736 17.9 2,023 16.5
Fishing 504 14.6 627 24.3
Chemical 805 34.0 1,042 29.4
Metalworking 220 34.3 325 47.7
Sidero-Metallurgical 802 11.8 823 2.6
Non Metallic Mining 165 22.0 176 6.5
Woods and Papers 362 8.9 427 18.1
Furs and Leathers 32 (6.4) 28 (12.5)
Others (including jewlry) 179 4.6 177 (1.5)
TOTAL 6,317 19.5 7,563 19.7
Source: SUNAT. Prepared by: PROMPERU
Main Non-Traditional Exports
(in US$ million FOB)
Var (%) Part. (%)
2007 2008 08/07 08
Refined Copper Wire 263 286 9% 4%
Fresh Asparagus 236 231 -2% 3%
Cotton knitted T-shirts, single colour 213 202 -5% 3%
Canned asparagus 156 185 18% 2%
Other cotton knitted T-shirts 133 166 25% 2%
Cotton knitted shirts, single colour 116 113 -2% 1%
Zinc, non-alloy, containing by weight <99.9% 106 76 -29% 1%
Giant squid 105 126 21% 2%
Other cotton knitted blouses 90 91 1% 1%
Jewelry 81 60 -25% 1%
Source: SUNAT. Prepared by: PROMPERU
Main Non-Traditional Exports
(in US$ million FOB)
Var (%)
2007 2008 08/07 Part. (%) 08
Zinc Oxide 79 60 -24.0% 0.8%
Evaporated milk 65 89 36.3% 1.2%
Canned artichokes 65 83 28.5% 1.1%
Mangoes 63 64 1.2% 0.8%
Fresh Grapes 60 86 43.5% 1.1%
Paprika 56 86 54.3% 1.1%
Canned gian squid 55 100 81.5% 1.3%
Cedar Wood 55 28 -49.2% 0.4%
Cotton knitted T-shirts for boys 54 42 -23.0% 0.6%
Film polypropylene sheets 54 89 65.0% 1.2%
Source: SUNAT. Prepared by: PROMPERU
World's largest exporters (Non-Traditional)
World
HS6 Product
Rank
070920 Fresh or refrigerated asparagus 1
440724 Virola, mahogany wood, sawn 2
790500 Zinc plates and strips 2
200560 Canned asparagus 2
090420 Paprika 3
320500 Colouring lacquers 3
071339 Dried beans 4
040291 Milk 4
200590 Prepared vegetables 4
080450 Mango 5
281700 Zinc Oxide 5
283325 Copper sulphate 5
610510 Cotton shirts 6
080440 Avocados 7
611420 Cotton knitted garments 9
Source: TradeMap CCI. Prepared by: PROMPERU
World's largest exporters (Non-Traditional)
World
HS6 Product
Rank
030729 Frozen scallops 7
550130 Acrylic and modacrylic cable 7
680221 Marble, travertine and alabaster 8
030749 Frozen giant squid 8
160590 canned crusaceans 8
320300 colouring matters 8
740821 Copper alloy wire 9
790700 Manufactures of zinc 10
610610 Cotton blouses 10
071080 Frozen asparagus 12
160419 Peruvian sardine preparations 12
740919 Copper plates and strips 14
610910 Cotton T-shirts 14
440920 Wood, sawn or cut lengthwise 15
Source: TradeMap CCI. Prepared by: PROMPERU
Peruvian Presence in Worldwide Trade
4,750 tariff items
178 markets
6,656 exporters
Source: SUNAT. Prepared by: PROMPERU
POTENTIAL
Textile and Garments Sector
2,500
2,023
2,000 1,736
1,472
1,500 1,275
1,092
1,000 823
Average Annual Growth 08/03: 20%
500
Enterprises: 2,158
0 Tariff Items: 674
2003 2004 2005 2006 2007 2008
France Others 2008 Var. (%) Part. (%)
Ecuador 2% 16% Cotton T-Shirts 483 3 23.9
2% Cotton Shirts 272 7 13.5
Italy Cotton Blouses 186 23 9.2
3% Cotton Sweaters 97 15 4.8
United
Chile Cotton Tank Tops 47 0 2.3
States
3% 48%
Plain-Cotton Pants 43 37 2.1
Dyed cotton Fabric 42 97 2.1
Colombia
Others 848 25 42.0
3%
TOTAL 2018 16 100.0
Venezuela
23%
Source: SUNAT. Prepared by: PROMPERU
Agricultural Sector
2,500
1,916
2,000
1,512
1,500 1,220
1,008
1,000 801 Average Annual Growth 08/03: 25%
624
Enterprises: 1,430
500
Tariff Items: 517
0
2003 2004 2005 2006 2007 2008
Others United
2008 Var. (%) Part. (%) 28% States
Asparagus 451 7 23.6 32%
Paprika 136 41 7.1
Evaporated Milk 89 36 4.7 Colombia
3%
Artichoke 83 5 4.3
Ecuador
Banana 46 46 2.4
4% Spain
Grapes 86 43 4.5 14%
United The
Fresh Mangoes 64 1 3.3 France
Kingdom Netherlands
Others 959 38 50 5% 5% 9%
TOTAL 1912 26 100.0
Source: SUNAT. Prepared by: PROMPERU
Fishing Sector
700 627
600
504
500 440
400 331
285
300 210 Average Annual Growth 08/03: 25%
200
Enterprises: 473
100
0
Tariff Items: 113
2003 2004 2005 2006 2007 2008
Spain 2008 Var. (%) Part. (%)
Others
34%
20% Frozen giant squid 126 21 20.1
Frozen prepared squid 100 82 16
United Scallops 43 42 6.9
States Prawn tails 43 36 6.9
Japan 16% Mahi Mahi 36 62 5.8
4% Whole Mahi Mahi 26 30 4.2
China Prepared Mackarel 20 58 3.2
Italy 10%
South
Others 232 2 37.1
5%
France Korea TOTAL 626 24 100.0.
5% 6%
Source: SUNAT. Prepared by: PROMPERU
Chemical Sector
1,200
1,042
1,000
805
800
601
600 538
400 316
415 Average Annual Growth 08/03: 27%
Enterprises: 1,722
200
Tariff Items: 795
0
2003 2004 2005 2006 2007 2008
Colombia 2008 Var. (%) Part. (%)
14% Polyproplene sheets 104 12 10.0
Others
34%
Sulfuric acid 67 202 6.4
Chile
13% Zinc Oxide 60 -24 5.8
Phosphate 60 203 5.8
The
Ecuador PET 54 -7 5.2
Netherlands
4% 11% Caustic soda 46 85 4.4
Bolivia
Cleaning Preparations 31 114 3.0
United Others 619 25 59.5
10%
Kingdom Venezuela
6%
TOTAL 1041 29 100.0
8%
Source: SUNAT. Prepared by: PROMPERU
Sidero-Metallurgy Sector
1,000
802 823
800 717
600
386
400 300
200
193 Average Annual Growth 08/03: 37%
Enterprises: 518
0
Tariff Items: 258
2003 2004 2005 2006 2007 2008
2008 Var. (%) Part. (%)
Colombia Refined copper wire 286 9 34.8
Others 29% Zinc, with <99.9% 76 -29 9.2
34%
Laminated steel bars 64 59 7.8
Steel bars for construction 52 91 6.3
United Copper bars 46 4 5.6
States Brass wire 26 6 3.2
Italy
4%
9% Silver, alloy 24 135 2.9
Venezuela
Others 249 -13 30.3
Chile
6% Brasil Bolivia 6% TOTAL 823 3 100.0
6% 6%
Source: SUNAT. Prepared by: PROMPERU
Wood Sector
500
427
400 362
333
300 262
214
200 172
Average Annual Growth 08/03: 20%
100
Enterprises: 1,521
0 Tariff Items: 186
2003 2004 2005 2006 2007 2008
Others United 2008 Var. (%) Part. (%)
19% States Cedar wood 60 45 14.0
Bolivia 21%
Tampons and dipers 46 56 11.0
5%
Virola and balsa wood,sawn 40 21 9.0
Ecuador Commercial catalogs 40 13 9.0
7% Book and printings 31 4 7.0
Mexico Wood, sawn lengthwise 29 32 7.0
Venezuela 20%
8% Wood, sawn from tropical wood 28 -49 7.0
Others 152 31 36.0
Colombia China
TOTAL 425 18 100.0
8% 12%
Source: SUNAT. Prepared by: PROMPERU
Peru's Exportable Offer
Cajamarca
Gold Amazonas
Loreto
Tumbes Bamboo
Cherimoya Timber
Whiteleg Yucca
shrimps, Garlic, coffee, Pijuayo
Fishing for tara Cacao Kidney beans,
direct yucca
consumption Aquaculture
Piura
Ucayali
Mango San Martin
Coal
Fish, shellfish Coffee
Lemon Lambayeque Tahiti lemon Sawn wood and
timber
Sugar cane Huánuco Pijuayo, cacao
(ethanol) Cat's claw, oil
Black eyed Papaya Papaya palm
beans
Lemon Tea, olluco Madre de
Sawn wood Dios
Mango Pasco
Chestnut
Lead
La Libertad Ancash Timber
Zinc, silver
Sugar cane Gold, copper Watermelon
Junín Achiote, maca
(ethanol) Fishmeal Artichoke Cusco
Asparagus
Medicinal Maca, sauco Natural gas
Guanabana herbs
Grape, tara, Citrus fruits Ayacucho Achiote,
pepper Marigold cacao, tea
Barbasco
Alpaca, sheep
Lima Apurímac Huancavelica Cochineal, Cochineal
Ica tuna
Lucuma Aniseed Barley
Fig Vicuña, cacao Puno
Tangerine Watermelon Tuna
Grape Alpaca, vicuña
Avocado Cochineal Alpaca
Artichoke Tin
Paprika Arequipa
Asparagus Moquegua Tacna Quinua
Garlic
Molybdenum, Olive
Onion copper
Paprika, Oregano
Grape
Cochineal, Cochineal
Source: Proexpansión olive Paprika,
Worldwide Business Platform
WTO
EFTA
Russia
Canada Europea
n
Union
Korea
USA China Japan
Mexico: ECA 8 Morocco
ECA extended India
CARICOM APEC
Thailand
Central America
CAN Singapore
MERCOSUR ECA 58 South Africa
Australia
Chile: ECA 38
ECA extended
Countries with trade agreements in force
Countries with signed agreements come into force
Countries with trade negotiations in process New Zealand
Countries with trade negotiations in the near future
Countries with future trade negotiations
Total exports to these countries in 2007 : US$ 26,573 millions (96% of total)
Shows and Exhibitions
in Peru
Más de 400 expositores
7000 visitantes provenientes de
35 países
Oferta:
Empresas de Confecciones,
calzado, accesorios, joyería,
servicios, insumos y maquinaria
textil
Gifts and decoration items.
Offer of handicrafts and home decorative articles.
Modern and ethnic products inspired by traditions
from several regions of Peru..
140 exporters
120 international buyers
2,500 m2
Promotion of Biotrade issues by
emphasizing the natural ingredients
and products.
Information on Biotrade Fund
Commercial mission (BHK)
Exhibition room
Simultaneous activities in regions
Target audience
Involved in natural ingredients and products in
Peru and in the Andean-Amazon jungle region.
Private sector (establishing enterprises and
initiatives – SMEs)
Importers and wholesalers from main destination
markets: EU, Asia and USA.
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