After 15 years of the Peru-United States Trade Promotion Agreement, North America placed as the second most important commercial partner of Peru and the main destination market for non-traditional products, including agricultural exports, according to the Minister of Foreign Trade and Tourism, Elizabeth Galdo.
“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 said.
In turn, the U.S. ambassador to Peru, Stephanie Syptak-Ramnath, highlighted that “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 was signed in Washington D.C. on April 12, 2006, and entered into force on February 1, 2009. This trade agreement has been beneficial to Peru’s economic development and became a reference for subsequent international trade negotiations.
During the 15 years of validity, more than 9,000 Peruvian companies have entered the U.S. market for the first time. In 2023 alone, almost 3,000 Peruvian companies exported to the U.S., of which 63 percent were small and medium sized enterprises.
By 2023, the U.S. continues to position itself as Peru’s second largest trading partner worldwide, with a total trade exchange value of more than $19 billion, representing 17 percent of Peru’s trade with the world.
In 2023, the main products exported to the U.S. included blueberries ($967 million), grapes ($841 million), asparagus ($288 million); gold ($941 million), copper ($726 million); cotton clothing ($525 million), among others.
After 15 years of the Peru-United States Trade Promotion Agreement, North America placed as the second most important commercial partner of Peru and the main destination market for non-traditional products, including agricultural exports, according to the Minister of Foreign Trade and Tourism, Elizabeth Galdo.
“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 said.
In turn, the U.S. ambassador to Peru, Stephanie Syptak-Ramnath, highlighted that “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 was signed in Washington D.C. on April 12, 2006, and entered into force on February 1, 2009. This trade agreement has been beneficial to Peru’s economic development and became a reference for subsequent international trade negotiations.
During the 15 years of validity, more than 9,000 Peruvian companies have entered the U.S. market for the first time. In 2023 alone, almost 3,000 Peruvian companies exported to the U.S., of which 63 percent were small and medium sized enterprises.
By 2023, the U.S. continues to position itself as Peru’s second largest trading partner worldwide, with a total trade exchange value of more than $19 billion, representing 17 percent of Peru’s trade with the world.
In 2023, the main products exported to the U.S. included blueberries ($967 million), grapes ($841 million), asparagus ($288 million); gold ($941 million), copper ($726 million); cotton clothing ($525 million), among others.
Marco Campos is Media Coordinator, Latin America for Blue Book Services
