Peru: Non-traditional exports remain strong despite US-China trade war

LIMA, Peru, May 24 (NNN-ANDINA) – Peruvian non-traditional exports remain solid and strong, despite the trade war between the United States and China, Foreign Trade and Tourism Minister Edgar Vasquez has informed.

This strength is reflected in a 7% increase in said shipments during the first quarter of 2019.

“Peru is one of the economies that is better prepared —according to international organizations— to endure any dispute that may result in a trade slump,” the official expressed.

Likewise, he explained the Peruvian economy is one of the most stable ones not only in Latin America, but also around the world.

This is because it relies on solid economic foundations, which have allowed it to be one of the three countries in the region that maintain their investment grade.

“In 2018, Peru expanded 4% when the Latin American economy was almost in recession, and this was true not only last year, since in the last years the country has always grown two percentage points faster than the Latin American average,” the minister added.

Furthermore, Peru has the lowest inflation rate in the region and the highest international reserves.

“Plus, our public debt is stable, which makes us a country with high credibility,” Vasquez said.

The official also underscored that the Inca country is highly integrated into the world due to the 19 trade agreements in force.

NNN-ANDINA