BRASILIA: Exports fell 10.5% in 2014 as commodities led by metals dropped 16.2%, said ADEX president Gastón Pacheco. Peru, the world’s third largest copper, zinc and tin exporter, saw export earnings slump for a third year in 2014, due to declines in commodities prices and shipments.
2014 was a bad year for Peruvian exports,” Pacheco said in a statement posted on the group’s website. “Commodities experienced lower prices and production, and there were delays in the startup or expansion of major mining operations that could have partly compensated for the drop.
Exports have fallen steadily since peaking at a record US$46.3bn in 2011, according to the central bank. Peru’s export earnings slumped 10.6% through October, compared to Chile (-6%), Argentina (-5.2%), Brazil (-3%) and Colombia (-1.8%), ADEX said.
Exports totaled US$31.7bn through the first 10 months, while metals export revenue dropped 18.2% to US$16bn, according to the central bank.
