China becomes largest importer of Peru in 2017

LIMA - China, buying products worth $11.455 billion from Peru in 2017, has become the primary market for the South American country, the Chamber of Commerce of Lima (CCL) announced on Tuesday.

"China's most demanded commodities were copper minerals, copper cathodes, fish meal, iron minerals and silver minerals. The export value of these items increased by 31 percent, 37 percent, 65 percent, 26 percent and 23 percent, respectively, compared to 2016," said Carlos Posada, the executive director of CCL's Institute of Research and Development of Foreign Trade.

He also said the increase was principally due to the rise in the price of the mentioned products in the international market.

With a 36 percent increase in imports from Peru year-on-year, China, accounting for 26 percent of its partner's total exports in 2017, topped other countries and regions which import from Peru. The United States accounted for 16 percent, while the European Union (EU) occupied 15 percent.

Posada added that the United States mainly imported gold, gasoline, fresh grapes, asparagus and molybdenum while the EU focused on copper, natural gas, zinc and avocados.