📋 Tender Overview
In November 2024, the total volume of exported goods grew by 21.4% compared to the same month in 2023 and became the highest real value of total exports of that year. This positive performance was due to higher shipments of traditional (23.0%) and non-traditional (18.1%) products.
The National Institute of Statistics and Informatics (INEI) in the technical report Evolution of Exports and Imports highlighted the growth of exports in the mining sector (23.4%), mainly copper (14.2%) and lead (133.6%), among others. Shipments of gold (32.1%), zinc (29.1%), iron (8.4%) and refined silver (72.0%) also showed positive performance.
Likewise, the oil and natural gas sectors showed progress (28.9%), a result that was supported by the advance of crude oil (151.4%), oil derivatives (2.4%) and natural gas (36.7%). In the fishing sector, shipments of fish oil stood out (435%), while fishmeal decreased (-1.1%). On the other hand, the agricultural sector decreased by 16.9%, due to lower coffee sales (-33.2%).
Export volume of non-traditional products grew by 18.1%
In November 2024, the export volume of non-traditional products increased by 18.1%, compared to the same month in 2023. This result was supported by the positive evolution of the agricultural, iron and steel, chemical and textile sectors. The growing performance in export volumes of the agricultural sector (26.7%) was explained by higher sales of blueberries (35.2%), fresh grapes (7.7%), mangoes and mangosteens (217.1%) and raw cocoa (20.0%).
Shipments from the iron and steel sector rose by 47.1%, explained by the improvement in the transaction of refined copper wire (26.5%), unalloyed zinc (16.0%), other refined copper sheets and strips with a thickness greater than 0.15 mm (297.3%) and iron or non-alloy steel bars with notches and cords (56.7%). Export volumes from the chemical sector increased by 5.0%, due to the increase in sales of zinc oxide (21.4%), polypropylene polymer plates (40.5%) and cochineal carmine (43.2%). The textile sector grew by 3.6%, supported by higher transactions of cotton polo shirts (10.3%), cotton knit shirts (25.4%) and cotton knit fabrics (20.1%). On the other hand, the export volumes of the fishing sector (-23.6%), non-metallic mining (-19.3%) and metalworking (-3.4%) showed an unfavorable performance.
Total imported volume increased by 21.9%
In November 2024, the total imported volume increased by 21.9%, compared to the same month in 2023. With the month of November, this indicator added five consecutive months of growth. From January to November 2024, real imports grew by 7.0% compared to the same period of the previous year, mainly due to the higher entry of capital goods and construction materials (8.9%), as well as raw materials and intermediate products (7.5%).
Importation of consumer goods increased by 18.9%
INEI announced that the import of consumer goods increased by 18.9% compared to the value reached in November 2023, due to the increase in purchases of non-durable consumer goods (14.1%) and durable goods (26.2%). The non-durable consumer goods that stood out the most were other footwear (27.0%), various toys (20.3%), concentrated milk and cream in granulated or solid powder (50.5%) and washing and cleaning preparations for retail sale (72.1%). They were also followed by televisions (109.8%), 4x4 off-road vehicles with piston engines (19.7%), plastic manufactures (56.1%) and other vehicles (40.9%), among durable consumer goods.
The purchase of raw materials and intermediate products increased by 27.3%
In November 2024, the imported volume of raw materials and intermediate products was 27.3% higher than the level reported in November 2023, explained by the higher purchases of imported fuels, lubricants and related products (41.1%), raw materials and intermediate products for industry (24.2%) and agriculture (2.7%). Among the imported fuels, lubricants and related products, crude petroleum oil (140.9%) and B5 diesel (35.2%) stood out. Likewise, among the most demanded raw materials and intermediate products for industry are hard yellow corn (18.3%), iron or steel waste and scrap (36.7%), polypropylene in primary forms (55.8%) and durum wheat except for sowing (32.5%). Followed by preparations for animal feed (8.5%) and mineral fertilizers with a nitrogen percentage greater than or equal to 45% but less than or equal to 46% by weight (55.8%), among raw materials and intermediate products for agriculture.
Import of capital goods and construction materials increased by 16.8%
In the month of analysis, the imported volume of capital goods and construction materials increased by 16.8%Construction materials grew by 16.8% compared to the volume recorded in November 2023, driven by higher purchases of goods in their different uses or economic destinations. Capital goods for industry reported a 19.9% variation in import volumes, due to the increase in purchases of smartphones (23.2%), data processing machines weighing less than or equal to 10 kg (50.5%) and digital or carrier current telecommunications equipment (10.1%). The imported volume of transport equipment increased by 6.1%, at the product level, assembled pick-up trucks (18.3%), tires used in vehicles and machines for construction and mining (23.6%), as well as radial tires for buses or trucks (31.5%) stood out.
Construction materials (26.1%) showed a similar behavior, in particular, ceramic plates and tiles (9.3%), and welded hollow tubes and profiles with a square or rectangular section (51.5%). As well as crawler tractors (71.9%) and parts of machines or equipment for poultry farming (231.1%), among the capital goods for agriculture.
