In 2024, the Andean country achieved exports of US$76 billion, which allowed it to generate a positive trade balance of US$24 billion.

Peru's Ministry of Economy and Finance (MEF) plans to surpass the $100 billion mark in total exports in the medium term.

“Last year we achieved a historic record in exports, with shipments of 76 billion dollars. In the medium term, the country can be on track to exceed 100 billion dollars in exports,” said the head of the sector, José Salardi.

He said that commercial activity in 2024 allowed for a positive trade balance of 24 billion dollars, which also constituted a historical record.

He mentioned that in January of this year all business expectations for 3 and 12 months were in the optimistic range for eight consecutive months.

Fiscal accounts

On the other hand, Minister Salardi indicated that the MEF will emphasize the prudent and responsible management of fiscal accounts in 2025.

For this year, it projects a fiscal deficit of 2.2% of GDP and a public debt of 33% of GDP, the lowest among countries in the region.

It should be noted that economic activity in 2024 was characterized by a rapid recovery with growth of 3.3% and that macroeconomic strengths were consolidated, he pointed out.

In this regard, he said that the rating agencies highlighted Peru's macroeconomic strengths and long history of prudent fiscal management in 2024.

Fitch reaffirmed Peru's credit rating at "BBB" and upgraded its outlook from negative to stable in November 2024. For its part, Moody's also reaffirmed Peru's credit rating at "Baa1" and upgraded its outlook from negative to stable in September 2024, it added.