Performance of exports in the first quarter of the year
News from 08 to 21 June 2023
Explore the export landscape in the first quarter of 2023. In this edition, we offer an analysis of growth and opportunities in Latin America.
Peru increased shipments to its main partners
The Minister of Foreign Trade and Tourism, Juan Carlos Mathews, said that at the end of the first quarter of the year, Peruvian exports to its 3 main trading partners amounted to US$12,800 million (+8.5% over the previous year).
China was the main destination, with 34% of the total exported. Shipments reached US$7,529 million (+6.6% compared to 2022). Outstanding sales were: fish products such as fowl (887%) and minerals such as zinc (25.5%), lead (8%), and copper (7%).
This was followed by the United States, which added US$3,035 million and whose outstanding sales were gold (44.4%), grapes (23.5%), copper (67.8%), and molybdenum (58.4%). And finally, the European Union ranked third by totaling US$2,237 million (+4.3% over 2022) thanks to the increase in shipments of copper (98.5%), avocado (459%), and anthracite (40 million).
Mexico was the main exporter to the United States
Mexico ranked as the main exporter of products to the United States from January to April this year, totaling US$153,569.7 million in shipments (+58% compared to the same period in 2022).
The trade war between the United States and China, combined with the boom that the Mexican territory presented by the nearshoring, Mexico became the number 1 external supplier of the US market.
In 2022, Mexico’s current account registered a deficit of US$13,400 million (0.9% of PIB), compared to US$8,200 million (0.6% of PIB) in 2021. The current account deficit increased mainly due to a larger decrease in oil trade and a smaller non-oil trade surplus.
Colombia and the performance of its livestock shipments
Livestock shipments totaled more than $115.6 FOB million in the first 4 months of 2023, of which US$68.3 million corresponds to revenue from shipments of standing animals and US$47.3 million to beef exports.
Compared to shipments from the same period last year, this represents a difference of -42.4% (equivalent to US$85 million) and -17.7% compared to the US$140.3 million of the first quarter of 2021. Still, they exceed by almost 55% the US$74.6 million of the same period in 2020 and by almost 230% the US$35.2 million reached until April 2019.
In more specific data cut to April, 88,509 live animals were exported to Egypt, Saudi Arabia, Jordan, and Lebanon, representing an income of about US$70 million. And regarding the volume of shipments of beef and its viscera, these totaled 12,090 tons ($47.3 million FOB), which meant an increase of 192 t compared to 11,898 t a year ago, being Russia the main destination.
Chile recorded a historical record in its exports
Between January and April 2023, Chilean exports recorded their largest record. Foreign sales rose to US$34,633 million (+7.3%). And of the total exported, 95.6% went to destinations with which Chile has economic-commercial agreements.
The dynamism of national shipments was led by molybdenum oxide, fresh cherries, iodine, pork, tires, machinery, cardboard, salmon, dried fruit, blueberries, kiwis, and corn seeds, to name a few.
And in terms of the geographical distribution of shipments, Europe was the region that exported the most, reaching US$3,403 million (+17.4%). North America followed with operations for US$6,096 million (+8.4%), and Latin America with returns of US$4,300 million (+12.5%).
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