Peru is a country with a wealth of natural resources, not just minerals. It also has important reserves of hydrocarbons and abundant water resources, with an extensive oceanic coast. Its situation, in front of one of the most productive fishing grounds in the world, makes Peru a fishing power worldwide. Despite this abundance of resources, Peru seeks to diversify its productive base to reduce economic dependence on commodity exports.

On the other hand, the relevant geostrategic position that Peru occupies in the region makes this country a natural outlet for products from the interior of Brazil destined for Asian markets. This connection is being promoted with the construction of important transport infrastructure.

Bilateral trade relations

Spain is one of the main foreign investors in Peru. In addition, it also maintains close cooperation for development in this country. Spanish direct investments have a cumulative value of 4.5 billion euros, the Peruvian market being the fifth destination of our IDE in Latin America. In the Peruvian market there are more than 400 established Spanish companies and their annual sales exceed 16.2 billion dollars.

Trade exchanges are characterized by a deficit balance on the Spanish side. Between 2014 and 2017, the bilateral trade balance between Spain and Peru ranged between 600 million and 1.3 billion euros favorable to Peru.

In 2018, our exports reached 725 million euros, while imports from Peru exceeded 1,780 million euros, compared to 893 million and 2,201 million euros recorded in 2017 respectively. Trade between the two countries has been reinforced since 2013 with the signing of a free trade agreement between the European Union and Peru (Multipart Agreement).

Steel products, equipment and machinery for construction and public works, irrigation systems, electronics, textile machinery, equipment for communities and mining equipment are some of the chapters of the Spanish export offer to the Peruvian market.

Our imports continue to focus on basic products and raw materials: fuels, copper and zinc ores, fishery products, canned vegetables, fruits, vegetables and fishery products.

Business opportunities

Among the opportunities offered to foreign companies for investment are those related to transport infrastructure, a sector driven by an ambitious modernization program that goes from the construction of metro lines in Lima to numerous projects of roads, ports and airports. The sectors related to public works projects have good prospects: engineering, consulting, equipment, machinery and construction materials, among others.

Water sanitation is another sector of opportunity that the Peruvian Government considers a priority and to which it is devoting significant resources to finance numerous projects until 2021. Information technology and telecommunication (development of smart cities) are also another relevant niche, together with agriculture for export, fishing and aquaculture, tourism, textile and clothing and information technologies.

>> Links of interest:

Peru: country file

Peru: country guide

Peru: economic and commercial report

Main exported sectors

Main imported sectors

Peru, a reference for the Spanish company

ProInversión: Private Investment Promotion Agency – Peru

PromPerú: Commission for the Promotion of Peru for Export and Tourism

Directory of the main Peruvian companies

Chamber of Commerce of Spain in Peru

ICEX, Spain Export and Investment

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