Peru a booming market

Peru a booming market

Peru is most underestimated in regard to its economic prosperity. Since 2002 – 2008 the GDP General Domestic Product gained steadily from 5.0 % to 9.8 % on an annual basis then there was a dip due to the worldwide financial crises to only 0.9 % to recover in 2010 to 8.8 % growth.

The economic thriving growth led also to a impressive development of consumer goods imports, namely from 2001 to 2008 steadily from US 1635 million to USD 4520 million. 2009 there was a dip to USD 3’962 (higher as total of 2007 with USD 3189 million) and a recuperation 2010 to USD 5489 million.

There is also an interesting relationship with Hong Kong’s exports to Peru with impressive growth rates. Total exports increased from 2009 (contraction in 2008 was only 0,4 to USD 116 million) to first half year 2011. 2009 the value increased to USD 137 million (+8.3 %), 2010 USD 143 million (+3.9 %) and in the first half of 2011 USD 88 million (+46.5%).

Of course looking at the different product segments the gains are more impressive. Let’s look at Fashion products they increased in 2008 by 5.2 % to USD 23 million, 2009 they decreased by 8.3 % to USD 21 million with a recovery of 14.0 % to USD 24 million in 2010 and 88.7 % to USD 18 million in the first half of 2011.

Clothing exports fell 2008 by 2.5 % to USD 12 million and contracted again 2009 by 5.1 % to USD 11 million but regained in 2010 by 16.6 % to USD 13 million and by 65.1 % to USD 9 million in the first half of 2011.

Also footwear exports were growing 2008 by 38.1% to USD 8.0 million. In 2009 they fell by 31.4 % to USD 5.0 million but gaining 51.9 % to USD 8 million in 2010 and 111.1 % to USD 2 million in the first half of 2011.

Other consumer goods categories flourished even more, especially electronics, telecom, AV und IT equipment and to a lesser degree travel goods and handbags as well as gifts, toys and games.

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