The Exporters Association of Peru (Adex) made an adjustment in the projection of exports because of the recovery of some sectors, hence this year would close with 7.3% fall in exports.
"Looking at the figures of the first quarter (-19%), Adex readjusted its forecast for this year's exports with a 7.3% drop. The improvement in the fishing extraction and the gradual recovery of the mining sector allows us to anticipate that exports will begin to recover in the last quarter of 2015," said Eduardo Routledge, president of Adex.
However, he said, there are a number of factors affecting non-traditional exports and there will be a continuous deterioration of these exports in the remainder of the year.
"In 2009, the Government generated an increase in the Drawback of 8% and the number of exporting companies increased by 295, which helped to sustain business growth," he said.
However, he said, this time the Government decided to lower the Drawback from 5% to 4%, so the number of exporters declined by 305 in the first quarter of the year compared to the same period of 2014.
Exports
Regarding exports in the period between January and April, Routledge said they were deteriorating and that the crisis was reaching an alarming level, "as no emergency measures have been adopted and the conditions to renew growth in the medium term have not improved."
If there continues to be a drop in exports for a long time it's because the country has failed to adapt to these new conditions, he said. One would expect investment and increased production to get us out of this situation, but they have been hindered, he added.
Source: Gestión.pe