Peruvian agricultural shipments to South Korea fell -37.5% in the first five months of 2020
Peru
South Korea
Published Jul 31, 2020
Tridge summary
Agricultural shipments (traditional) amounted to US $ 21.6 million (+ 22.8%), due to the greater dynamism of coffee. Since January 1 of this year, the last stage of the tax relief of those tariff items under the "10" tax relief category came into effect, for which 526 additional items were added by South Korea, which facilitates the entry of various products that our country exports.
Original content
(Agraria.pe) On August 1, 2011, the Free Trade Agreement between Peru and South Korea entered into force. After nine years of its implementation, this country has strengthened its position as one of our main export destinations, reaching fourth place in 2019 and third during the first five months of this year. Regarding the performance of our exports to said destination in 2019, the Peruvian Foreign Trade Society (ComexPerú) indicated that these amounted to US $ 2,280 million, which reflected a cumulative growth of 34.4% in the period 2011-2019, according to figures of the Sunat. The international trade union said that the performance of 2019 showed a fall of 7.6% in relation to 2018. This result is explained by a contraction of 8.7% in shipments of the traditional item, which reached a value of US $ 1.97 billion and represented 86.4% of our sales to this destination. On the other hand, our non-traditional shipments totaled US $ 310 million, registering a decline of 0.4%. ...
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