Peru receives Germany’s $7,2 mn contribution for forestry program

The Ministry of Economy and Finance accepted a non-reimbursable financial contribution granted by the German Development Bank (KfW), worth up to the sum of €6 million ($7,2 million), to partially finance the Promotion and Sustainable Management of the Forest Production in Peru investment program. According to Ministerial Resolution No. 145-2021-EF/52, published in the official newspaper El Peruano, the contribution … Continue reading Peru receives Germany’s $7,2 mn contribution for forestry program

Tax collection grew by 86.5% in April

Tax collection in April totalled S/14.82 billion ($3.87 billion), which was S/7.06 billion more than in the same month last year and a growth of 86.5%, informed the National Superintendence of Customs and Tax Administration (Sunat). In the case of income tax, S/8.13 billion was collected, an increase of 71.9% compared to April 2020. IGV collection reached S/5.90 billion, a growth of 70.7%.

Peruvian exports totalled $3.65 bn in March, up 32.5%

Peruvian exports amounted to $3.65 billion in March 2021, 32.5% more than the same period in 2020, said the Lima Chamber of Commerce (CCL). Eight out of the ten major destinations showed a positive growth. They include China, South Korea, Canada, Japan, India, the Netherlands, Switzerland, and Spain. The largest export amount was $1.08 billion, in sales to China, which cemented its position as the top destination for Peruvian exports.

75% of companies are postponing investments in Peru due to electoral uncertainty

Confidence to invest in Peru deteriorated in April from 3 points in February to 27 points in April, according to an SAE survey. The survey of 300 companies revealed that electoral uncertainty is the main reason for the decline in confidence. According to the survey, 75% of executives opted to postpone some short-term investment decisions. 4% decided to suspend their investment decisions indefinitely and 37% said they are likely to postpone their investments until after the second electoral round on 6 June.

Public investment in Peru reached $1.81 billion in the first quarter of 2021

Public investment in Peru in the first quarter of this year reached S/6.93 billion ($1.81 billion), according to data from the Ministry of Economy and Finance. At the national government level, execution reached S/3.06 billion ($795.90 million) or 12.9%. At the regional government level, execution reached S/1.09 billion ($283.88 million) or 12.7%, while investment execution in local governments reached S/2.79 billion ($725.84 million) or 12.7%.

Non-traditional agro-exports accounted for 17.6% of Peru’s shipments overseas

The non-traditional agro-export sector accounted for 17.6% of Peru’s total shipments overseas in the first two-month period of the year, the Peruvian Foreign Trade Society (Comex-Peru) reported. Non-traditional agro-exports totalled $1.303 billion between January and February, an increase of 13.5% compared to the same period in 2020. In this case, shipments of fresh grapes ($509 million, up 27.1%), mangoes ($166 million, up 3.5%), blueberries ($45 million, up 25.6%), and avocados ($39 million, up 76.2 %%) stood out.

Credit to private sector up 9.4% in March 2021

Credit to the private sector —which includes loans granted by banks, finance companies, cooperatives, as well as municipal and rural savings banks— grew 9.4% year‐on‐year in March, mainly due to loans associated with the Reactiva Peru Program, the Central Reserve Bank (BCR) has reported. Excluding the effect of this program, total credit to the private sector would have fallen 7.0% year-on-year.

Grape production up 11% in February 2021

Grape production in Peru totalled 109,350 tons in February this year, an 11% increase compared to the same month in 2020, the National Institute of Statistics and Informatics (INEI) reported. According to INEI, this result is explained by suitable climatic conditions that favoured grape production in regions like Ica (16.1%), Lima (10.5%), Tacna (8.7%), and Arequipa (6.5%), which accounted for 90% of the total production.