Peru's exports to Brazil grow by 80.77 pct, this year

Peru’s exports, between January and August 2011, totaled $919 million

Peru's exports to Brazil grow by 80.77 pct, this year

Ollanta Humala meeting with Brazilian President Dilma Rousseff (Photo: Brazilian Presidency's Office)

Peru\‘s exports to Brazil grew 80.77% between January and August 2011, compared to the same period in 2010.

Peru’s exports totaled $919 million, according to statements from Peru\‘s economic and commercial counselor in Sao Paulo, Antonio Castillo.

Castillo said growth in exports during the first eight months of the year had reduced the trade deficit with Brazil by 50%.

"Currently the deficit is $554 million and the growth rate of Peru\‘s exports is greater than the Brazilians who have 17%," he told Andina news agency.

According to Castillo the growth of Peruvian exports to Brazil was based on traditional exports, which had previously represented 10% and now represented 28% of the total.

He also mentioned that Brazil would become the second largest market for Peruvian textile exports, due to the United States decreasing exports by three or four percent, and Brazil increasing theirs by almost 42%.

"Brazil is an alternative market, with prices above those of Chinese products," he said in during third Expoalimentaria forum.