The "Qiankai Effect" Boosts Peru's Goods Export Value to a Record High in 2025

Lima News: Peru's Ministry of Foreign Trade and Tourism announced on the 3rd that the country's goods export value reached $90.082 billion in 2025, a 21% increase from the previous year, setting a new historical record; exports to China grew by over 30%, becoming a major driver of Peru's annual goods export growth.

Peruvian industry experts pointed out that the record-high export value is attributed to the "Chancay Effect." Former Chairman of Peru's National Port Authority, Juan Carlos Paz, stated that the Port of Chancay significantly reduces shipping times between Peru and Asian trading partners like China, lowers transportation costs, and enhances the competitiveness of Peruvian exports.

According to the announcement from Peru's Ministry of Foreign Trade and Tourism, the strong performance in foreign trade in 2025 was driven by outstanding results across multiple industries, with ceramics exports growing by 49.6%, fisheries by 29.1%, mining by 25.9%, and agriculture by 18.5%.

The announcement also revealed that China remains Peru's primary trading partner, accounting for 36.2% of Peru's total exports, with export value increasing by over 30% compared to the previous year; the European Union is Peru's second-largest export destination, with export value growing by 24% year-on-year.

Peru's Ministry of Economy and Finance recently reported that tax revenue generated through the Port of Chancay exceeded 1 billion soles (approximately $298 million) in 2025. Peru's Minister of Economy and Finance, Denise Milales, stated that this not only reflects the growing vitality of the Port of Chancay but also underscores the strategic importance of this infrastructure for Peru's foreign trade.

The Port of Chancay is a key project under the China-Peru Belt and Road Initiative. Since its inauguration in November 2024, as South America's first smart port, the Port of Chancay has seen simultaneous growth in throughput and export capacity. Within just one year, it has rapidly become Peru's third-largest port, fostering the rise of new business models and accelerating the upgrading of regional industrial chains.