Economy & Business - March 2025

PERU | Chancay-Shanghai trade. In the first two months of operation, over 22,000 tonnes of cargo have been transported along the new direct maritime route between the Chinese-funded Chancay mega-port on the Peruvian Pacific coast, and the Chinese city of Shanghai, according to a report from Peru’s state news agency Andina on 5 March. Citing Chinese customs authorities, Andina reported that the total value of goods transported amounted to US$84.06m since the route began operating on 18 December 2024. It notes that the route is used twice a week and has cut transport time between Peru and China from over a month to approximately 23 days, as well as reducing maritime transport costs by at least 20%. In February Andina reported that Peru’s exports to China, its leading export destination, were worth US$25.2bn in 2024, accounting for 34% of total exports.