Peru’s forestry sector could add 1.5% to GDP

Peru’s forestry sector can contribute as much as 1.5% more to the country’s GDP, given the sector’s potential for new markets to develop, said Juan Manuel Benites, Minister of Agriculture and Irrigation (Minagri).

The enactment of Forestry and Wildlife law and related regulations will also create new job opportunities and boost the sector’s growth. Export earnings from the forestry and timber sector will increase from the current US$150 million to US$$300 million by 2017 while new investments are expected to reduce dependence on imports of some wood products by as much as 50%.