Perús technological specialization in foreign trade: A comparative analysis with Korea, China, Colombia and Mexico; [Especialización tecnológica en el comercio exterior del Perú: Un análisis comparado con Corea, China, Colombia y México]

Abstract

A country's technological specialization in trade and how this fits into its fabric of economic activities usually sheds light on its capacities and capabilities to create added value and increase sustained productivity. In contrast to what has happened in Korea, China, Colombia and Mexico during the last 30 years, this study demonstrates empirically that Peru has been buying higher quality goods but selling the same low-quality type of goods. To change the technological structure of its foreign trade, Peru must assure that market and investment forces work together under an economic strategy that prioritizes value creation, builds on local strengths, expands capacities and increases national productivity and competitiveness. Some major lines of action to achieve these objectives are reviewed in this article. The economic experience and policies of other countries, such as those analyzed in this paper, should also be taken into consideration.