Argentina - Peru Trade 2023 Whole Year: $2.32B Surplus

Key Market Takeaways: Argentina - Peru Trade

The bilateral trade relationship between Argentina and Peru is marked by growth, volatility, and a dominant surplus for Argentina in 2023.

• Economic Pulse: Argentina holds a $2.32B trade surplus with Peru ($2.55B exports vs. $232.34M imports), driven by strong demand for Argentine goods despite mid-year volatility.
• Exchange Structure: Argentina - Peru trade statistics reveal a resource-for-resource complementarity—Argentina supplies cereals (31.46% of exports) while Peru provides copper and fuels (32.78% combined of imports).
• Strategic Interdependence: The partnership hinges on raw material exchange, with Argentina’s agricultural exports and Peru’s mineral fuels forming a low-to-mid value-add trade loop.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Argentina-Peru Trade Trend in Whole Year 2023

Argentina Export Performance: Shipments to Peru

• Total Volume: $2.55B in 2023.
• Growth Trend & Context:
  • Mixed YoY performance: Strong growth in early months (Feb: +57.07%, Dec: +40.02%) but contractions in mid-year (Apr: -22.22%, Oct: -23.53%).
  • Key Volatility: February saw the highest MoM surge (+63.42%), while April had the sharpest drop (-53.94%).

Argentina Import Performance: Sourcing from Peru

• Total Volume: $232.34M in 2023.
• Growth Trend & Context:
  • Predominantly negative YoY trends (10 of 12 months), with steepest declines in July (-54.8%) and December (-38.01%).
  • Key Volatility: May recorded the only YoY growth (+0.59%) and a 41.21% MoM spike, while December was the weakest month (-40.96% MoM).

Argentina - Peru Trade Balance & Market Dynamics

• Net Position: Argentina holds a trade surplus of $2.32B (Exports: $2.55B vs. Imports: $232.34M).
• Relationship Status: Dominant net exporter role, with exports exceeding imports by nearly 11x. Demand for Argentine goods in Peru remains robust despite import volatility.

Argentina Import Trend from Peru 2023 Whole Year (Source: yTrade)**

Argentina Export Trend to Peru 2023 Whole Year (Source: yTrade)**

Get Historical Argentina Peru Trade Records

Argentina-Peru Top Trading Products in Whole Year 2023

Argentina Export Profile: What Does Argentina Sell to Peru

• Top Commodity: Cereals (HS Code 10) dominate exports, accounting for 31.46% of total value.
• Demand Driver: Peru relies on Argentine cereals for food security and industrial processing (e.g., milling, livestock feed).
• Concentration: High—top two categories (HS Codes 10 and 99) combine for 62.37% of exports, indicating heavy reliance on a narrow basket of goods.

Argentina Import Profile: What Does Argentina Buy from Peru

• Top Commodity: Copper and articles (HS Code 74) lead imports at 16.39%, closely followed by mineral fuels (HS Code 25) at the same share.
• Dependency Nature: Raw material dependency—Peru supplies critical industrial inputs (metals, minerals) for Argentina’s manufacturing and energy sectors.

Argentina - Peru Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Argentina exports agricultural products (cereals) in exchange for Peruvian minerals (copper, fuels).
• Value Chain Position: Both countries trade low-to-mid value-add goods. Argentina’s exports (cereals) are bulk commodities, while Peru’s exports (metals, fuels) are raw materials—neither holds a high-value position.

Import Analysis by Product: Peru to Argentina (Source: yTrade)

Export Analysis by Product: Argentina to Peru (Source: yTrade)

Check Detailed Argentina-Peru Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Argentina’s trade surplus with Peru is expected to remain strong in 2024, driven by sustained demand for cereals and agricultural products. However, volatility in monthly export performance signals potential risks from supply chain disruptions or shifts in Peruvian import policies. The complementary resource-for-resource trade model will likely persist, but Argentina must address its over-reliance on a narrow export basket to mitigate vulnerability to price swings. Traders should anticipate moderate growth in bilateral trade, with minerals and fuels continuing to dominate imports from Peru.

Strategic Moves

• Diversify Export Offerings: Argentine exporters should expand beyond cereals (HS Code 10) by promoting secondary commodities like machinery or processed foods to reduce dependency on a single category.
• Lock in Long-Term Contracts: Given Peru’s reliance on Argentine agricultural goods, traders should secure multi-year supply agreements to stabilize revenue and hedge against market fluctuations.
• Optimize Logistics for Volatile Months: With sharp MoM swings (e.g., February’s +63.42% surge vs. April’s -53.94% drop), exporters must streamline shipping schedules and inventory management to capitalize on peak demand periods.

Frequently Asked Questions

How did Argentina - Peru trade perform in 2023 Whole Year?

Argentina exported $2.55B to Peru and imported $232.34M, with mixed growth trends—strong early months but mid-year contractions.

What are the top exports from Argentina to Peru?

Cereals (HS Code 10) dominate, accounting for 31.46% of exports, followed by other key commodities in a narrow basket.

What does Argentina import from Peru?

Copper and articles (HS Code 74) and mineral fuels (HS Code 25) lead imports, each at 16.39% share.

What is the trade balance between Argentina and Peru?

Argentina holds a trade surplus of $2.32B, with exports exceeding imports by nearly 11x.