Argentina - Peru Trade 2023 Q2: Dominant Surplus & Resource Exchange

Key Market Takeaways: Argentina - Peru Trade

The bilateral trade relationship between Argentina and Peru reflects growth with notable volatility in Q2 2023.

• Argentina holds a dominant trade surplus of $506M, with exports ($573M) outpacing imports ($67M) by 8.6x, though monthly swings show erratic demand.
• Argentina-Peru trade statistics reveal a resource-for-resource exchange: Cereals (31.6% of exports) flow to Peru for food security, while Argentina imports Peruvian copper (19.2%) for industrial needs.
• Complementary but low-value trade: Both economies exchange raw materials, with Argentina slightly ahead in processed agri-goods (e.g., fats/oils).

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

Argentina-Peru Trade Trend in Q2 2023

Argentina Export Performance: Shipments to Peru

• Total Volume: $572.88M in Q2 2023.
• Growth Trend & Context:
  • Mixed YoY performance: May saw a 27.47% surge, but April (-22.22%) and June (-16.78%) contracted.
• Key Volatility: May’s exports spiked 99.72% MoM, while June dropped 43.8%.

Argentina Import Performance: Sourcing from Peru

• Total Volume: $66.56M in Q2 2023.
• Growth Trend & Context:
  • YoY trends were uneven: June grew 6.51%, but April fell 22.76%.
• Key Volatility: May imports jumped 41.21% MoM, then dropped 10.08% in June.

Argentina - Peru Trade Balance & Market Dynamics

• Net Position: Argentina holds a trade surplus of $506.32M (Exports: $572.88M > Imports: $66.56M).
• Relationship Status: Dominant net exporter, with exports dwarfing imports by nearly 8.6x.

Argentina Import Trend from Peru 2023 Q2 (Source: yTrade)**

Argentina Export Trend to Peru 2023 Q2 (Source: yTrade)**

Get Historical Argentina Peru Trade Records

Argentina-Peru Top Trading Products in Q2 2023

Argentina Export Profile: What Does Argentina Sell to Peru

• Top Commodity: Cereals (HS Code 10) dominate exports, accounting for 31.64% of total value.
• Demand Driver: Peru relies on Argentine cereals for food security and industrial processing (e.g., animal feed, milling).
• Concentration: The top 3 exports (HS Codes 10, 99, 15) make up 69.12% of trade, indicating high reliance on agricultural and unspecified goods (likely re-exports or services under HS 99).

Argentina Import Profile: What Does Argentina Buy from Peru

• Top Commodity: Copper and articles (HS Code 74) lead imports with a 19.24% share.
• Dependency Nature: Argentina sources raw materials (copper, ores) from Peru for industrial production, reflecting mineral dependency.

Argentina - Peru Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Argentina exports agricultural products (cereals, fats) while importing Peruvian minerals (copper, ores) and food items (cocoa, fruits).
• Value Chain Position: Both countries trade low-value-added goods, but Argentina holds a slight edge with processed agricultural exports (HS 15: fats/oils) versus Peru’s raw mineral focus.

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 hold steady in Q3 2023, driven by sustained demand for cereals (HS 10) and processed fats (HS 15). However, volatility in monthly export volumes—particularly the sharp June contraction—signals potential supply chain disruptions or pricing pressures. Peru’s reliance on Argentine agri-exports and Argentina’s need for Peruvian minerals (HS 74) will reinforce the resource-for-resource complementarity, but traders should brace for short-term fluctuations due to seasonal harvest cycles and global commodity price swings.

Strategic Moves

• Lock in Cereal Contracts: With cereals dominating exports (31.64% share), Argentine exporters should secure forward contracts with Peruvian buyers to stabilize revenue amid price volatility.
• Diversify Mineral Imports: Argentina’s 19.24% dependence on Peruvian copper (HS 74) exposes it to supply shocks. Importers must scout alternative suppliers in Chile or Bolivia to mitigate risk.
• Expand Processed Agri-Exports: Argentina should capitalize on its trade surplus by pushing higher-margin processed goods (e.g., refined oils under HS 15) into Peru’s food manufacturing sector, reducing reliance on bulk cereal sales.

Frequently Asked Questions

How did Argentina - Peru trade perform in 2023 Q2?

Argentina exported $572.88M to Peru in Q2 2023, with mixed YoY growth (May +27.47%, April -22.22%). Imports from Peru totaled $66.56M, showing uneven trends (June +6.51%, April -22.76%).

What are the top exports from Argentina to Peru?

Argentina’s top exports to Peru are cereals (HS Code 10), followed by unspecified goods (HS 99) and fats/oils (HS 15), accounting for 69.12% of total trade.

What does Argentina import from Peru?

Argentina primarily imports copper and articles (HS Code 74) from Peru, making up 19.24% of imports, along with raw materials like ores and food items (cocoa, fruits).

What is the trade balance between Argentina and Peru?

Argentina holds a trade surplus of $506.32M with Peru in Q2 2023, with exports nearly 8.6x higher than imports, reinforcing its dominant net exporter position.