Argentina - Peru Trade 2023 Q4: $611M Surge
Key Market Takeaways: Argentina - Peru Trade
The bilateral trade relationship between Argentina and Peru reflects strong export dominance with volatile growth in Q4 2023.
- Argentina holds a $611M trade surplus, with exports ($657M) dwarfing imports ($46M). December saw a 40% YoY export surge, offsetting earlier declines.
- Argentina - Peru trade statistics show a resource-for-resource exchange: Argentina supplies cereals (39% of exports) while importing Peruvian minerals (e.g., copper) and industrial inputs.
- Complementary but asymmetric: Argentina’s higher-value processed goods (e.g., vehicles) contrast with Peru’s raw material exports, reinforcing Argentina’s net exporter role.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Peru Trade Trend in Q4 2023
Argentina Export Performance: Shipments to Peru
- Total Volume: $657.15M in Q4 2023.
- Growth Trend & Context:
- Strong recovery in December (YoY +40.02%) offset earlier declines (Oct: -23.53% YoY, Nov: -3.27% YoY).
- No specific trade news to explain volatility.
- Key Volatility: November saw a sharp MoM surge (+40.77%), followed by steady growth in December (+16.37%).
Argentina Import Performance: Sourcing from Peru
- Total Volume: $46.09M in Q4 2023.
- Growth Trend & Context:
- Steep YoY declines in October (-24.47%) and December (-38.01%), with a brief rebound in November (+6.39% YoY).
- Key Volatility: December imports collapsed (-40.96% MoM), marking the lowest monthly value ($10.38M).
Argentina - Peru Trade Balance & Market Dynamics
- Net Position: Argentina holds a trade surplus of $611.06M (Exports $657.15M vs. Imports $46.09M).
- Relationship Status: Dominant net exporter role, with exports exceeding imports by 14x. No signs of import dependency.
Argentina Import Trend from Peru 2023 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 18.12M | -19.4% | -24.47% |
| Nov | 17.59M | -2.92% | 6.39% |
| Dec | 10.38M | -40.96% | -38.01% |
| Total | 46.09M | - | - |
Argentina Export Trend to Peru 2023 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 162.42M | -5.86% | -23.53% |
| Nov | 228.64M | 40.77% | -3.27% |
| Dec | 266.08M | 16.37% | 40.02% |
| Total | 657.15M | - | - |
Get Historical Argentina Peru Trade Records
Argentina-Peru Top Trading Products in Q4 2023
Argentina Export Profile: What Does Argentina Sell to Peru
- Top Commodity: Cereals (HS Code 10) dominate exports, accounting for 39.38% of total value.
- Demand Driver: Peru relies on Argentina for staple food supplies, indicating a consumer market dependency.
- Concentration: The top 3 exports (Cereals, Commodities not elsewhere specified, Vehicles) make up 78.17% of total exports, showing high trade concentration.
Argentina Import Profile: What Does Argentina Buy from Peru
- Top Commodity: Salt, sulfur, and stone (HS Code 25) lead imports with a 16.68% share.
- Dependency Nature: Argentina sources raw materials like copper (HS Code 74) and animal feed (HS Code 23) from Peru, reflecting industrial and agricultural input needs.
Argentina - Peru Trade Relationship Dynamics
- The Exchange Model: Resource-for-Resource Complementarity. Argentina exports agricultural goods (Cereals, Vehicles) while importing Peruvian minerals and industrial inputs.
- Value Chain Position: Argentina holds a higher value-add position, exporting processed goods (e.g., Vehicles, HS Code 87) versus Peru’s raw material exports (e.g., Copper, HS Code 74).
Import Analysis by Product: Peru to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 25 | 7.69M | 16.68% |
| 74 | 6.13M | 13.30% |
| 18 | 4.70M | 10.20% |
| 39 | 3.94M | 8.55% |
| 61 | 2.45M | 5.32% |
| 28 | 2.14M | 4.64% |
| 84 | 1.94M | 4.21% |
| 23 | 1.58M | 3.43% |
| 12 | 1.56M | 3.38% |
| 32 | 1.35M | 2.93% |
Export Analysis by Product: Argentina to Peru (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 10 | 258.76M | 39.38% |
| 99 | 176.44M | 26.85% |
| 87 | 78.48M | 11.94% |
| 27 | 69.39M | 10.56% |
| 15 | 30.28M | 4.61% |
| 03 | 11.85M | 1.80% |
| 30 | 5.73M | 0.87% |
| 22 | 3.73M | 0.57% |
| 08 | 3.04M | 0.46% |
| 33 | 2.99M | 0.45% |
Check Detailed Argentina-Peru Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade surplus with Peru is expected to widen in 2024, driven by sustained demand for its cereal exports and limited import dependency. The December rebound in exports (+40.02% YoY) signals resilience, while Peru’s declining imports from Argentina (-38.01% YoY in December) suggest a shift in sourcing priorities. Traders should anticipate volatility in raw material imports (e.g., copper, animal feed) but stable growth in agricultural shipments. The Argentina-Peru trade forecast hinges on maintaining this resource-for-resource complementarity, with Argentina retaining its higher value-add position.
Strategic Moves
- Lock in Cereal Contracts: Exporters must secure long-term agreements with Peruvian buyers to capitalize on staple food demand, mitigating price fluctuations.
- Diversify Mineral Sourcing: Argentine manufacturers should explore alternative suppliers for copper (HS Code 74) to reduce reliance on Peru’s volatile shipments.
- Expand Processed Goods Exports: Leverage Argentina’s competitive edge in vehicles (HS Code 87) by targeting Peru’s growing middle-class consumer market.
Frequently Asked Questions
How did Argentina - Peru trade perform in 2023 Q4?
Argentina exported $657.15M to Peru, showing strong recovery in December (+40.02% YoY), while imports from Peru fell to $46.09M, with steep declines in October and December.
What are the top exports from Argentina to Peru?
The top exports are Cereals (HS Code 10), Commodities not elsewhere specified, and Vehicles (HS Code 87), which together make up 78.17% of total exports.
What does Argentina import from Peru?
Argentina primarily imports Salt, sulfur, and stone (HS Code 25), Copper (HS Code 74), and Animal feed (HS Code 23) from Peru.
What is the trade balance between Argentina and Peru?
Argentina holds a trade surplus of $611.06M with Peru, as exports exceed imports by 14x, maintaining a dominant net exporter role.
Argentina - Peru Trade 2023 Q3: Surplus Amid Declines
Argentina's trade surplus with Peru hit $446.34M in Q3 2023, driven by cereals exports, despite declining volumes. Explore Argentina Peru trade trends and top trading products via yTrade data.
Argentina - Peru Trade 2024 Whole Year: $2.24B Surplus
Argentina's trade surplus with Peru hit $2.24B in 2024, driven by cereal exports and ore imports. Explore Argentina Peru trade trends and top trading products via yTrade data.
