Argentina - Peru Trade 2024 Q1: Surplus & Volatility
Key Market Takeaways: Argentina - Peru Trade
The bilateral trade relationship between Argentina and Peru shows volatility but maintains a strong surplus in Argentina's favor in Q1 2024.
- Economic Pulse: Argentina holds a $661.82M trade surplus ($714.85M exports vs. $53.03M imports), though exports to Peru fell sharply YoY (-35.87% in Feb).
- Exchange Structure: Argentina - Peru trade statistics reveal resource-for-resource complementarity, with Argentina exporting high-value raw materials (HS Code 99, 10) and importing industrial inputs (HS Code 25) from Peru.
- Strategic Interdependence: The relationship is lopsided—Argentina’s exports dwarf imports, but Peru remains a key supplier of basic industrial inputs.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Peru Trade Trend in Q1 2024
Argentina Export Performance: Shipments to Peru
- Total Volume: $714.85M in Q1 2024.
- Growth Trend & Context: YoY declines dominated (-35.87% in Feb, -15.78% in Mar), signaling weakening demand or competitive shifts. No news to contextualize.
- Key Volatility: February’s -22.14% MoM drop was the sharpest contraction, followed by a 26.11% rebound in March.
Argentina Import Performance: Sourcing from Peru
- Total Volume: $53.03M in Q1 2024.
- Growth Trend & Context: Mixed YoY performance (+17.19% in Jan, -3.6% in Mar), suggesting unstable procurement patterns.
- Key Volatility: January’s 112.12% MoM surge (to $22.03M) marked peak activity, while February halved to $12.21M.
Argentina - Peru Trade Balance & Market Dynamics
- Net Position: Surplus of $661.82M (Exports $714.85M vs. Imports $53.03M).
- Relationship Status: Argentina maintains a dominant net exporter role, with exports 13.5x imports. Demand volatility in Peru warrants monitoring.
Argentina Import Trend from Peru 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 22.03M | 112.12% | 17.19% |
| Feb | 12.21M | -44.57% | 2.83% |
| Mar | 18.79M | 53.89% | -3.6% |
| Total | 53.03M | - | - |
Argentina Export Trend to Peru 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 258.95M | -2.68% | 34.59% |
| Feb | 201.63M | -22.14% | -35.87% |
| Mar | 254.27M | 26.11% | -15.78% |
| Total | 714.85M | - | - |
Get Historical Argentina Peru Trade Records
Argentina-Peru Top Trading Products in Q1 2024
Argentina Export Profile: What Does Argentina Sell to Peru
- Top Commodity: HS Code 99 dominates exports to Peru, accounting for 36.41% of total export value.
- Demand Driver: Peru likely imports these goods for industrial processing, given the high share of raw materials or intermediates in the top export categories.
- Concentration: The top two export categories (HS Code 99 and 10) collectively represent 72.19% of total exports, indicating high trade concentration.
Argentina Import Profile: What Does Argentina Buy from Peru
- Top Commodity: HS Code 25 (Salt, sulfur, earths, stone, plaster, lime, and cement) is the leading import, making up 22.25% of total imports from Peru.
- Dependency Nature: Argentina relies on Peru for basic industrial inputs, suggesting a raw material dependency rather than high-tech or energy security needs.
Argentina - Peru Trade Relationship Dynamics
- The Exchange Model: The trade relationship shows Resource-for-Resource Complementarity, with Argentina exporting high-value raw materials (HS Code 99, 10) and importing industrial inputs (HS Code 25, 74) from Peru.
- Value Chain Position: Argentina holds a higher value-add position, as its top exports (HS Code 99, 10) likely command premium pricing compared to Peru’s commodity-driven exports.
Import Analysis by Product: Peru to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 25 | 11.80M | 22.25% |
| 74 | 7.73M | 14.58% |
| 39 | 7.00M | 13.20% |
| 61 | 5.17M | 9.75% |
| 12 | 2.48M | 4.67% |
| 18 | 2.22M | 4.19% |
| 28 | 1.91M | 3.61% |
| 79 | 1.64M | 3.09% |
| 73 | 1.36M | 2.56% |
| 84 | 1.18M | 2.22% |
Export Analysis by Product: Argentina to Peru (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 260.24M | 36.41% |
| 10 | 255.78M | 35.78% |
| 27 | 64.63M | 9.04% |
| 23 | 50.13M | 7.01% |
| 15 | 35.08M | 4.91% |
| 03 | 22.35M | 3.13% |
| 30 | 4.73M | 0.66% |
| 02 | 3.57M | 0.50% |
| 22 | 3.04M | 0.43% |
| 16 | 2.38M | 0.33% |
Check Detailed Argentina-Peru Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade surplus with Peru is expected to persist in Q2 2024, but export volatility signals emerging risks. The sharp YoY declines in Argentina’s shipments (-35.87% in Feb, -15.78% in Mar) suggest weakening Peruvian demand or competitive pressure, likely from alternative suppliers. However, the rebound in March (+26.11% MoM) indicates residual demand for Argentina’s key exports (HS Code 99, 10). Import volatility from Peru (+17.19% YoY in Jan, -3.6% in Mar) reflects unstable procurement cycles, but Argentina’s raw material dependency on Peruvian inputs (HS Code 25) will sustain trade flows. Traders should brace for price sensitivity and supply chain disruptions.
Strategic Moves
- Diversify Export Markets: Argentina’s overreliance on Peru for 72.19% of exports (HS Code 99, 10) is risky. Exporters must target other Latin American buyers to mitigate demand shocks.
- Lock In Long-Term Contracts for Imports: Peru’s erratic supply of industrial inputs (HS Code 25) calls for fixed-price agreements to stabilize procurement costs.
- Monitor Competitor Pricing: The YoY export declines suggest rival suppliers are undercutting Argentina. Traders should benchmark prices and adjust margins to retain market share.
Frequently Asked Questions
How did Argentina - Peru trade perform in 2024 Q1?
Argentina exported $714.85M to Peru but saw YoY declines (-35.87% in Feb, -15.78% in Mar). Imports from Peru totaled $53.03M, with mixed YoY growth (+17.19% in Jan, -3.6% in Mar).
What are the top exports from Argentina to Peru?
HS Code 99 dominates Argentina’s exports to Peru, accounting for 36.41% of total export value, followed by HS Code 10, together representing 72.19% of exports.
What does Argentina import from Peru?
HS Code 25 (Salt, sulfur, earths, stone, plaster, lime, and cement) is the top import, making up 22.25% of Argentina’s total imports from Peru.
What is the trade balance between Argentina and Peru?
Argentina recorded a surplus of $661.82M in Q1 2024, with exports 13.5x higher than imports, maintaining its dominant net exporter role.
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.
Argentina - Peru Trade 2024 Q2: $487M Surplus
Argentina's $487M trade surplus with Peru in Q2 2024 highlights strong cereal exports and mineral imports. Explore Argentina Peru trade trends and top trading products via yTrade data.
