Argentina - Peru Trade 2024 Q2: $487M Surplus

Key Market Takeaways: Argentina - Peru Trade

The bilateral trade relationship between Argentina and Peru is marked by Argentina's dominant export role and volatile demand shifts in Q2 2024.

• Economic Pulse: Argentina holds a $487.21M trade surplus, driven by $533.20M in exports (notably cereals) against minimal imports ($45.99M), which collapsed YoY (-47.47% in May).
• Exchange Structure: Argentina - Peru trade statistics reveal a resource-for-resource complementarity: Argentina supplies agricultural goods (37.21% cereals), while Peru provides raw industrial inputs like copper (22.16% of imports).
• Strategic Interdependence: Asymmetrical but mutually beneficial—Argentina leverages processed agro-exports (e.g., fats/oils), while Peru secures food staples and Argentina sources minerals.

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

Argentina-Peru Trade Trend in Q2 2024

Argentina Export Performance: Shipments to Peru

• Total Volume: $533.20M in Q2 2024.
• Growth Trend & Context: Mixed YoY performance—April saw a 24.91% increase, but May dropped sharply (-32.14%), followed by a 9.57% rebound in June. No clear trend, suggesting volatile demand or pricing shifts.
• Key Volatility: May’s 8.51% MoM surge contrasts with June’s -9.26% decline, indicating month-to-month instability.

Argentina Import Performance: Sourcing from Peru

• Total Volume: $45.99M in Q2 2024.
• Growth Trend & Context: Steep YoY declines—May (-47.47%) and June (-46.6%)—signal a structural pullback in Argentine demand for Peruvian goods. April’s 12.41% YoY rise was an outlier.
• Key Volatility: April’s 8.14% MoM jump preceded a -34.01% crash in May, reflecting abrupt demand contraction.

Argentina - Peru Trade Balance & Market Dynamics

• Net Position: Argentina holds a trade surplus of $487.21M (Exports: $533.20M vs. Imports: $45.99M).
• Relationship Status: Dominant exporter role, with Peru accounting for minimal import reliance. The surplus widened sharply due to Argentina’s export scale and collapsing imports.

Argentina Import Trend from Peru 2024 Q2 (Source: yTrade)**

Argentina Export Trend to Peru 2024 Q2 (Source: yTrade)**

Get Historical Argentina Peru Trade Records

Argentina-Peru Top Trading Products in Q2 2024

Argentina Export Profile: What Does Argentina Sell to Peru

• Top Commodity: Cereals (HS Code 10) dominate exports, accounting for 37.21% of total value.
• Demand Driver: Peru relies on Argentine cereals for food security and industrial processing (e.g., milling, livestock feed).
• Concentration: The top 3 exports (HS Codes 10, 99, 87) make up 75.34% of trade, indicating high reliance on a few key commodities.

Argentina Import Profile: What Does Argentina Buy from Peru

• Top Commodity: Copper and articles (HS Code 74) lead imports, representing 22.16% of total value.
• Dependency Nature: Argentina imports raw materials (copper, ores) from Peru for industrial production, reflecting a resource dependency.

Argentina - Peru Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Argentina exports agricultural goods (cereals) to Peru, while importing Peruvian minerals (copper) and ores.
• Value Chain Position: Argentina holds higher value-add in processed agricultural exports (HS Code 15: fats/oils at 10.33%), while Peru supplies raw industrial inputs (HS Code 74, 25). Trade is asymmetrical but mutually beneficial.

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 for Argentina-Peru Trade

The Argentina-Peru trade relationship is likely to remain volatile in the near term, with Argentina’s export dominance facing demand fluctuations from Peru. While cereals (HS Code 10) will continue driving Argentina’s exports, the sharp YoY declines in imports from Peru suggest a prolonged contraction in Argentine demand for Peruvian minerals. Traders should anticipate asymmetrical growth—steady cereal exports offset by weak mineral imports—with potential price instability in key commodities. The trade surplus may widen further if Peru’s industrial demand for Argentine agricultural products holds firm.

Strategic Moves for Traders & Exporters

• Lock in Cereal Supply Contracts: Argentine exporters should secure long-term agreements with Peruvian buyers to stabilize revenue amid volatile monthly demand shifts.
• Diversify Import Sources: Argentine importers reliant on Peruvian copper (HS Code 74) must explore alternative suppliers to mitigate supply chain risks from Peru’s declining export volumes.
• Monitor Logistics Costs: With high export concentration in bulk agricultural goods, Argentine traders must optimize shipping routes to offset potential freight rate spikes.

Frequently Asked Questions

How did Argentina - Peru trade perform in 2024 Q2?

Argentina exported $533.20M to Peru but saw mixed YoY growth, while imports from Peru dropped sharply to $45.99M, reflecting volatile demand and structural pullback.

What are the top exports from Argentina to Peru?

Cereals (HS Code 10) dominate, accounting for 37.21% of exports, followed by fats/oils (HS Code 15) and vehicles (HS Code 87), making up 75.34% of total trade.

What does Argentina import from Peru?

Copper and articles (HS Code 74) lead imports at 22.16%, with Peru supplying raw materials like ores for Argentina’s industrial production.

What is the trade balance between Argentina and Peru?

Argentina holds a $487.21M surplus (exports $533.20M vs. imports $45.99M), widening due to strong cereal exports and collapsing Peruvian imports.