Argentina - Peru Trade 2024 Q3: Dominant $543M Surplus

Key Market Takeaways: Argentina - Peru Trade

The bilateral trade relationship between Argentina and Peru shows Argentina as a dominant net exporter with resilient demand for its goods in Q3 2024.

• Economic Pulse: Argentina holds a $543.49M trade surplus with Peru, exporting $600.32M (up YoY) while importing just $56.83M. Volatility in Peru’s import appetite suggests uneven industrial demand.
• Exchange Structure: Argentina - Peru trade statistics reveal a resource-for-resource complementarity: cereals (41.9% of exports) flow to Peru for food security, while Argentina imports raw industrial inputs like minerals (19.3% of imports).
• Strategic Interdependence: High export concentration (top 3 commodities = 81.5%) underscores Argentina’s reliance on Peru as a stable buyer for key agricultural products.

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

Argentina-Peru Trade Trend in Q3 2024

Argentina Export Performance: Shipments to Peru

• Total Volume: $600.32M in Q3 2024.
• Growth Trend & Context:
  • Strong YoY recovery: August (+34.68%) and September (+25.23%) offset July’s -5.71% dip.
  • No specific trade news to explain trends.
• Key Volatility: August saw the highest MoM growth (+10.64%), signaling accelerating demand.

Argentina Import Performance: Sourcing from Peru

• Total Volume: $56.83M in Q3 2024.
• Growth Trend & Context:
  • Mixed YoY performance: September (+0.44%) barely offset steep declines in July (-24.89%) and August (-29.77%).
• Key Volatility: September’s 44.57% MoM surge suggests possible inventory restocking after summer lows.

Argentina - Peru Trade Balance & Market Dynamics

• Net Position: Argentina holds a $543.49M trade surplus with Peru (Exports: $600.32M vs. Imports: $56.83M).
• Relationship Status: Dominant net exporter role, with exports exceeding imports by 10.6x. Demand for Argentine goods appears resilient despite Peru’s weaker import appetite.

Argentina Import Trend from Peru 2024 Q3 (Source: yTrade)**

Argentina Export Trend to Peru 2024 Q3 (Source: yTrade)**

Get Historical Argentina Peru Trade Records

Argentina-Peru Top Trading Products in Q3 2024

Argentina Export Profile: What Does Argentina Sell to Peru

• Top Commodity: Cereals (HS Code 10) dominate exports, accounting for 41.90% of total value.
• Demand Driver: Peru relies on Argentine cereals for food security and industrial processing (e.g., milling, livestock feed).
• Concentration: High—top 3 exports (HS Codes 10, 99, 87) make up 81.54% of total trade, indicating heavy reliance on a few commodities.

Argentina Import Profile: What Does Argentina Buy from Peru

• Top Commodity: Salt, sulfur, and stone (HS Code 25) lead imports, representing 19.28% of total value.
• Dependency Nature: Industrial raw materials (e.g., HS Codes 25, 74, 39) suggest Argentina sources these for construction and manufacturing.

Argentina - Peru Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Argentina exports agricultural goods (cereals) and imports industrial inputs (minerals, metals).
• Value Chain Position: Argentina holds a higher value-add position—exports include processed goods (HS Code 15: fats/oils), while Peru’s exports are primarily unprocessed (ores, raw minerals).

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 widen further in Q4 2024, driven by resilient demand for cereals (HS Code 10) and potential seasonal spikes in industrial raw material imports. The August export surge (+10.64% MoM) signals sustained Peruvian appetite for Argentine agricultural goods, while September’s import rebound (+44.57% MoM) hints at recovering demand for Peruvian minerals. However, exporters should monitor Peru’s economic conditions, as prolonged import weakness could dampen bilateral trade growth.

Strategic Moves

• Lock in Cereal Contracts: Argentine exporters should secure long-term agreements with Peruvian buyers to capitalize on stable demand for food security and livestock feed, mitigating price volatility.
• Diversify Industrial Imports: Argentine manufacturers must reduce reliance on Peruvian raw materials (e.g., HS Code 25) by exploring alternative suppliers in Chile or Bolivia to buffer against supply chain disruptions.
• Expand Processed Exports: Argentina should leverage its value-add advantage by promoting higher-margin goods (e.g., HS Code 15: fats/oils) to Peruvian markets, reducing over-dependence on bulk cereal sales.

Frequently Asked Questions

How did Argentina - Peru trade perform in 2024 Q3?

Argentina exported $600.32M to Peru, showing strong YoY recovery, while imports from Peru totaled $56.83M, with mixed YoY performance.

What are the top exports from Argentina to Peru?

Cereals (HS Code 10) dominate, accounting for 41.90% of exports, followed by other top commodities like HS Codes 99 and 87.

What does Argentina import from Peru?

Salt, sulfur, and stone (HS Code 25) lead imports (19.28% of total), alongside industrial raw materials like metals (HS Code 74) and plastics (HS Code 39).

What is the trade balance between Argentina and Peru?

Argentina holds a $543.49M trade surplus with Peru, with exports exceeding imports by 10.6x, reflecting resilient demand for Argentine goods.