Argentina - Peru Trade 2024 Q4: $550M Surplus Dominance

Key Market Takeaways: Argentina - Peru Trade

The bilateral trade relationship between Argentina and Peru shows growth with high volatility in Q4 2024.

• Argentina dominates with a $550.94M surplus, exporting $631.56M (mostly cereals) while importing $80.62M (primarily cocoa).
• Trade statistics reveal a resource-for-resource exchange: Argentina supplies processed goods (cereals, vehicles) and imports raw materials (cocoa, metals) from Peru.
• Complementary but lopsided: Argentina’s higher-value exports highlight its stronger position, while Peru’s role remains raw-material focused.

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

Argentina-Peru Trade Trend in Q4 2024

Argentina Export Performance: Shipments to Peru

• Total Volume: $631.56M in Q4 2024.
• Growth Trend & Context:
  • YoY growth was mixed, with October up 29.41% but November and December down -30.79% and -1.11%, respectively.
  • No specific trade news or policy changes were reported to explain these fluctuations.
• Key Volatility: December saw a sharp 66.27% MoM surge, offsetting November’s -24.71% drop.

Argentina Import Performance: Sourcing from Peru

• Total Volume: $80.62M in Q4 2024.
• Growth Trend & Context:
  • YoY growth was volatile, with December spiking 162.99% YoY, while October and November grew 63.51% and 34.64%, respectively.
• Key Volatility: December’s imports rebounded 15.32% MoM after a -20.06% dip in November.

Argentina - Peru Trade Balance & Market Dynamics

• Net Position: Argentina recorded a trade surplus of $550.94M (Exports: $631.56M vs. Imports: $80.62M).
• Relationship Status: Argentina is a dominant net exporter to Peru, with exports nearly 8x the import volume.

Argentina Import Trend from Peru 2024 Q4 (Source: yTrade)**

Argentina Export Trend to Peru 2024 Q4 (Source: yTrade)**

Get Historical Argentina Peru Trade Records

Argentina-Peru Top Trading Products in Q4 2024

Argentina Export Profile: What Does Argentina Sell to Peru

• Top Commodity: Cereals (HS Code 10) dominate exports, accounting for 37.40% 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 76.70% of trade, indicating high reliance on a few key commodities.

Argentina Import Profile: What Does Argentina Buy from Peru

• Top Commodity: Cocoa and cocoa preparations (HS Code 18) lead imports, capturing 27.67% of the total.
• Dependency Nature: Argentina sources agricultural goods (cocoa, ores, edible fruits) from Peru, reflecting food and raw material dependencies.

Argentina - Peru Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Argentina exports cereals and vehicles (HS Codes 10, 87) while importing cocoa and metals (HS Codes 18, 25), indicating a swap of agricultural and industrial raw materials.
• Value Chain Position: Argentina holds a higher value-add position, exporting processed goods (e.g., vehicles) versus Peru’s raw material-heavy exports (cocoa, ores).

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 remain robust in Q1 2025, driven by sustained demand for cereals (HS Code 10) and potential recovery in vehicle exports (HS Code 87). However, volatility in monthly export growth signals the need for caution, as Peru’s import appetite may fluctuate due to domestic food security policies or shifts in industrial demand. The sharp rebound in December imports from Peru suggests rising Argentine demand for cocoa and metals (HS Codes 18, 25), which could deepen the complementary trade dynamic. Traders should monitor Peru’s agricultural and mining output closely, as supply-side disruptions could impact pricing and availability.

Strategic Moves

• Lock in Cereal Contracts: Argentine exporters should secure long-term agreements with Peruvian buyers to stabilize revenue amid volatile monthly shipments, leveraging Peru’s structural reliance on Argentine grains.
• Diversify Import Sources: While Peru remains a key supplier of cocoa and ores, Argentine importers must scout alternative markets (e.g., Ecuador for cocoa, Chile for metals) to mitigate supply chain risks from Peru’s uneven production cycles.
• Capitalize on Niche Vehicles: With Peru’s growing middle class, Argentine automakers should aggressively market competitively priced vehicles (HS Code 87), targeting logistics and urban transport sectors to offset softer commodity export months.

Frequently Asked Questions

How did Argentina - Peru trade perform in 2024 Q4?

Argentina's exports to Peru totaled $631.56M, with mixed YoY growth, while imports from Peru reached $80.62M, showing volatile but strong YoY increases.

What are the top exports from Argentina to Peru?

Cereals (HS Code 10) dominate Argentina's exports to Peru, accounting for 37.40% of total value, followed by other key commodities in the top 3 categories.

What does Argentina import from Peru?

Argentina primarily imports cocoa and cocoa preparations (HS Code 18) from Peru, making up 27.67% of total imports, alongside agricultural goods and raw materials.

What is the trade balance between Argentina and Peru?

Argentina recorded a trade surplus of $550.94M with Peru in Q4 2024, with exports nearly 8x higher than imports.