Chile - Peru Trade 2025 Q1: Widening Deficit & Resource-Tech Exchange

Key Market Takeaways: Chile - Peru Trade

The bilateral trade relationship between Chile and Peru reflects a volatile but growing exchange in 2025 Q1, with Chile maintaining a net importer position.

• Economic Pulse: Chile’s trade deficit with Peru widened to $166.91M (imports: $532.44M > exports: $365.53M), driven by stronger import growth despite mixed export performance.
• Exchange Structure: Chile - Peru trade statistics reveal resource-for-tech complementarity—Chile supplies machinery (HS 84, 15.63% of exports) while Peru dominates with ores (HS 26, 35.59% of imports).
• Strategic Interdependence: The partnership hinges on raw material dependency (Peru) and higher-value machinery exports (Chile), though both sides show diversified trade flows.

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

Chile-Peru Trade Trend in Q1 2025

Chile Export Performance: Shipments to Peru

• Total Volume: $365.53M in Q1 2025.
• Growth Trend & Context: YoY growth was mixed, with January up 13.26% but February down 11.7%. March rebounded with a 4.29% increase. No specific trade news explains these fluctuations.
• Key Volatility: February saw a sharp -16.28% MoM drop, while March recovered with a 13.83% MoM rise.

Chile Import Performance: Sourcing from Peru

• Total Volume: $532.44M in Q1 2025.
• Growth Trend & Context: YoY growth was strong in January (+38.94%) but moderated in February (+7.09%) and March (+17.57%). No external events were cited to contextualize the trends.
• Key Volatility: February recorded a -24.8% MoM decline, the sharpest quarterly drop, while March rebounded with 19.46% MoM growth.

Chile - Peru Trade Balance & Market Dynamics

• Net Position: Chile ran a trade deficit of $166.91M (Imports $532.44M > Exports $365.53M).
• Relationship Status: Chile remains a net importer from Peru, reflecting higher reliance on Peruvian goods. The deficit narrowed slightly compared to 2024 Q1 (YoY trends suggest import growth outpaced exports).

Chile Import Trend from Peru 2025 Q1 (Source: yTrade)**

Chile Export Trend to Peru 2025 Q1 (Source: yTrade)**

Get Historical Chile Peru Trade Records

Chile-Peru Top Trading Products in Q1 2025

Chile Export Profile: What Does Chile Sell to Peru

• Top Commodity: HS Code 84 (Machinery/Mechanical Appliances) dominates at 15.63% of exports.
• Demand Driver: Peru likely imports these for industrial and infrastructure development.
• Concentration: No single category exceeds 50%, indicating diversified exports.

Chile Import Profile: What Does Chile Buy from Peru

• Top Commodity: HS Code 26 (Ores, Slag, and Ash) accounts for 35.59% of imports.
• Dependency Nature: Reflects raw material dependency, possibly for Chile’s industrial or energy sectors.

Chile - Peru Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Chile supplies machinery (HS 84) while Peru provides ores (HS 26).
• Value Chain Position: Chile holds higher value-add with machinery exports, while Peru’s exports are raw-material-heavy.

Import Analysis by Product: Peru to Chile (Source: yTrade)

Export Analysis by Product: Chile to Peru (Source: yTrade)

Check Detailed Chile-Peru Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Chile’s trade deficit with Peru is likely to persist in Q2 2025, driven by sustained demand for Peruvian raw materials (HS 26) and moderate growth in Chilean machinery exports (HS 84). The rebound in March suggests resilience, but volatility in monthly trade flows calls for caution. If Peru’s industrial expansion continues, Chile’s machinery exports could gain momentum, narrowing the deficit slightly. However, exporters must prepare for price fluctuations in key commodities like ores, which dominate imports.

Strategic Moves

• Lock in Long-Term Contracts: Chilean importers of Peruvian ores should secure fixed-price agreements to hedge against raw material volatility, while exporters of machinery should target multi-year deals with Peruvian industrial buyers.
• Diversify Export Markets: Reduce reliance on Peru by expanding machinery sales to other Pacific Alliance members, leveraging Chile’s competitive edge in higher-value goods.
• Optimize Logistics for Critical Imports: Given the sharp MoM swings in February and March, importers must streamline supply chains for HS 26 goods, using bonded warehouses or regional hubs to buffer against delivery delays.

Frequently Asked Questions

How did Chile - Peru trade perform in 2025 Q1?

Chile's exports to Peru totaled $365.53M, with mixed YoY growth, while imports from Peru reached $532.44M, showing strong YoY growth in January and moderate increases in February and March.

What are the top exports from Chile to Peru?

The top export from Chile to Peru is HS Code 84 (Machinery/Mechanical Appliances), accounting for 15.63% of total exports.

What does Chile import from Peru?

Chile's top import from Peru is HS Code 26 (Ores, Slag, and Ash), making up 35.59% of total imports.

What is the trade balance between Chile and Peru?

Chile recorded a trade deficit of $166.91M with Peru in Q1 2025, as imports ($532.44M) exceeded exports ($365.53M). The deficit narrowed slightly compared to Q1 2024.