2024 Apr Peru Global Trade Data Summary: Flatlined Exports

Peru 2024 Apr Trade Data Key Takeaways

• Market Trend: Peru trade data shows flatlined exports ($4.99B) and imports ($4.55B) in April 2024 amid global tariff uncertainty.
• Key Driver: Peru import export data reveals 70% export value tied to ores, metals, and fuels (HS 26/71/27), with China taking 31.2% share.
• Strategic Risk: Heavy commodity dependence and concentrated export markets amplify vulnerability to price shocks and demand swings.

Analysis covers 2024 Apr based on sanitized customs records from the yTrade database.

Peru 2024 Apr Trade Data Trend Overview

• Peru's export-driven economy, heavily reliant on mineral and agricultural shipments, faced a critical test in April 2024 as captured in the latest Peru global trade data, navigating a complex period of global policy shifts.
• The Peru import export data for April shows exports held at $4.99 billion, registering 0.0% year-on-year growth, while imports were valued at $4.55 billion, also flat compared to the same period last year.
• This resulted in a trade surplus of $440 million for the month, a positive but notably stagnant performance compared to historical growth rates.
• The flatlining trade flows reflect the initial impact of significant U.S. trade policy uncertainty and the looming threat of broad tariffs, which began constraining export momentum and business investment decisions in early 2024 [EY Global Tax News].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Peru 2024 Apr Top Trading Products

Peru Global Trade Core Summary

Peru's exports are heavily resource-driven, with ores, precious metals, and mineral fuels making up over 67% of total exports. The top three categories—HS 26 (ores), HS 71 (precious metals), and HS 27 (mineral fuels)—account for nearly 70% of export value, showing high concentration. Smaller shares come from agricultural products like edible fruits (HS 08) and cocoa (HS 18), along with limited manufactured goods like apparel (HS 61). This reliance on raw materials exposes Peru to commodity price swings. Key takeaways:

• Resource dominance: Minerals and metals dominate exports.
• Low diversification: Limited manufacturing or high-value-added exports.
• Price volatility risk: Heavy dependence on raw materials.

Peru Export-Import Structural Gap

Peru imports machinery (HS 84), vehicles (HS 87), and electrical equipment (HS 85)—goods it doesn’t export, highlighting an industrial gap. While it sells raw materials like ores and metals, it buys processed fuels (HS 27) and manufactured goods, indicating limited domestic processing capacity. The overlap in plastics (HS 39) suggests some midstream activity, but the trade gap leans toward resource extraction over advanced manufacturing. This structure points to opportunities in local processing or industrial upgrading to reduce import reliance.

Table: Peru Top Import & Export Product Categories (Source: yTrade)

Check Detailed Peru Trade HS Code Breakdown

Peru 2024 Apr Top Trading Countries

Peru Global Trade Key Patterns

Peru's exports show strong concentration, with Mainland China taking 31.2% ($1.56B) of total shipments. The U.S. (10.6%), Canada (5.8%), and Japan (5.8%) follow, indicating a mix of major developed markets and Asian demand. Imports also rely heavily on China (24.3%, $1.10B) and the U.S. (18.2%, $826M), but sourcing is more diversified across Latin America (Brazil, Argentina, Ecuador) and North America. Key asymmetries:

• Exports lean heavily on China, with the top 3 partners taking nearly half of shipments.
• Imports spread risk wider, with no single supplier above 25%.
• Overlap exists (China, U.S., Brazil, Canada, Japan, India) suggesting some two-way trade.

Peru Export–Import Geographic Gap

Peru depends on a few key buyers for exports but sources imports more broadly. Exports flow mainly to large economies (China, U.S., Japan), while imports come from regional neighbors (Brazil, Argentina) and global suppliers. The overlap in trade partners hints at processing trade, especially with China and the U.S. The structure shows upstream diversification (imports) but downstream reliance on a few export markets. This gap could expose Peru to demand shocks in key buyer countries.

Table: Peru Top Destiantion & Origin Countries (Source: yTrade)

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Frequently Asked Questions

What are the major products exported by Peru in 2024 Apr?

Peru's top exports in April 2024 were ores, slag, and ash (38.58% of exports, $1.92B), followed by natural or cultured pearls and precious stones (20.61%, $1.03B), and mineral fuels/oils (8.03%, $400.34M).

What are the main products Peru imports in 2024 Apr?

Peru's primary imports were mineral fuels/oils (17.01%, $774.25M), nuclear reactors/machinery (12.89%, $586.70M), and vehicles (8.35%, $380.36M).

Which countries are the top destinations for Peru's exports in 2024 Apr?

Peru's largest export markets were Mainland China (24.26%, $1.10B), the United States (18.15%, $826.13M), and Brazil (7.49%, $341.17M).

Which countries supply most of Peru's imports in 2024 Apr?

Mainland China was Peru's top import source (31.23%, $1.56B), followed by the United States (10.61%, $528.96M) and Canada (5.83%, $290.76M).

How balanced are Peru's export and import markets in 2024 Apr?

Peru recorded a $440M trade surplus in April 2024, with flat year-on-year growth in both exports ($4.99B) and imports ($4.55B), reflecting stagnant trade flows amid global policy uncertainty.