2024 Dec Peru Trade Data Summary: Commodity Dependence Risk

Peru 2024 Dec Trade Data Key Takeaways

• Market Trend: Peru trade data shows flat exports ($6.66B) and imports ($4.95B) YoY amid U.S. tariff adjustments.
• Key Driver: Ores (35.8% of exports) and China (27.8% share) dominate Peru import export data, reflecting commodity dependence.
• Strategic Risk: Narrow export base (70% in 3 raw material categories) exposes Peru to price volatility and trade shocks.

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

Peru 2024 Dec Trade Data Trend Overview

• Peru, a major mining and agricultural exporter, closed 2024 with its trade dynamics under the shadow of new U.S. tariffs, as reflected in the latest Peru global trade data.
• December's Peru import export data shows exports holding at $6.66 billion, flat year-on-year, while imports were $4.95 billion, also unchanged from the prior year.
• This resulted in a monthly trade surplus of $1.71 billion, continuing a pattern of robust external accounts.
• The flat annual performance, amid strong metal prices, is likely due to exporters adjusting to the new 10% U.S. tariff regime imposed in April 2025, which affected agricultural goods and textiles while sparing key mineral exports [OECD Economic Outlook].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Peru 2024 Dec Top Trading Products

Peru Global Trade Core Summary

Peru's exports are heavily resource-driven, with ores, precious metals, and agricultural products dominating. The top three export categories—ores (35.8%), precious metals (19.3%), and edible fruits (13.5%)—account for nearly 70% of total exports. This highlights a high concentration in raw materials, exposing Peru to commodity price volatility. Imports, however, are more diversified, led by mineral fuels (15.2%), machinery (12.9%), and vehicles (8.4%), reflecting a reliance on industrial and consumer goods. Key takeaways:

• Exports are narrowly focused on raw materials, posing economic risks.
• Imports are dominated by machinery and fuel, indicating industrial dependency.
• Limited high-value manufacturing in exports suggests untapped potential.

Peru Export-Import Structural Gap

Peru’s trade structure shows a clear divide: it exports raw materials (ores, metals, agriculture) but imports finished goods (machinery, vehicles, electronics). The lack of overlap between top export and import categories suggests minimal processing trade. This gap points to an economy reliant on resource extraction rather than value-added production. Opportunities exist to shift toward manufacturing, especially in metals and agriculture, to reduce import dependence. The imbalance underscores Peru’s role as a supplier of raw materials to industrial economies.

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

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Peru 2024 Dec Top Trading Countries

Peru Global Trade Key Patterns

Peru's exports show strong concentration, with Mainland China (27.8%) and the U.S. (18%) dominating nearly half of total shipments. Other key markets—India, Japan, Canada, and Spain—add diversity but remain secondary. Imports also rely heavily on China (31.8%) and the U.S. (18.2%), with Latin American suppliers like Brazil, Argentina, and Colombia playing smaller roles. Regional trade is more visible in imports, while exports skew toward Asia and North America. Key takeaways:

• Top-heavy trade: China and the U.S. lead both exports and imports.
• Export diversification: Secondary markets (India, Japan, Canada) provide some balance.
• Import regionalism: 30% of imports come from Latin America, versus just 7% for exports.

Peru Export–Import Geographic Gap

Exports target a broader mix of advanced economies (U.S., Japan, Switzerland) and emerging markets (China, India), while imports depend heavily on China and regional neighbors. Overlap exists—China, the U.S., Canada, and India appear in both lists—suggesting some processing trade. The structure shows upstream reliance (Latin America for raw materials, China for manufactured goods) paired with downstream export diversification. Trade remains asymmetrical: exports are more globally distributed than imports.

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 Dec?

Peru's top exports in December 2024 were ores, slag, and ash (35.77% of total exports), followed by natural or cultured pearls and precious stones (19.27%), and edible fruits and nuts (13.47%).

What are the main products Peru imports in 2024 Dec?

Peru's primary imports in December 2024 included mineral fuels and oils (15.16%), nuclear reactors and machinery (12.91%), and vehicles (8.39%).

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

The leading export destinations for Peru in December 2024 were Mainland China (31.84%), the United States (18.22%), and Brazil (5.60%).

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

Peru's main import sources in December 2024 were Mainland China (27.76%), the United States (17.95%), and India (7.73%).

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

Peru maintained a trade surplus of $1.71 billion in December 2024, with exports at $6.66 billion and imports at $4.95 billion, reflecting stable trade dynamics despite new U.S. tariffs.