2024 Jul Peru Trade Data Summary: Stable Surplus

Peru 2024 Jul Trade Data Key Takeaways

• Market Trend: Peru trade data shows stable exports ($6.71B) and imports ($4.84B), maintaining a $1.87B surplus in Jul 2024.
• Key Driver: Peru import export data reveals China dominates exports (36%) and imports (30%), with ores and fuels leading trade flows.
• Strategic Risk: Over 50% export concentration in raw materials exposes Peru to commodity price volatility.

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

Peru 2024 Jul Trade Data Trend Overview

• Peru's export-driven economy, a key global copper and mineral supplier, demonstrated resilience in July 2024 as reflected in the latest Peru global trade data.
• The month's Peru import export data showed exports holding at $6.71B, flat year-on-year, while imports totaled $4.84B, also unchanged from July 2023.
• This resulted in a trade surplus of $1.87B, maintaining a consistent positive balance.
• The stability in both export and import values suggests a period of equilibrium, likely supported by steady commodity demand and balanced domestic consumption, absent major new trade policy shocks during the period.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Peru 2024 Jul 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 exports—ores (36%), precious stones/metals (17%), and edible fruits/nuts (7%)—show a clear reliance on raw materials. Imports tell a different story, with mineral fuels (19%), machinery (13%), and electrical equipment (8%) leading, reflecting a need for industrial and energy inputs. The export structure is highly concentrated, with the top two categories making up over 50% of total exports, posing a dependence risk. Key takeaways:

• Exports are skewed toward unprocessed or lightly processed resources.
• Imports focus on machinery, fuel, and manufactured goods.
• Limited export diversification increases vulnerability to commodity price swings.

Peru Export-Import Structural Gap

Peru’s trade gap highlights a classic resource-based economy: it exports raw materials (ores, metals, agri-products) and imports higher-value machinery, vehicles, and fuel. There’s minimal overlap in HS codes, with only "mineral fuels" appearing in both lists—likely refined petroleum imports versus crude exports. The lack of finished goods in exports suggests untapped potential for industrial upgrading, particularly in metals processing. The heavy machinery imports signal reliance on foreign technology for production. This structure underscores Peru’s role as a commodity supplier rather than a manufacturing hub.

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

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Peru 2024 Jul Top Trading Countries

Peru Global Trade Key Patterns

Peru's exports show strong concentration in Mainland China (36.05% share, $2.42B) and the United States (12.88%, $863.85M), with the top two destinations accounting for nearly half of total exports. Other key markets include the UAE, Japan, and Canada, but no single country dominates beyond China. Imports also rely heavily on China (30.07%, $1.46B) and the U.S. (20.53%, $993.87M), though sourcing is slightly more diversified with Latin American partners like Argentina, Brazil, and Ecuador playing notable roles.

• Exports: China-dependent, with moderate diversification to North America, Asia, and the Middle East.
• Imports: Dual reliance on China and the U.S., supplemented by regional Latin American suppliers.
• Key asymmetry: Exports are more concentrated than imports, with China’s share exceeding 36% for outbound trade.

Peru Export–Import Geographic Gap

Exports lean heavily on China, while imports show a broader mix of suppliers, including stronger Latin American ties. The U.S. appears in both top lists, suggesting processing trade or bilateral exchange. Export markets are globally scattered (Asia, Americas, Middle East), whereas imports are more regionally anchored (Americas, China). The structure implies upstream diversification in sourcing but downstream reliance on a few major buyers, particularly China. Trade with neighbors like Chile and Colombia is bidirectional but minor.

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 Jul?

Peru's top exports in July 2024 were ores, slag, and ash (36.28% of exports), followed by natural or cultured pearls (16.92%), and edible fruit and nuts (6.66%).

What are the main products Peru imports in 2024 Jul?

Peru's primary imports in July 2024 included mineral fuels and oils (19.03%), nuclear reactors and machinery (13.13%), and electrical machinery (8.12%).

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

The leading export destinations for Peru in July 2024 were Mainland China (30.07%), the United States (20.53%), and Argentina (4.71%).

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

Peru's main import sources in July 2024 were Mainland China (36.05%), the United States (12.88%), and the United Arab Emirates (5.25%).

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

Peru maintained a trade surplus of $1.87B in July 2024, with exports ($6.71B) and imports ($4.84B) remaining stable year-on-year, indicating balanced trade conditions.