2024 Jun Peru Global Trade Data Summary: China Dominates Exports

Peru 2024 Jun Trade Data Key Takeaways

• Market Trend: Peru trade data shows flatlined exports ($6.03B) and imports ($4.08B) in Jun 2024, maintaining a $1.95B surplus.
• Key Driver: Peru import export data reveals China dominates 39% of exports, with ores/metals (41.4%) driving resource-heavy trade.
• Strategic Risk: Export concentration in raw materials and China dependency heightens volatility risks from US tariff shifts.

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

Peru 2024 Jun Trade Data Trend Overview

• Peru, a major mining and agricultural exporter, saw its June 2024 Peru global trade data reflect a steady state, with total exports holding at $6.03 billion year-on-year against a backdrop of significant external trade policy shifts on the horizon.
• The latest Peru import export data shows imports also flatlined at $4.08 billion YoY, indicating a synchronized pause in both outbound and inbound trade flows during the period.
• This resulted in a substantial trade surplus of $1.95 billion for the month, maintaining a key source of external strength for the economy.
• The stagnation is likely a cautious prelude to the anticipated impact of new US tariffs, which were set to target agricultural goods specifically and create broader trade policy uncertainty [IMF].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Peru 2024 Jun Top Trading Products

Peru Global Trade Core Summary

Peru's exports are heavily resource-driven, with ores, precious metals, and minerals making up over 60% of total exports. Key exports include ores and slag (41.4%), precious stones and metals (16.1%), and mineral fuels (5.7%). Agricultural products like edible fruits, cocoa, and coffee add diversity but remain minor. Imports are dominated by machinery (14.4%), mineral fuels (12.8%), and electrical equipment (9%), reflecting reliance on industrial and energy inputs. The trade structure shows high dependence on raw material exports and imported manufactured goods.

Key takeaways:

• Exports are concentrated in raw materials, posing price volatility risks.
• Imports focus on machinery and fuel, indicating industrial and energy needs.
• Limited export diversification beyond mining and agriculture.

Peru Export-Import Structural Gap

Peru exports raw materials but imports finished goods, highlighting a classic resource-based economy. Ores and metals dominate exports, while machinery, vehicles, and fuel lead imports. This gap suggests low domestic manufacturing capacity and reliance on foreign technology. Overlap in mineral fuels (both exported and imported) may indicate refining or processing trade. Opportunities exist to move up the value chain by developing local processing for metals and agricultural goods. The trade pattern shows Peru as a supplier of raw inputs rather than a producer of advanced goods.

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

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Peru 2024 Jun Top Trading Countries

Peru Global Trade Key Patterns

Peru's exports show high concentration, with Mainland China taking 39% of total exports, followed by the US (10%) and India (6%). The top 3 destinations account for over 55% of exports, indicating limited diversification. Imports also rely heavily on Mainland China (31%) and the US (20%), but the top 3 suppliers make up 57% of imports, showing a similar dependence. Both exports and imports feature strong ties to the Americas (Brazil, Canada, Chile, Argentina) and Asia (China, India, Japan). Key takeaways:

• China dominates both export and import flows.
• US is the second-largest partner for trade in both directions.
• Regional trade with Latin America is significant but secondary to China/US.
• Exports are more concentrated than imports among top partners.

Peru Export–Import Geographic Gap

Peru’s trade structure shows overlapping dependencies, with China, the US, Brazil, Canada, Chile, and India appearing in both export and import top 10 lists. This suggests two-way trade relationships, possibly in processed goods or raw material exchanges. Exports are more China-centric, while imports are slightly more balanced between China and the US. The presence of multiple Latin American partners in both lists highlights regional integration. The gap lies in export concentration versus import diversification, though both flows remain anchored to a few key markets.

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 Jun?

Peru's top exports in June 2024 were ores, slag, and ash (41.35% of exports), followed by natural or cultured pearls and precious metals (16.07%), and mineral fuels/oils (5.73%).

What are the main products Peru imports in 2024 Jun?

Peru primarily imported nuclear reactors and machinery (14.43%), mineral fuels/oils (12.81%), and electrical machinery (8.96%) in June 2024.

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

Mainland China (31.15% of exports), the United States (19.84%), and Brazil (5.62%) were Peru's leading export destinations in June 2024.

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

Mainland China (39.28% of imports), the United States (10.25%), and India (6.14%) were Peru's largest import sources in June 2024.

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

Peru maintained a $1.95 billion trade surplus in June 2024, with exports ($6.03B) exceeding imports ($4.08B) despite flat year-on-year growth in both.