2024 Mar Peru Global Trade Data Summary: Stagnant Growth, China Reliance

Peru 2024 Mar Trade Data Key Takeaways

• Market Trend: Peru trade data shows flat YoY growth in March 2024, with exports ($5.54B) and imports ($4.30B) stagnant.
• Key Driver: Peru import export data reveals 67% of exports are ores/metals, with Mainland China absorbing 38% of shipments.
• Strategic Risk: High export concentration in raw materials and reliance on China expose Peru to commodity price volatility.

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

Peru 2024 Mar Trade Data Trend Overview

• As a major commodity exporter, Peru's global trade data for March 2024 reflects a period of stable, albeit flat, year-on-year performance across its key shipments and purchases.
• The Peru import export data shows exports holding at $5.54B and imports at $4.30B, with both flows registering 0.0% growth compared to the same period last year, indicating a pause in the robust expansion seen in prior years.
• This resulted in a solid trade surplus of $1.24B for the month, maintaining a positive balance that underpins the nation's current account.
• The stagnation in growth aligns with broader regional trade policy uncertainty and anticipation of market shifts, as Peru navigated a complex web of international agreements and potential tariff adjustments [U.S. Department of State].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Peru Trade Data

Peru 2024 Mar Top Trading Products

Peru Global Trade Core Summary

Peru's exports are heavily resource-driven, with ores, precious metals, and minerals making up over 67% of total exports. The top export, HS Code 26 (ores, slag, and ash), alone accounts for 44.1% of export value, followed by precious stones and metals (17.4%). Smaller shares come from agricultural products like edible fruits (5.5%) and fish (1.8%). Imports are more diversified, led by mineral fuels (19.3%) and machinery (11.7%), reflecting reliance on energy and industrial equipment. Key takeaways:

• High export concentration in raw materials (ores, metals) poses price volatility risks.
• Limited manufacturing exports, with only 1.5% from apparel and 1.2% from plastics.
• Energy dependency, as fuel is both a top import and export (HS 27).

Peru Export-Import Structural Gap

Peru’s trade shows a clear resource-export vs. machinery-import divide. Exports are dominated by unprocessed ores and metals, while imports focus on machinery, vehicles, and industrial goods. This suggests a reliance on foreign technology to extract and process raw materials. Overlap in HS Code 27 (mineral fuels) hints at some fuel refining capacity, but the gap highlights Peru’s role as a resource supplier rather than a finished-goods producer. Industrial upgrading could reduce import dependence.

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

Check Detailed Peru Trade HS Code Breakdown

Peru 2024 Mar Top Trading Countries

Peru Global Trade Key Patterns

Peru's exports show strong concentration, with Mainland China taking 38% of total exports ($2.11B), followed by the U.S. (9.5%, $524.57M) and the UAE (6.6%, $365.95M). The top three destinations account for over half of exports, indicating limited diversification. Imports are more balanced, with Mainland China (25.5%, $1.10B) and the U.S. (18.3%, $789.10M) as top suppliers, but no single dominant source. Regional trade is notable, with Latin American partners like Argentina, Brazil, and Chile featuring in imports.

Key takeaways:

• Heavy export reliance on Mainland China.
• Imports are more diversified across regions.
• Latin America is a key import source.
• The U.S. is a major partner for both exports and imports.
• Export markets are more concentrated than import sources.

Peru Export–Import Geographic Gap

Exports are heavily skewed toward Mainland China, while imports come from a broader mix, including the U.S. and Latin America. The U.S. appears in both top export and import lists, suggesting two-way trade. Export markets are global but unevenly distributed, whereas imports show regional sourcing from Latin America. The structure implies downstream dependence on China for exports but upstream diversification for imports. Overlap with Brazil and Chile hints at regional supply chain integration.

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

Get Complete Peru Trading Patner Countries Profile

Frequently Asked Questions

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

Peru's top exports in March 2024 were ores, slag, and ash (44.14% of exports), followed by natural or cultured pearls and precious stones (17.41%), and mineral fuels and oils (5.85%).

What are the main products Peru imports in 2024 Mar?

Peru's primary imports in March 2024 included mineral fuels and oils (19.26%), nuclear reactors and machinery (11.68%), and vehicles (9.56%).

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

The leading export destinations for Peru in March 2024 were Mainland China (25.48%), the United States (18.33%), and Argentina (6.17%).

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

Peru's main import sources in March 2024 were Mainland China (38.02%), the United States (9.48%), and the United Arab Emirates (6.61%).

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

Peru maintained a trade surplus of $1.24B in March 2024, with exports at $5.54B and imports at $4.30B, showing stable but flat year-on-year growth.