2024 Q4 Peru Global Trade Data Summary: Resilient Q4 Surplus

Peru 2024 Q4 Trade Data Key Takeaways

• Market Trend: Peru trade data shows flat annual export growth ($6.66B in Dec) despite global headwinds, with a resilient Q4 surplus.
• Key Driver: Peru import export data reveals ores (37.3% of exports) and China (30.4% share) as dominant, highlighting commodity dependence.
• Strategic Risk: High export concentration in raw materials and China/US markets exposes Peru to price volatility and trade policy shifts.

Analysis covers 2024 Q4 based on sanitized customs records from the yTrade database.

Peru 2024 Q4 Trade Data Trend Overview

• Peru's commodity-driven economy, a key global copper and mineral exporter, faced significant external headwinds in Q4 2024, though its Peru global trade data reflects a resilient export engine navigating new U.S. tariffs and supply disruptions.
• The quarter's Peru import export data shows exports finishing at $6.66B in December, flat year-on-year, after a sharp 21.8% monthly surge in November; imports held steady near $4.95B, indicating stable domestic demand despite global uncertainty.
• This performance solidified a substantial quarterly trade surplus, providing a critical buffer for the current account, which institutions like the IMF project will remain in surplus for the full year.
• The flat annual export growth, against a backdrop of potential disruption, underscores how high terms of trade and the partial exemption from U.S. tariffs for Andean producers helped offset headwinds from new trade policies and domestic mining blockades [IMF].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Peru 2024 Q4 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 (37.3%), precious stones/metals (18.5%), and edible fruits/nuts (13.3%)—account for nearly 70% of total export value. This shows a high concentration in raw materials, posing dependence risks if global commodity prices fluctuate. Imports, however, lean toward machinery, vehicles, and fuels, reflecting industrial and energy needs. Key imports include mineral fuels (14.6%), machinery (13.4%), and vehicles (8.8%).

• Actionable Takeaways:
  • Diversify exports beyond raw materials to reduce price volatility risks.
  • Boost value-added processing for ores and agricultural goods.
  • Address energy dependence by investing in alternative fuel sources.

Peru Export-Import Structural Gap

Peru’s trade gap highlights a classic resource-exporting economy: it sells raw materials (ores, metals, crops) but buys finished goods (machinery, vehicles, electronics). The lack of overlap in top HS codes suggests limited industrial upgrading. For example, while Peru exports copper (HS 74), it imports machinery (HS 84) that could process it locally. This gap signals untapped potential in domestic manufacturing. The high import share of fuels (HS 27) also points to energy reliance, a vulnerability for industrial growth. Closing this gap requires targeted investment in processing and energy infrastructure.

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

Check Detailed Peru Trade HS Code Breakdown

Peru 2024 Q4 Top Trading Countries

Peru Global Trade Key Patterns

Peru's exports show strong concentration, with Mainland China (30.4%) and the United States (16.3%) accounting for nearly half of total shipments. Other key markets include India (8.2%), Canada (5.5%), and the Netherlands (4.1%), indicating some diversification across Asia, North America, and Europe. Imports are similarly dominated by Mainland China (31.7%) and the U.S. (17.3%), but rely more on regional suppliers like Brazil (7.1%), Argentina (4.4%), and Colombia (3.2%). Key takeaways:

• Heavy dependence on China and the U.S. for both exports and imports.
• Exports reach diversified advanced economies (Japan, Switzerland, South Korea).
• Imports draw heavily from Latin American neighbors.
• Overlap in top partners (China, U.S., India, Canada, Chile) suggests two-way trade flows.

Peru Export–Import Geographic Gap

Exports target a broader mix of developed and emerging markets, while imports lean heavily on regional suppliers, particularly in South America. The U.S. and China appear in both top lists, indicating processing trade or component exchange. The structure shows upstream dependency on regional inputs (Brazil, Argentina) paired with downstream diversification in exports. Trade ties with Chile and Canada are bidirectional, but most flows are asymmetrical. Peru’s import sources are more geographically clustered than its export destinations.

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 Q4?

Peru's top exports in Q4 2024 were ores, slag, and ash (37.30% of exports), natural or cultured pearls (18.52%), and edible fruit and nuts (13.31%), based on HS code data.

What are the main products Peru imports in 2024 Q4?

Peru primarily imported mineral fuels/oils (14.55%), nuclear reactors/machinery (13.37%), and vehicles (8.76%) in Q4 2024, according to HS code classifications.

Which countries are the top destinations for Peru's exports in 2024 Q4?

Mainland China (31.74%), the United States (17.34%), and Brazil (7.08%) were Peru's leading export markets in Q4 2024, per country trade data.

Which countries supply most of Peru's imports in 2024 Q4?

Mainland China (30.37%), the United States (16.26%), and India (8.20%) were Peru's primary import sources during Q4 2024.

How balanced are Peru's export and import markets in 2024 Q4?

Peru maintained a substantial trade surplus in Q4 2024, with exports reaching $6.66B in December while imports held steady at $4.95B, reflecting resilient external demand.

Detailed Monthly Report

Peru Trade Data Snapshot 2024 OCT

Peru Trade Data Snapshot 2024 NOV

Peru Trade Data Snapshot 2024 DEC