2024 Sep Peru Global Trade Data Summary: Steady Growth Risks

Peru 2024 Sep Trade Data Key Takeaways

• Market Trend: Peru trade data shows flat YoY growth in Sep 2024, with exports ($6.72B) and imports ($4.57B) holding steady.
• Key Driver: Peru import export data reveals ores (38.5%) and precious metals (17.9%) dominate exports, while China (30.1%) and the U.S. (13.1%) are top buyers.
• Strategic Risk: Heavy reliance on raw material exports and concentrated trade partners exposes Peru to commodity price swings and geopolitical shifts.

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

Peru 2024 Sep Trade Data Trend Overview

• Peru, a major mining and metals exporter, posted flat year-on-year trade performance in its latest Peru global trade data for September 2024.
• The country's September 2024 Peru import export data shows exports held at $6.72 billion, while imports were steady at $4.57 billion, both unchanged from the same period last year.
• This resulted in a trade surplus of $2.15 billion for the month, maintaining a consistent external account position.
• The stability in trade values, absent major policy shifts, likely reflects balanced global commodity demand and steady domestic import needs for capital goods and inputs.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Peru Trade Data

Peru 2024 Sep 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 (38.5%), precious stones/metals (17.9%), and edible fruits/nuts (8.7%)—account for over 65% of total export value. This shows a high reliance on raw materials and minimal processed goods. Imports, however, are more diverse, led by mineral fuels (14.3%), machinery (12.3%), and vehicles (9.8%), reflecting a need for industrial equipment and energy. Key takeaways:

• Resource dependence: Exports are concentrated in mining and agriculture, exposing Peru to commodity price swings.
• Low value-add: Most exports are unprocessed, missing opportunities for higher-margin goods.
• Energy imports: Despite exporting mineral fuels, Peru imports refined petroleum products.

Peru Export-Import Structural Gap

Peru’s trade gap highlights a classic resource-exporting economy: it sells raw materials but buys machinery, vehicles, and fuel. The lack of overlap in top HS codes (except mineral fuels) shows minimal processing trade. For example, ores (26) and copper (74) are exported, but Peru imports machinery (84) and steel (72)—hinting at potential for local metal processing. The import of cereals (10) alongside agricultural exports (08, 09) suggests uneven food production capabilities. To upgrade, Peru could focus on refining metals or adding value to agricultural exports.

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

Check Detailed Peru Trade HS Code Breakdown

Peru 2024 Sep Top Trading Countries

Peru Global Trade Key Patterns

Peru's trade flows show strong concentration in both exports and imports, with Mainland China and the United States as top partners. Exports are heavily focused on China (30.1% share) and the U.S. (13.1%), followed by India (8.6%) and Japan (5.2%). Imports also rely heavily on China (28.3%) and the U.S. (16.6%), with Brazil (9.3%) as a key supplier. Regional trade is notable, with Latin American partners like Brazil, Argentina, and Chile appearing in both lists. Key takeaways:

• High dependence on China and the U.S. for both exports and imports.
• Moderate diversification in exports, with India and Japan as secondary markets.
• Latin America plays a role in both supply chains and export destinations.

Peru Export–Import Geographic Gap

Peru’s export markets are more diversified than its import sources, which rely heavily on China, the U.S., and Brazil. Overlapping partners like China, the U.S., Brazil, and India suggest some processing trade. The structure indicates upstream dependency (few key import sources) and downstream diversification (broader export markets). Imports are more regionally focused (Latin America), while exports reach Asia, North America, and Europe. This gap highlights Peru’s role as a supplier to global markets while depending on a narrower import base.

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 Sep?

Peru's top exports in September 2024 were ores, slag, and ash (38.47% of exports), followed by natural or cultured pearls and precious stones (17.91%), and edible fruit and nuts (8.71%).

What are the main products Peru imports in 2024 Sep?

Peru's primary imports included mineral fuels and oils (14.30%), nuclear reactors and machinery (12.33%), and vehicles (9.80%).

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

The leading export destinations were Mainland China (28.34%), the United States (16.63%), and Brazil (9.25%).

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

Peru's main import sources were Mainland China (30.07%), the United States (13.10%), and India (8.61%).

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

Peru maintained stable trade in September 2024, with exports at $6.72B and imports at $4.57B, resulting in a $2.15B surplus, reflecting steady global demand and domestic import needs.