Peru - Argentina Trade 2024 Q1: Deficit & Resource Exchange
Key Market Takeaways: Peru - Argentina Trade
The bilateral trade relationship between Peru and Argentina remains stable but heavily imbalanced in Q1 2024.
- Deficit-Driven Trade: Peru runs a -$786.24M trade deficit, with imports ($829.14M) dwarfing exports ($42.90M). Volatility in monthly flows suggests underlying demand shifts.
- Resource-for-Resource Exchange: Peru - Argentina trade statistics show raw materials (copper, minerals) flow south, while energy (fuel) and agricultural goods dominate northbound shipments.
- Asymmetric Dependence: Argentina holds leverage as Peru’s critical supplier of fuel and agricultural inputs, while Peruvian exports play a marginal role.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Peru-Argentina Trade Trend in Q1 2024
Peru Export Performance: Shipments to Argentina
- Total Volume: $42.90M in Q1 2024.
- Growth Trend & Context: YoY data shows no change (0.0% for all months), indicating stable demand compared to 2023.
- Key Volatility: February saw a 15.78% MoM surge, followed by a sharp -33.06% drop in March.
Peru Import Performance: Sourcing from Argentina
- Total Volume: $829.14M in Q1 2024.
- Growth Trend & Context: YoY data remains flat (0.0%), suggesting consistent import levels year-over-year.
- Key Volatility: February imports fell -12.23% MoM, with a slight 0.91% recovery in March.
Peru - Argentina Trade Balance & Market Dynamics
- Net Position: Peru runs a trade deficit of -$786.24M (Exports $42.90M vs. Imports $829.14M).
- Relationship Status: Heavy reliance on Argentine imports, with exports playing a marginal role.
Peru Import Trend from Argentina 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 300.04M | 0.0% | 0.0% |
| Feb | 263.35M | -12.23% | 0.0% |
| Mar | 265.75M | 0.91% | 0.0% |
| Total | 829.14M | - | - |
Peru Export Trend to Argentina 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 14.63M | 0.0% | 0.0% |
| Feb | 16.93M | 15.78% | 0.0% |
| Mar | 11.34M | -33.06% | 0.0% |
| Total | 42.90M | - | - |
Get Historical Peru Argentina Trade Records
Peru-Argentina Top Trading Products in Q1 2024
Peru Export Profile: What Does Peru Sell to Argentina
- Top Commodity: Rank #1 export is Copper (HS 74) with a 17.00% share.
- Demand Driver: Argentina likely uses these raw materials (copper, plastics, minerals) for industrial processing.
- Concentration: No single category dominates; the top 3 exports (copper, plastics, minerals) collectively account for ~50% of exports.
Peru Import Profile: What Does Peru Buy from Argentina
- Top Commodity: Rank #1 import is Mineral Fuels (HS 27) with a 30.23% share.
- Dependency Nature: Energy security dependency, as Argentina supplies Peru with critical fuel and agricultural commodities (cereals, animal feed).
Peru - Argentina Trade Relationship Dynamics
- The Exchange Model: Resource-for-Resource Complementarity. Peru exports industrial raw materials (copper, minerals) while importing energy (fuel) and agricultural goods from Argentina.
- Value Chain Position: Both countries trade low-to-mid value-add goods, with Peru slightly higher due to copper exports. No high-tech or advanced manufacturing observed.
Import Analysis by Product: Argentina to Peru (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 250.66M | 30.23% |
| 10 | 228.70M | 27.58% |
| 87 | 91.11M | 10.99% |
| 23 | 75.92M | 9.16% |
| 15 | 72.14M | 8.70% |
| 03 | 21.21M | 2.56% |
| 26 | 19.88M | 2.40% |
| 30 | 14.28M | 1.72% |
| 02 | 6.16M | 0.74% |
| 51 | 4.32M | 0.52% |
Export Analysis by Product: Peru to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 7.29M | 17.00% |
| 39 | 7.09M | 16.52% |
| 25 | 7.00M | 16.33% |
| 27 | 3.74M | 8.73% |
| 61 | 2.41M | 5.62% |
| 18 | 1.69M | 3.94% |
| 28 | 1.36M | 3.18% |
| 84 | 1.30M | 3.02% |
| 32 | 1.14M | 2.65% |
| 79 | 981.96K | 2.29% |
Check Detailed Peru-Argentina Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Peru - Argentina Trade
Peru’s trade deficit with Argentina is expected to persist in Q2 2024, driven by stable but lopsided demand for Argentine energy and agricultural goods. The flat YoY growth in both exports and imports suggests no immediate shift in trade dynamics, but the volatility in monthly figures—especially Peru’s copper exports—warrants caution. If global copper prices rise, Peru could marginally narrow the deficit by capitalizing on Argentina’s industrial demand. However, without diversification or new trade incentives, the resource-for-resource exchange will remain Peru’s dominant trade model with Argentina.
Strategic Moves for Peruvian Traders & Policymakers
- Diversify Energy Imports: Reduce reliance on Argentine mineral fuels by exploring alternative suppliers in the region (e.g., Bolivia, Ecuador) or investing in domestic renewable energy infrastructure.
- Lock In Copper Contracts: Secure long-term agreements with Argentine industrial buyers to stabilize export revenue, especially if copper demand rebounds in H2 2024.
- Push for Trade Incentives: Lobby for bilateral agreements that lower tariffs on Peruvian processed minerals or value-added goods, shifting the exchange from raw materials to higher-margin products.
Frequently Asked Questions
How did Peru - Argentina trade perform in 2024 Q1?
Peru's exports to Argentina totaled $42.90M, with stable YoY growth (0.0%), while imports reached $829.14M, also showing no YoY change.
What are the top exports from Peru to Argentina?
Peru's top exports to Argentina include Copper (HS 74), plastics, and minerals, collectively accounting for ~50% of total exports.
What does Peru import from Argentina?
Peru primarily imports Mineral Fuels (HS 27) from Argentina, along with agricultural commodities like cereals and animal feed.
What is the trade balance between Peru and Argentina?
Peru recorded a trade deficit of -$786.24M with Argentina in Q1 2024, driven by heavy reliance on Argentine imports.
2025 Q1 Peru Global Trade Data Summary: Volatile Surge & Drop
Peru's import and export data reveals a 13.45% YoY surge in March but a 14.23% MoM drop in February, with China dominating 33.6% of exports. Insights from yTrade highlight risks in raw material dependency.
Peru - Argentina Trade 2024 Q4: Imbalance Deepens
Peru's trade deficit with Argentina hit $600.83M in Q4 2024, driven by food imports. Explore Peru Argentina trade trends and top trading products on yTrade.
