Peru - Brazil Trade 2024 Whole Year: Imbalanced Resource-Tech Exchange

Key Market Takeaways: Peru - Brazil Trade

The bilateral trade relationship between Peru and Brazil remains stable but imbalanced in 2024, with Peru running a significant trade deficit.

• Economic Pulse: Peru posted a $1.83B trade deficit with Brazil ($3.47B imports vs. $1.64B exports), reflecting heavy reliance on Brazilian goods. Trade volumes showed zero YoY growth.
• Exchange Structure: Peru - Brazil trade statistics reveal a resource-for-tech dynamic—Peru exports raw materials (copper, ores) while importing vehicles, machinery, and energy products from Brazil.
• Strategic Interdependence: The relationship is asymmetrical but complementary: Peru supplies Brazil’s industrial base, while Brazil meets Peru’s consumer and manufacturing needs.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Peru-Brazil Trade Trend in Whole Year 2024

Peru Export Performance: Shipments to Brazil

• Total Volume: $1.64B in exports to Brazil for 2024.
• Growth Trend & Context: YoY data is flat (0.0% across all months), indicating no year-over-year change. No relevant trade news to explain trends.
• Key Volatility: December saw the sharpest MoM drop (-36.59%), while September posted the highest MoM gain (+25.06%).

Peru Import Performance: Sourcing from Brazil

• Total Volume: $3.47B in imports from Brazil for 2024.
• Growth Trend & Context: YoY data shows no change (0.0% across all months). No news context to explain fluctuations.
• Key Volatility: April recorded the highest MoM surge (+46.72%), while December had the steepest decline (-26.19%).

Peru - Brazil Trade Balance & Market Dynamics

• Net Position: Peru ran a trade deficit of $1.83B ($3.47B imports - $1.64B exports) with Brazil.
• Relationship Status: Heavy reliance on Brazilian imports, with exports covering less than half of import volumes.

Peru Import Trend from Brazil 2024 Whole Year (Source: yTrade)**

Peru Export Trend to Brazil 2024 Whole Year (Source: yTrade)**

Get Historical Peru Brazil Trade Records

Peru-Brazil Top Trading Products in Whole Year 2024

Peru Export Profile: What Does Peru Sell to Brazil

• Top Commodity: Copper (HS 74) dominates exports to Brazil, accounting for 28.03% of total export value.
• Demand Driver: Brazil uses these raw materials (copper, ores, minerals) for industrial processing, likely in manufacturing and construction sectors.
• Concentration: The top 3 exports (copper, petroleum, ores) make up 57.68% of total exports, indicating moderate concentration in raw materials.

Peru Import Profile: What Does Peru Buy from Brazil

• Top Commodity: Vehicles (HS 87) lead imports from Brazil, representing 22.71% of total import value.
• Dependency Nature: Imports are mixed—vehicles and machinery (HS 84) suggest industrial reliance, while petroleum (HS 27) points to energy needs. Agricultural imports (HS 02, 10) indicate supplementary food demand.

Peru - Brazil Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw materials (copper, ores) to Brazil, while importing higher-value goods like vehicles and machinery.
• Value Chain Position: Brazil holds the higher value-add position, supplying finished goods (vehicles, machinery) versus Peru’s raw material exports. Trade is asymmetrical but mutually beneficial—Peru feeds Brazil’s industrial base, Brazil supplies Peru’s consumer and industrial needs.

Import Analysis by Product: Brazil to Peru (Source: yTrade)

Export Analysis by Product: Peru to Brazil (Source: yTrade)

Check Detailed Peru-Brazil Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Peru’s trade with Brazil is expected to remain stable in the near term, with no significant growth or contraction projected. The flat YoY trend in both exports and imports suggests a mature, balanced exchange, though Peru’s persistent $1.83B trade deficit highlights structural asymmetry. Brazil’s demand for Peruvian raw materials (copper, ores) will likely hold steady, supporting export volumes, while Peru’s reliance on Brazilian vehicles, machinery, and agricultural goods will continue. However, traders should monitor Brazil’s industrial output and commodity prices, as shifts in either could disrupt this equilibrium.

Strategic Moves

• Diversify Export Markets: Peruvian exporters must reduce dependence on Brazil by targeting other industrial hubs (e.g., China, India) for raw materials, mitigating overreliance on a single buyer.
• Negotiate Long-Term Supply Contracts: Lock in stable pricing for copper and ores with Brazilian manufacturers to hedge against commodity volatility and secure predictable revenue streams.
• Boost Value-Added Exports: Peru should invest in downstream processing (e.g., refined copper products) to capture more value in the trade relationship, countering Brazil’s dominance in finished goods.

Frequently Asked Questions

How did Peru - Brazil trade perform in 2024 Whole Year?

Peru exported $1.64B to Brazil and imported $3.47B, with no year-over-year growth (0.0% YoY) in either direction.

What are the top exports from Peru to Brazil?

Peru’s top exports to Brazil are copper (HS 74), petroleum, and ores, which together account for 57.68% of total exports.

What does Peru import from Brazil?

Peru’s top imports from Brazil include vehicles (HS 87), machinery (HS 84), petroleum (HS 27), and agricultural products (HS 02, 10).

What is the trade balance between Peru and Brazil?

Peru recorded a trade deficit of $1.83B with Brazil in 2024, driven by higher imports of vehicles and machinery compared to raw material exports.