Peru - Canada Trade 2024 Whole Year: Stable Surplus & Resource Exchange

Key Market Takeaways: Peru - Canada Trade

The bilateral trade relationship between Peru and Canada remains stable in 2024, with no significant YoY growth or decline.

• Peru holds a $2.41B trade surplus, exporting $3.84B to Canada while importing $1.43B, reflecting strong outward trade leverage.
• Peru - Canada trade statistics reveal a resource-for-resource exchange: Peru dominates with precious metals (81.54% of exports), while Canada supplies critical fuels (40.92% of imports).
• Highly complementary economies, with Peru capturing higher value-add in processed goods and Canada providing bulk commodities.

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

Peru-Canada Trade Trend in Whole Year 2024

Peru Export Performance: Shipments to Canada

• Total Volume: $3.84B in 2024.
• Growth Trend & Context: YoY data is flat (0.0% across all months), indicating stable export levels compared to the previous year. No significant policy or external events were reported to influence this trend.
• Key Volatility: October saw the highest MoM surge (+21.57%), while November recorded the sharpest drop (-13.53%).

Peru Import Performance: Sourcing from Canada

• Total Volume: $1.43B in 2024.
• Growth Trend & Context: YoY data remains unchanged (0.0%), reflecting consistent import demand. No news context was provided to explain fluctuations.
• Key Volatility: February had the largest MoM jump (+60.44%), while August marked the lowest monthly value ($78.50M).

Peru - Canada Trade Balance & Market Dynamics

• Net Position: Peru holds a trade surplus of $2.41B (Exports: $3.84B > Imports: $1.43B).
• Relationship Status: Peru is a net exporter to Canada, with exports more than double the import volume, signaling strong outward trade leverage.

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

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

Get Historical Peru Canada Trade Records

Peru-Canada Top Trading Products in Whole Year 2024

Peru Export Profile: What Does Peru Sell to Canada

• Top Commodity: Rank #1 export is HS 71 (Pearls, precious stones, metals) with 81.54% share.
• Demand Driver: Canada likely uses these for industrial processing (e.g., jewelry manufacturing, high-tech components).
• Concentration: Extreme dominance by HS 71 (>80% share), indicating high trade concentration risk.

Peru Import Profile: What Does Peru Buy from Canada

• Top Commodity: Rank #1 import is HS 27 (Mineral fuels, oils) with 40.92% share.
• Dependency Nature: Reflects energy security dependency, as Canada supplies critical fuel inputs.

Peru - Canada Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Peru exports high-value raw materials (precious metals) and imports energy products (fuels).
• Value Chain Position: Peru holds the higher value-add position (HS 71 exports are processed/precious goods), while Canada supplies bulk commodities (fuels, grains).

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

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

Check Detailed Peru-Canada Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Peru’s trade surplus with Canada is expected to hold steady in the near term, supported by sustained demand for precious metals (HS 71) and stable energy imports (HS 27). However, the extreme concentration in exports (81.54% reliance on HS 71) poses a vulnerability if global commodity prices fluctuate. With no significant YoY growth in 2024, traders should anticipate sideways movement unless new trade policies or market shocks disrupt the current equilibrium.

Strategic Moves

• Diversify Export Markets: Reduce overreliance on HS 71 by identifying secondary export opportunities in agriculture or manufacturing, mitigating concentration risk.
• Lock in Fuel Supply Agreements: Secure long-term contracts for Canadian mineral fuels (HS 27) to stabilize energy costs and hedge against potential price volatility.
• Monitor Precious Metal Demand Shifts: Stay ahead of industrial trends in Canada (e.g., tech or jewelry sectors) to adjust export strategies proactively and capitalize on emerging demand spikes.

Frequently Asked Questions

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

Peru's trade with Canada remained stable in 2024, with total exports at $3.84B and imports at $1.43B, both showing 0.0% YoY growth.

What are the top exports from Peru to Canada?

HS 71 (Pearls, precious stones, metals) dominated Peru's exports to Canada, accounting for 81.54% of total shipments.

What does Peru import from Canada?

HS 27 (Mineral fuels, oils) was Peru's top import from Canada, representing 40.92% of total imports, reflecting energy dependency.

What is the trade balance between Peru and Canada?

Peru holds a $2.41B trade surplus with Canada, as exports ($3.84B) more than double imports ($1.43B).