Peru - Chile Trade 2024 Q4: Balanced Growth & Resource Exchange

Key Market Takeaways: Peru - Chile Trade

The bilateral trade relationship between Peru and Chile remains stable with balanced growth in Q4 2024.

• Peru holds a $177M trade surplus, exporting $530M to Chile while importing $353M, reflecting steady demand and supply conditions.
• Peru - Chile trade statistics show a resource-for-tech exchange: Peru supplies ores (30.6% of exports) while importing machinery (10.5% of imports).
• Complementary economies—Peru’s raw materials fuel Chile’s industrial base, while Chile’s machinery supports Peru’s infrastructure development.

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

Peru-Chile Trade Trend in Q4 2024

Peru Export Performance: Shipments to Chile

• Total Volume: $529.87M in Q4 2024.
• Growth Trend & Context: YoY growth flat (0.0%), indicating stable demand. No significant policy changes or disruptions noted.
• Key Volatility: November saw the sharpest MoM rise (+11.98%), followed by a modest December uptick (+1.22%).

Peru Import Performance: Sourcing from Chile

• Total Volume: $352.70M in Q4 2024.
• Growth Trend & Context: YoY growth flat (0.0%), reflecting steady supply conditions.
• Key Volatility: December imports surged (+10.66% MoM) after a dip in November (-1.36%).

Peru - Chile Trade Balance & Market Dynamics

• Net Position: Peru holds a trade surplus of $177.17M (Exports $529.87M - Imports $352.70M).
• Relationship Status: Peru maintains a strong net exporter role, with exports outpacing imports by ~50% in Q4.

Peru Import Trend from Chile 2024 Q4 (Source: yTrade)**

Peru Export Trend to Chile 2024 Q4 (Source: yTrade)**

Get Historical Peru Chile Trade Records

Peru-Chile Top Trading Products in Q4 2024

Peru Export Profile: What Does Peru Sell to Chile

• Top Commodity: Rank #1 export is HS Code 26 (Ores, slag, and ash) with a 30.62% share.
• Demand Driver: Chile uses these raw materials for industrial processing, likely in mining or metal production.
• Concentration: Trade is moderately concentrated, with the top commodity accounting for nearly one-third of exports.

Peru Import Profile: What Does Peru Buy from Chile

• Top Commodity: Rank #1 import is HS Code 84 (Nuclear reactors, boilers, machinery) with a 10.54% share.
• Dependency Nature: Imports suggest a critical technology dependency, as machinery is essential for industrial and infrastructure development.

Peru - Chile Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw materials (ores) to Chile, while importing machinery and industrial goods.
• Value Chain Position: Chile holds the higher value-add position, supplying advanced machinery, while Peru primarily provides raw materials.

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

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

Check Detailed Peru-Chile Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Peru’s trade surplus with Chile is expected to hold steady in 2025, supported by stable demand for ores (HS Code 26) and Chile’s reliance on Peruvian raw materials for industrial processing. However, flat YoY growth signals a mature trade phase—volatility in monthly shipments suggests traders should prepare for short-term fluctuations. The resource-for-tech exchange model will likely persist, but Peru must push for higher-value exports to reduce dependency on Chile’s machinery imports (HS Code 84).

Strategic Moves

• Lock in long-term ore contracts: Peruvian exporters should secure multi-year agreements with Chilean buyers to stabilize revenue amid potential price swings in raw materials.
• Diversify machinery suppliers: Reduce reliance on Chilean imports by sourcing industrial equipment from alternative markets (e.g., Brazil or the EU) to mitigate supply chain risks.
• Invest in value-added processing: Upgrade domestic capacity to refine ores before export, capturing more of the supply chain profit and reducing Chile’s value-add advantage.

Frequently Asked Questions

How did Peru - Chile trade perform in 2024 Q4?

Peru's exports to Chile totaled $529.87M, while imports reached $352.70M, with both showing flat YoY growth (0.0%), indicating stable trade conditions.

What are the top exports from Peru to Chile?

The top export from Peru to Chile is HS Code 26 (Ores, slag, and ash), accounting for 30.62% of total exports.

What does Peru import from Chile?

Peru's top import from Chile is HS Code 84 (Nuclear reactors, boilers, machinery), representing 10.54% of total imports.

What is the trade balance between Peru and Chile?

Peru recorded a trade surplus of $177.17M in Q4 2024, with exports outpacing imports by ~50%.