Peru - Colombia Trade 2024 Whole Year: Stable Deficit, Copper Dominance

Key Market Takeaways: Peru - Colombia Trade

The bilateral trade relationship between Peru and Colombia remains stable in 2024, with no significant growth or contraction observed.

• Economic Pulse: Peru runs a $556.81M trade deficit with Colombia ($1.49B imports vs. $933.19M exports), reflecting asymmetric but steady flows.
• Exchange Structure: Peru - Colombia trade statistics reveal a resource-for-resource complementarity—Peru exports copper (19.58% share) and imports ores (17.94%) and essential oils (10.25%).
• Strategic Interdependence: Both economies rely on low-to-mid value-add goods, with Peru holding a slight edge in industrial inputs like copper.

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

Peru-Colombia Trade Trend in Whole Year 2024

Peru Export Performance: Shipments to Colombia

• Total Volume: $933.19M 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 growth or contraction observed.
• Key Volatility: May saw the highest MoM surge (+24.92%), while December recorded the sharpest drop (-16.33%).

Peru Import Performance: Sourcing from Colombia

• Total Volume: $1.49B in 2024.
• Growth Trend & Context: YoY data remains unchanged (0.0% for all months), suggesting consistent import demand.
• Key Volatility: October posted an extreme MoM spike (+86.63%), followed by a steep decline in November (-31.06%).

Peru - Colombia Trade Balance & Market Dynamics

• Net Position: Peru ran a trade deficit of $556.81M (Imports $1.49B > Exports $933.19M).
• Relationship Status: Peru is a net importer from Colombia, reflecting reliance on Colombian goods. The deficit is substantial, highlighting an asymmetric trade flow.

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

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

Get Historical Peru Colombia Trade Records

Peru-Colombia Top Trading Products in Whole Year 2024

Peru Export Profile: What Does Peru Sell to Colombia

• Top Commodity: Copper (HS 74) dominates exports, accounting for 19.58% of total value.
• Demand Driver: Colombia likely uses these raw materials (copper, plastics HS 39, textiles HS 60) for industrial processing.
• Concentration: No single category exceeds 50%, but copper’s near-20% share indicates moderate reliance.

Peru Import Profile: What Does Peru Buy from Colombia

• Top Commodity: Ores (HS 26) lead imports with 17.94% share, followed by essential oils (HS 33) at 10.25%.
• Dependency Nature: Ores and energy products (HS 27) suggest raw material dependency, while essential oils point to agro-industrial inputs.

Peru - Colombia Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Peru exports industrial inputs (copper, plastics) and imports raw materials (ores, oils), indicating mutual reliance on primary goods.
• Value Chain Position: Both countries trade low-to-mid value-add products, with Peru holding a slight edge via copper exports.

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

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

Check Detailed Peru-Colombia Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Peru’s trade with Colombia is expected to remain stable in the near term, with no significant growth or contraction projected. The flat YoY trends in both exports and imports suggest a mature, balanced exchange of primary goods. However, the persistent trade deficit of $556.81M signals an opportunity for Peru to rebalance the relationship by boosting high-value exports or diversifying import sources. Given Colombia’s reliance on Peruvian copper and Peru’s dependence on Colombian ores and essential oils, traders should anticipate steady demand but prepare for volatility spikes, particularly around May and October.

Strategic Moves

• Expand Copper Value-Add: Peruvian exporters should prioritize processing copper into higher-value semi-finished goods (e.g., wires, alloys) to capture more margin and reduce reliance on raw material sales.
• Diversify Import Sources: To mitigate the trade deficit, Peruvian buyers must explore alternative suppliers for ores (HS 26) and essential oils (HS 33), targeting markets like Chile or Brazil to reduce over-dependence on Colombia.
• Lock in Long-Term Contracts: Given the volatility in monthly trade flows (e.g., October’s +86.63% import spike), traders should secure fixed-price agreements for critical commodities to stabilize costs and supply chains.

Frequently Asked Questions

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

Peru's trade with Colombia remained stable in 2024, with exports totaling $933.19M and imports at $1.49B, both showing 0.0% YoY growth.

What are the top exports from Peru to Colombia?

Copper (HS 74) dominated Peru's exports to Colombia, accounting for 19.58% of total value, followed by plastics (HS 39) and textiles (HS 60).

What does Peru import from Colombia?

Ores (HS 26) were the top import, making up 17.94% of total value, alongside essential oils (HS 33) at 10.25% and energy products (HS 27).

What is the trade balance between Peru and Colombia?

Peru recorded a trade deficit of $556.81M with Colombia in 2024, driven by higher imports ($1.49B) compared to exports ($933.19M).