Peru - Ecuador Trade 2024 Whole Year: $570M Deficit

Key Market Takeaways: Peru - Ecuador Trade

The bilateral trade relationship between Peru and Ecuador is marked by volatility and a heavy import reliance in 2024.

• Peru runs a $570M trade deficit with Ecuador, importing $1.62B (mostly energy) while exporting $1.05B (agricultural byproducts).
• Peru - Ecuador trade statistics reveal a resource-for-resource exchange: Peru supplies food industry waste (25% of exports) and depends on Ecuador for 71% of its mineral fuel imports.
• Strategic interdependence is shallow but critical—Peru’s energy security hinges on Ecuador, while Ecuador sources low-value inputs from Peru.

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

Peru-Ecuador Trade Trend in Whole Year 2024

Peru Export Performance: Shipments to Ecuador

• Total Volume: $1.05B in 2024.
• Growth Trend & Context: YoY data unavailable (all entries show 0.0%). No significant news to contextualize trends.
• Key Volatility: Sharpest MoM drop in December (-23.44%), while May saw the highest MoM surge (+28.86%).

Peru Import Performance: Sourcing from Ecuador

• Total Volume: $1.62B in 2024.
• Growth Trend & Context: YoY data unavailable (all entries show 0.0%). No news to explain fluctuations.
• Key Volatility: July recorded the highest MoM spike (+324.59%), while June had the steepest decline (-50.12%).

Peru - Ecuador Trade Balance & Market Dynamics

• Net Position: Peru ran a trade deficit of $570M (Imports $1.62B > Exports $1.05B).
• Relationship Status: Heavy reliance on imports from Ecuador, with volatile monthly trade flows.

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

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

Get Historical Peru Ecuador Trade Records

Peru-Ecuador Top Trading Products in Whole Year 2024

Peru Export Profile: What Does Peru Sell to Ecuador

• Top Commodity: Rank #1 export is HS Code 23 (Residues and waste from the food industries) with a 25.42% share.
• Demand Driver: Ecuador likely uses these for industrial processing, such as animal feed or biofuel production.
• Concentration: No single category dominates (>50% share), but HS Code 23 holds a significant quarter of total exports.

Peru Import Profile: What Does Peru Buy from Ecuador

• Top Commodity: Rank #1 import is HS Code 27 (Mineral fuels, oils, and distillation products) with a 71.18% share.
• Dependency Nature: This reflects energy security dependency, as Ecuador supplies Peru with critical fuel products.

Peru - Ecuador Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Peru exports agricultural byproducts (HS 23) and imports energy (HS 27), indicating a swap of raw materials rather than high-value goods.
• Value Chain Position: Both sides trade low-complexity commodities, with neither holding a clear high-value-add advantage. The exchange is driven by basic supply-demand gaps rather than advanced integration.

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

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

Check Detailed Peru-Ecuador Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Peru’s trade deficit with Ecuador is likely to persist in the near term, driven by its heavy reliance on Ecuadorian mineral fuels (HS 27) and volatile monthly trade flows. The absence of YoY growth data suggests stagnation, but the sharp MoM fluctuations—particularly in energy imports—indicate potential supply chain vulnerabilities. Traders should anticipate continued price and volume instability in key commodities, with Peru’s export of agricultural residues (HS 23) remaining a stable but low-value counterbalance. Without diversification or new trade agreements, the resource-for-resource exchange model will keep both economies exposed to raw material price swings.

Strategic Moves

• Diversify Energy Imports: Peru must reduce dependency on Ecuadorian fuel by securing alternative suppliers or investing in domestic energy infrastructure to mitigate supply shocks.
• Add Value to Exports: Process agricultural residues (HS 23) into higher-margin products like biofuels or animal feed additives before export to capture greater value from Ecuador’s demand.
• Lock In Supply Contracts: Given the extreme MoM volatility in fuel imports, negotiate long-term pricing agreements with Ecuadorian suppliers to stabilize costs and ensure consistent supply.

Frequently Asked Questions

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

Peru exported $1.05B to Ecuador and imported $1.62B, resulting in volatile monthly trade flows with no clear YoY growth trend.

What are the top exports from Peru to Ecuador?

The top export was HS Code 23 (Residues and waste from the food industries), accounting for 25.42% of total exports.

What does Peru import from Ecuador?

The primary import was HS Code 27 (Mineral fuels, oils, and distillation products), making up 71.18% of total imports.

What is the trade balance between Peru and Ecuador?

Peru had a trade deficit of $570M with Ecuador, driven by higher imports of energy products compared to exports of agricultural byproducts.