Peru - Germany Trade 2024 Whole Year: Stable but Unbalanced
Key Market Takeaways: Peru - Germany Trade
The bilateral trade relationship between Peru and Germany remains stable but unbalanced in 2024, with no year-over-year growth shifts.
- Economic Pulse: Peru runs a $263.6M trade deficit with Germany ($1.20B imports vs. $936.40M exports), reflecting consistent but one-sided demand.
- Exchange Structure: Peru - Germany trade statistics reveal a resource-for-tech dynamic—Peru supplies ores (47% of exports) while importing German machinery (27% of imports).
- Strategic Interdependence: The partnership is highly complementary, with Peru locked into a primary supplier role and Germany dominating high-value manufacturing.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Peru-Germany Trade Trend in Whole Year 2024
Peru Export Performance: Shipments to Germany
- Total Volume: $936.40M in exports to Germany in 2024.
- Growth Trend & Context: YoY data is flat (0.0% across all months), indicating stable export levels compared to the previous year.
- Key Volatility: February saw a 98.8% MoM surge, while March recorded a sharp -76.21% drop. May rebounded with a 246.37% MoM increase.
Peru Import Performance: Sourcing from Germany
- Total Volume: $1.20B in imports from Germany in 2024.
- Growth Trend & Context: YoY data remains unchanged (0.0%), suggesting consistent import demand.
- Key Volatility: February had a -25.56% MoM decline, while October posted an 18.74% MoM rise.
Peru - Germany Trade Balance & Market Dynamics
- Net Position: Peru ran a trade deficit of $263.6M ($1.20B imports - $936.40M exports) with Germany.
- Relationship Status: Peru is a net importer, relying more on German goods than vice versa. Trade volumes show no YoY shifts, reflecting stable but unbalanced ties.
Peru Import Trend from Germany 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 99.58M | 0.0% | 0.0% |
| Feb | 74.12M | -25.56% | 0.0% |
| Mar | 96.12M | 29.67% | 0.0% |
| Apr | 105.22M | 9.47% | 0.0% |
| May | 86.80M | -17.51% | 0.0% |
| Jun | 95.08M | 9.55% | 0.0% |
| Jul | 106.87M | 12.39% | 0.0% |
| Aug | 108.75M | 1.76% | 0.0% |
| Sep | 100.34M | -7.73% | 0.0% |
| Oct | 119.14M | 18.74% | 0.0% |
| Nov | 99.06M | -16.85% | 0.0% |
| Dec | 109.09M | 10.12% | 0.0% |
| Total | 1.20B | - | - |
Peru Export Trend to Germany 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 70.93M | 0.0% | 0.0% |
| Feb | 141.01M | 98.8% | 0.0% |
| Mar | 33.55M | -76.21% | 0.0% |
| Apr | 27.71M | -17.41% | 0.0% |
| May | 95.98M | 246.37% | 0.0% |
| Jun | 56.60M | -41.04% | 0.0% |
| Jul | 69.15M | 22.19% | 0.0% |
| Aug | 62.59M | -9.48% | 0.0% |
| Sep | 108.54M | 73.41% | 0.0% |
| Oct | 90.96M | -16.2% | 0.0% |
| Nov | 89.66M | -1.42% | 0.0% |
| Dec | 89.71M | 0.06% | 0.0% |
| Total | 936.40M | - | - |
Get Historical Peru Germany Trade Records
Peru-Germany Top Trading Products in Whole Year 2024
Peru Export Profile: What Does Peru Sell to Germany
- Top Commodity: Rank #1 export is HS 26 (Ores, slag, and ash) at 47.33% of total exports to Germany.
- Demand Driver: Germany uses these raw materials for industrial processing, likely in metal production or manufacturing.
- Concentration: Trade is highly concentrated, with HS 26 alone accounting for nearly half of exports.
Peru Import Profile: What Does Peru Buy from Germany
- Top Commodity: Rank #1 import is HS 84 (Nuclear reactors, boilers, machinery) at 27.16% of total imports from Germany.
- Dependency Nature: Reflects critical technology dependency, as Peru relies on German machinery for industrial or infrastructure development.
Peru - Germany Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw materials (ores, agricultural products) and imports high-value machinery and pharmaceuticals from Germany.
- Value Chain Position: Germany holds the higher value-add position, supplying advanced manufactured goods, while Peru provides primary commodities.
Import Analysis by Product: Germany to Peru (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 325.91M | 27.16% |
| 87 | 131.95M | 10.99% |
| 30 | 116.81M | 9.73% |
| 90 | 100.29M | 8.36% |
| 85 | 78.01M | 6.50% |
| 38 | 56.37M | 4.70% |
| 39 | 37.18M | 3.10% |
| 73 | 25.60M | 2.13% |
| 28 | 22.99M | 1.92% |
| 32 | 21.24M | 1.77% |
Export Analysis by Product: Peru to Germany (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 443.23M | 47.33% |
| 09 | 219.61M | 23.45% |
| 79 | 46.54M | 4.97% |
| 18 | 35.47M | 3.79% |
| 61 | 34.60M | 3.69% |
| 80 | 25.49M | 2.72% |
| 08 | 20.95M | 2.24% |
| 20 | 20.87M | 2.23% |
| 07 | 14.15M | 1.51% |
| 32 | 10.51M | 1.12% |
Check Detailed Peru-Germany Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Peru’s trade with Germany is expected to remain stable in the near term, with no significant YoY growth projected based on 2024’s flat performance. However, the extreme monthly volatility in exports—such as the 246% surge in May—suggests potential for short-term price swings in key commodities like ores (HS 26). Germany’s steady demand for raw materials and Peru’s reliance on high-value machinery (HS 84) will likely sustain the current resource-for-tech exchange model. Traders should prepare for periodic supply chain disruptions, given the erratic monthly trade patterns.
Strategic Moves
- Diversify Export Markets: Peru’s overreliance on Germany for machinery imports and concentrated ore exports creates vulnerability. Exporters must explore new buyers in the EU or Asia to mitigate dependency risks.
- Lock in Long-Term Contracts: Given the volatility in ore shipments, Peruvian miners should secure multi-year agreements with German industrial buyers to stabilize revenue streams and reduce exposure to price swings.
- Boost Value-Added Exports: To narrow the trade deficit, Peru should incentivize processing raw materials domestically before export, shifting from low-margin ores to higher-value semi-finished goods.
Frequently Asked Questions
How did Peru - Germany trade perform in 2024 Whole Year?
Peru exported $936.40M to Germany and imported $1.20B, with both exports and imports showing 0.0% YoY growth, indicating stable trade levels.
What are the top exports from Peru to Germany?
The top export from Peru to Germany is HS 26 (Ores, slag, and ash), accounting for 47.33% of total exports.
What does Peru import from Germany?
Peru's top import from Germany is HS 84 (Nuclear reactors, boilers, machinery), making up 27.16% of total imports.
What is the trade balance between Peru and Germany?
Peru recorded a trade deficit of $263.6M with Germany in 2024, reflecting higher imports of German machinery and technology.
Peru Fuel Oil HS2710 Export Data 2025 September Overview
Peru Fuel Oil (HS Code 2710) Export in September 2025 saw Japan dominate with 41.58% volume share, per yTrade data, highlighting bulk trade and U.S. high-grade demand clusters.
Peru - Germany Trade 2024 Q3: Stagnant Demand
Peru Germany trade trend shows stagnant demand in Q3 2024, with a $75.66M deficit. Peru Germany top trading product includes coffee exports and machinery imports. Data via yTrade.
