Peru - Germany Trade 2024 Q3: Stagnant Demand

Key Market Takeaways: Peru - Germany Trade

The bilateral trade relationship between Peru and Germany remained stable but skewed toward dependency in Q3 2024.

• Economic Pulse: Peru recorded a $75.66M trade deficit with Germany, with imports ($315.95M) outpacing exports ($240.29M). Growth was flat YoY, signaling stagnant demand.
• Exchange Structure: Peru - Germany trade statistics reveal a resource-for-tech complementarity—Peru exports coffee (47.85% of shipments) while importing German machinery (26.46%) and vehicles (11.10%).
• Strategic Interdependence: Germany holds the high-value position, supplying advanced manufactured goods, while Peru remains a critical supplier of raw materials.

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

Peru-Germany Trade Trend in Q3 2024

Peru Export Performance: Shipments to Germany

• Total Volume: $240.29M in Q3 2024.
• Growth Trend & Context: YoY growth remained flat (0.0%) across all months, indicating stagnant demand or unchanged trade terms. No notable news to explain the trend.
• Key Volatility: September saw a sharp 73.41% MoM surge in exports, offsetting August’s -9.48% drop.

Peru Import Performance: Sourcing from Germany

• Total Volume: $315.95M in Q3 2024.
• Growth Trend & Context: YoY growth was neutral (0.0%), suggesting stable import reliance. No news to contextualize the data.
• Key Volatility: Imports dipped -7.73% MoM in September after a modest 1.76% rise in August.

Peru - Germany Trade Balance & Market Dynamics

• Net Position: Peru recorded a trade deficit of $75.66M (Imports exceeded exports).
• Relationship Status: Peru remains a net importer of German goods, with imports 31.5% higher than exports in Q3. Trade dynamics appear stable but skewed toward dependency.

Peru Import Trend from Germany 2024 Q3 (Source: yTrade)**

Peru Export Trend to Germany 2024 Q3 (Source: yTrade)**

Get Historical Peru Germany Trade Records

Peru-Germany Top Trading Products in Q3 2024

Peru Export Profile: What Does Peru Sell to Germany

• Top Commodity: Coffee (HS 09) dominates with 47.85% of total exports to Germany.
• Demand Driver: Germany uses these raw materials (coffee, ores, metals) for industrial processing and consumer markets.
• Concentration: High—coffee alone accounts for nearly half of exports, indicating a narrow trade base.

Peru Import Profile: What Does Peru Buy from Germany

• Top Commodity: Machinery (HS 84) leads with 26.46% of imports, followed by vehicles (HS 87) at 11.10%.
• Dependency Nature: Critical technology dependency, as Peru relies on German machinery and precision instruments (HS 90) for industrial and medical applications.

Peru - Germany Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Peru exports raw materials (coffee, ores) while importing high-value machinery and equipment.
• 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)

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

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 muted growth due to stagnant demand and unchanged trade terms. The persistent trade deficit highlights Peru’s reliance on German machinery and technology, while its export base remains narrowly concentrated in coffee and raw materials. However, the sharp MoM volatility in exports suggests potential for opportunistic gains if Peru can capitalize on seasonal demand shifts or secure preferential trade terms. Without diversification or value-added processing, Peru’s position as a net importer will likely persist.

Strategic Moves

• Diversify Export Basket: Peruvian exporters must reduce dependency on coffee by promoting secondary commodities (e.g., metals, agro-processed goods) to German buyers, leveraging trade missions or digital B2B platforms.
• Lock in Tech Supply Chains: Importers should negotiate long-term contracts with German machinery suppliers to mitigate price volatility and ensure steady access to critical industrial equipment.
• Pursue Trade Balance Adjustments: The Peruvian government should incentivize higher-value exports (e.g., processed coffee, textiles) and explore German investment in local manufacturing to reduce the deficit.

Frequently Asked Questions

How did Peru - Germany trade perform in 2024 Q3?

Peru's exports to Germany totaled $240.29M, with flat YoY growth (0.0%), while imports from Germany reached $315.95M, also showing no YoY change.

What are the top exports from Peru to Germany?

Coffee (HS 09) dominates Peru's exports to Germany, accounting for 47.85% of total shipments, followed by ores and metals.

What does Peru import from Germany?

Peru primarily imports machinery (HS 84, 26.46% of imports) and vehicles (HS 87, 11.10%) from Germany, along with precision instruments (HS 90).

What is the trade balance between Peru and Germany?

Peru recorded a trade deficit of $75.66M in Q3 2024, with imports exceeding exports by 31.5%. The gap reflects stable but skewed trade dynamics.