2025 Peru Gold (HS 7108) Export: Market Collapse

Key Takeaways

Gold, classified under HS Code 7108 (Gold, unwrought or in semi-manufactured forms; powder), exhibited extreme volatility from January to November 2025.

• Market Pulse: Export values collapsed 72% in November 2025, the lowest monthly volume recorded, following a period of high but unstable shipments averaging $2.6 billion monthly.
• Structural Shift: Peru Gold Export reliance on India (31.59% of value) and a handful of high-volume buyers (84.06% of purchases) creates acute concentration risk.
• Product Logic: HS Code 7108 trade data confirms a commodity-driven market, with unwrought gold trading at ~$40,100/kg—price-sensitive and undifferentiated.

This overview covers the period from January to November 2025 and is based on verified customs data from the yTrade database.

Peru Gold (HS Code 7108) Key Metrics Trend

Market Trend Summary

Peru's gold export trend exhibited extreme volatility from January to November 2025, characterized by two distinct phases. The first ten months saw consistently high shipment values averaging $2.6 billion monthly, despite wild swings in both unit prices (ranging from $34,786 to $55,025/kg) and volumes (fluctuating between 35K-86K kg). This period of elevated but unstable performance collapsed abruptly in November, when export value plummeted 72% to just $915 million on a 78% contraction in volume—the lowest monthly weight recorded all year.

Drivers & Industry Context

The volatility aligns with tightening global compliance measures for gold shipments under HS Code 7108. Peru's gold exports—primarily destined for Switzerland, India, and the UAE—faced intensified customs scrutiny and due-diligence requirements throughout 2025 [FreightAmigo]. The November collapse likely reflects shipment delays or rejections amid enhanced anti-money laundering checks, particularly for doré bars and semi-refined gold. Despite price spikes from safe-haven demand, the total hs code 7108 value for 2025 remained constrained by these regulatory headwinds and production disruptions at major Peruvian mines.

Table: Peru Gold Export Trend (Source: yTrade)

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Peru HS Code 7108 Export Breakdown

Market Composition & Top Categories

Peru's HS Code 7108 export market is overwhelmingly dominated by unwrought, non-monetary gold, which accounted for virtually 100% of the total value and weight shipped from January to November 2025. According to yTrade data, this single sub-category represented the entirety of Peru’s export volume in this period. All other sub-codes, including monetary gold, were statistically negligible.

Value Chain & Strategic Insights

The trade structure reflects a classic commodity market, with unwrought gold trading at approximately $40,100 per kilogram. This high but uniform unit price confirms that Peru’s HS Code 7108 breakdown is driven by bulk, price-sensitive trading of raw precious metal, not specialized or branded products. Market dynamics are dictated by global gold prices and refining demand, not product differentiation.

Table: Peru HS Code 7108) Export Breakdown Details (Source: yTrade)

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Peru Gold Destination Countries

Geographic Concentration & Market Risk

Peru's Gold exports from January to November 2025 show extreme reliance on India, which captures 31.59% of the total export value. This concentration in Peru Gold export destinations heightens exposure to single-market risks, such as demand volatility or trade policy changes. Diversifying beyond this dominant partner could mitigate potential supply chain disruptions.

Purchasing Behavior & Demand Segmentation

India's trade pattern reveals a premium intent, with valueRatio at 31.59 far outweighing weightRatio at 15.25, signaling demand for high-value Gold specifications. The elevated frequencyRatio of 50.66 indicates fragmented, high-volume transactions, likely driven by retail or investment flows rather than bulk industrial use. This behavior underscores margin potential over volume scale for Peru's trade partners in Gold.

Table: Peru Gold (HS Code 7108) Top Destination Countries (Source: yTrade)

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Peru Gold Buyer Companies Analysis

Buyer Concentration & Market Structure

According to yTrade data, Peru Gold buyers are overwhelmingly dominated by a core group of long-term, high-volume partners. This segment accounts for 84.06% of the total export value and nearly 90% of all purchase frequency, indicating a market built on stable, contract-based supply chains. These key accounts, including major international refiners and traders, form the absolute anchor of Peru's HS Code 7108 export economy.

Purchasing Behavior & Sales Strategy

This extreme concentration means your sales strategy must prioritize relationship management and contract security with these high-volume repeaters. Losing even one major account would create significant revenue risk, so focus on ensuring supply reliability and negotiating multi-year agreements. For the remaining smaller, infrequent buyers, consider a streamlined digital platform to efficiently manage their spot purchases without diverting resources from your core anchor clients.

Table: Peru Gold (HS Code 7108) Top Buyers List (Source: yTrade)

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Action Plan for Gold Market Operation and Expansion

• Lock in contracts: Secure multi-year agreements with core refiners (90% of purchase frequency) to stabilize revenue against volatile spot prices.
• Diversify buyers: Target secondary markets like Switzerland or the UAE to reduce overexposure to India’s premium but fragmented demand.
• Streamline compliance: Pre-certify shipments to avoid delays under tightening global AML checks, especially for doré bars and semi-refined gold.
• Optimize logistics: Negotiate bulk shipping rates for unwrought gold (100% of volume) to offset margin pressure from uniform pricing.
• Monitor regulatory shifts: Track customs enforcement in key hubs (India, UAE) to preempt disruptions like November 2025’s 78% volume drop.

Take Action Now —— Explore Peru Gold HS Code 7108 Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Peru Gold Export in 2025?

Peru's gold exports in 2025 saw extreme volatility, with a 72% value drop in November due to tightened global compliance measures and shipment delays. Regulatory scrutiny, especially for semi-refined gold, disrupted trade despite earlier price spikes from safe-haven demand.

Q2. Who are the main destination countries of Peru Gold (HS Code 7108) in 2025?

India dominated Peru's gold exports with 31.59% of total value, followed by Switzerland and the UAE. This heavy reliance on India exposes Peru to single-market risks like demand shifts or policy changes.

Q3. Why does the unit price differ across destination countries of Peru Gold Export in 2025?

Unit prices are uniform (~$40,100/kg) because Peru’s exports consist almost entirely of bulk, unwrought gold—a commodity traded at global benchmark rates, not differentiated products.

Q4. What should exporters in Peru focus on in the current Gold export market?

Prioritize securing long-term contracts with high-volume refiners (84% of export value) while streamlining spot sales for smaller buyers. Diversify beyond India to mitigate geographic concentration risks.

Q5. What does this Peru Gold export pattern mean for buyers in partner countries?

Buyers in India and other key markets benefit from stable bulk supply but face potential disruptions if Peru’s regulatory or production challenges persist. Fragmented Indian demand suggests margin opportunities over volume.

Q6. How is Gold typically used in this trade flow?

Peru’s gold exports (HS Code 7108) are almost entirely unwrought, non-monetary gold—raw material for refining into investment bars, jewelry, or industrial applications globally.

Detailed Monthly and Quarterly Report

Peru HS Code 7108 Export Data Snapshot 2025 JAN

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