Peru - India Trade 2024 Whole Year: $3.52B Surplus

Key Market Takeaways: Peru - India Trade

The bilateral trade relationship between Peru and India remains stable in 2024, marked by consistent volumes and a clear surplus for Peru.

• Economic Pulse: Peru holds a $3.52B trade surplus with India ($4.69B exports vs. $1.17B imports), reflecting a 4:1 export dominance. Volatility in monthly flows contrasts with flat YoY growth.
• Exchange Structure: Peru - India trade statistics reveal a resource-for-tech complementarity—Peru supplies precious metals (90% of exports) while India exports vehicles and machinery (22% of imports).
• Strategic Interdependence: The partnership is highly complementary but lopsided, with Peru reliant on a single commodity and India capturing higher value-add.

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

Peru-India Trade Trend in Whole Year 2024

Peru Export Performance: Shipments to India

• Total Volume: $4.69B in 2024.
• Growth Trend & Context: YoY data shows no change (0.0% across all months), indicating stable export levels year-over-year.
• Key Volatility: February saw a 47.84% MoM surge, while March dropped sharply (-77.08%). August rebounded with a 223.24% MoM spike, followed by a -19.92% decline in December.

Peru Import Performance: Sourcing from India

• Total Volume: $1.17B in 2024.
• Growth Trend & Context: YoY remained flat (0.0%), suggesting consistent import demand.
• Key Volatility: April recorded a 36.79% MoM jump, while June and November saw double-digit declines (-10.34% and -13.48%, respectively). December rebounded with a 14.16% MoM increase.

Peru - India Trade Balance & Market Dynamics

• Net Position: Peru holds a trade surplus of $3.52B ($4.69B exports vs. $1.17B imports).
• Relationship Status: Peru is a net exporter to India, with exports dominating the trade flow by a 4:1 margin. No significant policy shifts or disruptions noted.

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

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

Get Historical Peru India Trade Records

Peru-India Top Trading Products in Whole Year 2024

Peru Export Profile: What Does Peru Sell to India

• Top Commodity: Rank #1 export is HS 71 (Pearls, precious stones, metals) at 90.12% of total exports to India.
• Demand Driver: India uses these for industrial processing, likely in jewelry and manufacturing sectors.
• Concentration: Trade is heavily dominated by HS 71, indicating extreme reliance on a single commodity.

Peru Import Profile: What Does Peru Buy from India

• Top Commodity: Rank #1 import is HS 87 (Vehicles, parts) at 22.23% of total imports from India.
• Dependency Nature: Reflects a mix of industrial and consumer needs, with vehicles and machinery likely supporting Peru's infrastructure and manufacturing.

Peru - India Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw materials (precious metals) to India, while importing finished goods (vehicles, machinery) and pharmaceuticals.
• Value Chain Position: India holds the higher value-add position, exporting complex manufactured goods, while Peru supplies raw materials.

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

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

Check Detailed Peru-India Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast for Peru-India Trade

Peru’s trade surplus with India is expected to hold steady in the near term, driven by sustained demand for precious metals (HS 71) in India’s manufacturing and jewelry sectors. However, the extreme reliance on a single export commodity exposes Peru to price volatility and shifts in Indian industrial demand. Meanwhile, imports of Indian vehicles and machinery (HS 87) will likely remain stable, reflecting Peru’s ongoing infrastructure and consumer needs. Without diversification or policy shifts, the current trade imbalance may persist, leaving Peru vulnerable to external shocks.

Strategic Moves for Traders & Policymakers

• Diversify Export Basket: Peru must reduce dependence on HS 71 by promoting secondary exports like agricultural goods (e.g., quinoa, coffee) or minerals (e.g., copper) to India, mitigating risk from commodity price swings.
• Lock in Long-Term Contracts: Indian buyers of Peruvian precious metals should secure fixed-price agreements to hedge against supply chain disruptions and price volatility, especially after erratic monthly swings in 2024.
• Boost High-Value Imports: Peru should prioritize importing advanced Indian machinery and pharmaceuticals to enhance domestic productivity, shifting from a purely resource-driven trade model to a more balanced technological partnership.

Frequently Asked Questions

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

Peru exported $4.69B to India and imported $1.17B, with no year-over-year growth (0.0%) for both exports and imports, indicating stable trade levels.

What are the top exports from Peru to India?

HS 71 (Pearls, precious stones, metals) dominated Peru's exports to India, accounting for 90.12% of total shipments, reflecting heavy reliance on this commodity.

What does Peru import from India?

HS 87 (Vehicles, parts) was Peru's top import from India, making up 22.23% of total imports, highlighting demand for industrial and consumer goods.

What is the trade balance between Peru and India?

Peru holds a trade surplus of $3.52B with India, as exports ($4.69B) far exceed imports ($1.17B), maintaining a 4:1 trade flow advantage.