Peru - Japan Trade 2024 Whole Year: $2.24B Surplus

Key Market Takeaways: Peru - Japan Trade

The bilateral trade relationship between Peru and Japan shows strong growth with notable volatility in 2024.

• Peru holds a $2.24B trade surplus, exporting $3.38B (primarily ores and fuels) while importing $1.14B (dominated by vehicles and machinery).
• Peru - Japan trade statistics reveal a resource-for-tech exchange: Peru supplies raw materials (59% ores, 28% fuels), while Japan delivers high-value industrial goods (32% vehicles, 23% machinery).
• Highly complementary economies: Japan’s industrial demand anchors Peru’s commodity exports, creating a stable but uneven value chain.

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

Peru-Japan Trade Trend in Whole Year 2024

Peru Export Performance: Shipments to Japan

• Total Volume: $3.38B in 2024.
• Growth Trend & Context: YoY data unavailable (all entries show 0.0%), limiting trend analysis. No relevant trade news to contextualize shifts.
• Key Volatility: September saw a 105.71% MoM surge, while August and October recorded sharp drops (-47.0% and -41.93%, respectively).

Peru Import Performance: Sourcing from Japan

• Total Volume: $1.14B in 2024.
• Growth Trend & Context: YoY data flat (0.0% across months). No news to explain fluctuations.
• Key Volatility: April imports spiked 57.51% MoM, followed by a -25.34% drop in June.

Peru - Japan Trade Balance & Market Dynamics

• Net Position: Peru holds a $2.24B trade surplus with Japan (Exports $3.38B vs. Imports $1.14B).
• Relationship Status: Strong net exporter role, with exports nearly triple imports. Volatility in both flows suggests uneven shipment timing or demand shifts.

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

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

Get Historical Peru Japan Trade Records

Peru-Japan Top Trading Products in Whole Year 2024

Peru Export Profile: What Does Peru Sell to Japan

• Top Commodity: Rank #1 export is Ores, slag, and ash (HS 26) at 59.48% of total exports to Japan.
• Demand Driver: Japan uses these raw materials for industrial processing, likely in metals production.
• Concentration: Trade is highly concentrated, with HS 26 and Mineral fuels (HS 27) together accounting for 87.89% of exports.

Peru Import Profile: What Does Peru Buy from Japan

• Top Commodity: Rank #1 import is Vehicles (HS 87) at 31.85% of total imports from Japan.
• Dependency Nature: Critical technology dependency, with Machinery (HS 84) and Rubber (HS 40) also major imports, suggesting industrial and automotive sector reliance.

Peru - Japan Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw materials (ores, fuels) and imports high-value manufactured goods (vehicles, machinery).
• Value Chain Position: Japan holds the higher value-add position, supplying advanced industrial goods, while Peru provides commodities.

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

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

Check Detailed Peru-Japan Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Peru’s trade surplus with Japan is expected to remain robust in 2025, driven by sustained Japanese demand for raw materials like ores and mineral fuels. However, the extreme monthly volatility in shipments signals potential supply chain disruptions or pricing fluctuations, requiring proactive risk management. The complementary "resource-for-tech" dynamic will likely persist, but Peru must address over-reliance on commodity exports to avoid vulnerability to global price swings. Traders should monitor Japan’s industrial policies and energy transition plans, which could alter import demand.

Strategic Moves

• Lock in Long-Term Contracts: Peruvian exporters of ores (HS 26) and fuels (HS 27) should secure multi-year agreements with Japanese buyers to stabilize revenue and mitigate price volatility.
• Diversify Export Basket: Peru must reduce concentration risk by expanding into higher-value processed minerals or agricultural exports, leveraging Japan’s appetite for premium food products.
• Boost Local Tech Capacity: Importers of Japanese vehicles (HS 87) and machinery (HS 84) should negotiate technology transfer clauses to strengthen Peru’s domestic manufacturing capabilities and reduce dependency.

Frequently Asked Questions

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

Peru exported $3.38B to Japan and imported $1.14B, with no YoY growth data available. Trade showed volatility, with sharp monthly fluctuations in both exports and imports.

What are the top exports from Peru to Japan?

Peru’s top exports to Japan are Ores, slag, and ash (HS 26) and Mineral fuels (HS 27), together accounting for 87.89% of total exports.

What does Peru import from Japan?

Peru’s top imports from Japan include Vehicles (HS 87), Machinery (HS 84), and Rubber (HS 40), reflecting a reliance on industrial and automotive goods.

What is the trade balance between Peru and Japan?

Peru holds a $2.24B trade surplus with Japan, as exports ($3.38B) nearly triple imports ($1.14B). The gap remains significant but lacks YoY trend data.