Peru - Japan Trade 2024 Q2: Stable Surplus & Resource-Tech Exchange

Key Market Takeaways: Peru - Japan Trade

The bilateral trade relationship between Peru and Japan remains stable with a strong surplus for Peru in 2024 Q2.

• Economic Pulse: Peru holds a $593.65M trade surplus with Japan, exporting $917.44M (flat YoY) while importing $323.79M (also flat YoY). Volatility in monthly flows suggests demand timing shifts.
• Exchange Structure: Peru - Japan trade statistics reveal a resource-for-tech model—Peru supplies ores (68% of exports) while Japan dominates with vehicles (25% of imports).
• Strategic Interdependence: Highly complementary economies, with Peru as a raw material supplier and Japan as a high-value manufacturer.

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

Peru-Japan Trade Trend in Q2 2024

Peru Export Performance: Shipments to Japan

• Total Volume: $917.44M in Q2 2024.
• Growth Trend & Context: YoY data shows 0% change, indicating stable export levels compared to 2023. No significant policy shifts or disruptions noted.
• Key Volatility: May saw a 22.44% MoM surge, followed by a sharp -22.35% drop in June, suggesting month-to-month unpredictability.

Peru Import Performance: Sourcing from Japan

• Total Volume: $323.79M in Q2 2024.
• Growth Trend & Context: YoY growth flat at 0%, reflecting steady demand. No external shocks or supply constraints reported.
• Key Volatility: April imports spiked 57.51% MoM before consecutive declines (-12.32% in May, -25.34% in June), pointing to potential front-loaded demand.

Peru - Japan Trade Balance & Market Dynamics

• Net Position: Peru holds a $593.65M trade surplus with Japan (Exports: $917.44M vs. Imports: $323.79M).
• Relationship Status: Strong net exporter role, with exports nearly triple imports. Trade remains unbalanced but favorable for Peru.

Peru Import Trend from Japan 2024 Q2 (Source: yTrade)**

Peru Export Trend to Japan 2024 Q2 (Source: yTrade)**

Get Historical Peru Japan Trade Records

Peru-Japan Top Trading Products in Q2 2024

Peru Export Profile: What Does Peru Sell to Japan

• Top Commodity: Rank #1 export is HS Code 26 (Ores, slag, and ash) at 68.06% of total exports to Japan.
• Demand Driver: Japan uses these raw materials for industrial processing, likely in steel production or electronics manufacturing.
• Concentration: Trade is highly concentrated, with ores alone accounting for over two-thirds of exports.

Peru Import Profile: What Does Peru Buy from Japan

• Top Commodity: Rank #1 import is HS Code 87 (Vehicles) at 24.94% of total imports from Japan.
• Dependency Nature: Reflects a critical technology dependency, as Japan supplies high-value machinery and transport equipment.

Peru - Japan Trade Relationship Dynamics

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

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 for Peru-Japan Trade

Peru’s trade surplus with Japan is expected to remain strong in Q3 2024, driven by steady demand for ores and minerals (HS Code 26) from Japan’s industrial sector. However, the recent month-to-month volatility in exports suggests traders should prepare for potential short-term fluctuations, particularly in raw material shipments. Meanwhile, Japan’s exports of vehicles and machinery (HS Code 87) to Peru are likely to stabilize after the Q2 front-loaded demand spike, with slower but consistent growth ahead. The resource-for-tech exchange model will continue defining this bilateral trade relationship, reinforcing Peru’s role as a key supplier of industrial inputs.

Strategic Moves for Traders & Policymakers

• Lock in Long-Term Ore Contracts: Given Japan’s reliance on Peruvian minerals, exporters should negotiate multi-year agreements to stabilize revenue and mitigate price volatility.
• Diversify Import Sources for High-Tech Goods: Peru’s heavy dependence on Japanese vehicles and machinery leaves it vulnerable to supply chain disruptions. Importers should explore alternative suppliers in South Korea or Germany to reduce risk.
• Invest in Value-Added Mineral Processing: To move up the value chain, Peru should incentivize domestic processing of ores before export, capturing more profit and reducing reliance on raw material sales.

Frequently Asked Questions

How did Peru - Japan trade perform in 2024 Q2?

Peru's exports to Japan totaled $917.44M, while imports were $323.79M, with 0% YoY growth for both, indicating stable trade levels compared to 2023.

What are the top exports from Peru to Japan?

Peru's top export to Japan is HS Code 26 (Ores, slag, and ash), accounting for 68.06% of total exports, driven by Japan's industrial demand.

What does Peru import from Japan?

Peru primarily imports HS Code 87 (Vehicles) from Japan, making up 24.94% of total imports, reflecting a dependency on high-value industrial goods.

What is the trade balance between Peru and Japan?

Peru holds a $593.65M trade surplus with Japan, as exports nearly triple imports, maintaining a favorable but unbalanced trade relationship.