Peru - Japan Trade 2024 Q4: Resource-for-Tech Surge

Key Market Takeaways: Peru - Japan Trade

The bilateral trade relationship between Peru and Japan remains stable in Q4 2024, with Peru maintaining a strong export-driven surplus.

• Economic Pulse: Peru holds a $549.09M trade surplus ($836.56M exports vs. $287.47M imports), reflecting steady YoY volumes but volatile monthly swings, including a 53% MoM export surge in December.
• Exchange Structure: Peru - Japan trade statistics reveal a classic "Resource-for-Tech" dynamic—Peru supplies ores (64% of exports) while importing Japanese vehicles (30%) and machinery (24%).
• Strategic Interdependence: Highly complementary economies, with Japan relying on Peruvian raw materials and Peru dependent on Japanese high-value industrial inputs.

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

Peru-Japan Trade Trend in Q4 2024

Peru Export Performance: Shipments to Japan

• Total Volume: $836.56M in Q4 2024.
• Growth Trend & Context: YoY data shows 0% change, indicating stability year-over-year. No trade news or policy shifts were reported to explain trends.
• Key Volatility: December saw a sharp 53.04% MoM surge, lifting exports to $383.81M—the quarter’s peak.

Peru Import Performance: Sourcing from Japan

• Total Volume: $287.47M in Q4 2024.
• Growth Trend & Context: YoY remained flat (0%), with no external factors cited. Imports fell consistently MoM, dropping -12.3% in November and -9.57% in December.
• Key Volatility: October was the strongest month ($107.67M), followed by a steady decline.

Peru - Japan Trade Balance & Market Dynamics

• Net Position: Peru holds a trade surplus of $549.09M (Exports: $836.56M > Imports: $287.47M).
• Relationship Status: Peru is a net exporter to Japan, with exports nearly triple imports, signaling strong export reliance or competitive advantages in key sectors.

Peru Import Trend from Japan 2024 Q4 (Source: yTrade)**

Peru Export Trend to Japan 2024 Q4 (Source: yTrade)**

Get Historical Peru Japan Trade Records

Peru-Japan Top Trading Products in Q4 2024

Peru Export Profile: What Does Peru Sell to Japan

• Top Commodity: Rank #1 export is HS Code 26 (Ores, slag, and ash) with a dominant 64.38% share.
• Demand Driver: Japan imports these raw materials for industrial processing, likely for metal production or manufacturing inputs.
• Concentration: Trade is highly concentrated, with ores alone accounting for nearly two-thirds of exports.

Peru Import Profile: What Does Peru Buy from Japan

• Top Commodity: Rank #1 import is HS Code 87 (Vehicles) at 30.25% share, followed closely by HS Code 84 (Machinery) at 23.57%.
• Dependency Nature: Reflects critical technology dependency, with Japan supplying high-value machinery and transportation equipment essential for Peru’s industrial and infrastructure development.

Peru - Japan Trade Relationship Dynamics

• The Exchange Model: Classic "Resource-for-Tech Complementarity"—Peru exports raw materials (ores, minerals) and imports advanced machinery and vehicles.
• Value Chain Position: Japan holds the higher value-add position, exporting finished goods (vehicles, machinery) while Peru supplies low-processed commodities. Trade asymmetry aligns with typical developed-developing country dynamics.

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 hold steady in 2025, driven by sustained demand for raw materials (HS Code 26) and Japan’s reliance on Peruvian ores for industrial production. However, the flat YoY growth in both exports and imports signals a mature trade relationship with limited near-term expansion unless new sectors emerge. Exporters should anticipate potential volatility in monthly shipments, mirroring Q4 2024’s sharp December surge, while importers may face continued declines in Japanese machinery and vehicle inflows.

Strategic Moves

• Lock in Long-Term Ore Contracts: Peruvian mining firms should secure multi-year agreements with Japanese buyers to stabilize revenue and mitigate price fluctuations in global commodity markets.
• Diversify Export Composition: Reduce overreliance on ores by promoting secondary exports like agricultural goods (e.g., coffee, grapes) to Japan, leveraging existing trade channels.
• Optimize Tech Imports: Peruvian manufacturers must prioritize high-efficiency Japanese machinery (HS Code 84) to upgrade local production capacity, targeting sectors with the fastest ROI, such as automotive or electronics assembly.

Frequently Asked Questions

How did Peru - Japan trade perform in 2024 Q4?

Peru's exports to Japan totaled $836.56M, showing 0% YoY growth, while imports were $287.47M, also flat YoY. December saw a 53.04% MoM export surge, but imports declined steadily.

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 64.38% of total exports, reflecting a heavy reliance on raw materials.

What does Peru import from Japan?

Peru primarily imports HS Code 87 (Vehicles, 30.25%) and HS Code 84 (Machinery, 23.57%) from Japan, highlighting a dependency on advanced technology and industrial equipment.

What is the trade balance between Peru and Japan?

Peru holds a trade surplus of $549.09M with Japan, as exports ($836.56M) nearly triple imports ($287.47M), indicating strong export reliance.