Peru - Mainland China Trade 2024 Whole Year: $40.65B Exchange

Key Market Takeaways: Peru - Mainland China Trade

The bilateral trade relationship between Peru and Mainland China reflects a volatile yet strategically complementary exchange in 2024.

• $40.65B Total Trade | $9.03B Surplus: Peru maintains a strong net exporter position, with exports ($24.84B) outpacing imports ($15.81B) by 57%.
• Resource-for-Tech Trade: Peru - Mainland China trade statistics show 85.86% of exports are ores (HS26), while imports are led by electrical machinery (HS85, 18.11%), highlighting a raw-materials-for-manufactured-goods dynamic.
• Asymmetric Interdependence: Mainland China holds the higher value-add position, while Peru’s export concentration underscores commodity-driven vulnerability.

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

Peru-Mainland China Trade Trend in Whole Year 2024

Peru Export Performance: Shipments to Mainland China

• Total Volume: $24.84B in 2024.
• Growth Trend & Context: YoY data unavailable (0.0% for all months). No significant news to contextualize trends.
• Key Volatility: November saw a sharp 52.35% MoM surge, while April (-26.0%) and December (-30.43%) recorded steep declines.

Peru Import Performance: Sourcing from Mainland China

• Total Volume: $15.81B in 2024.
• Growth Trend & Context: YoY data flat (0.0% throughout). No news to explain fluctuations.
• Key Volatility: October posted a 26.6% MoM jump, while September dropped -12.76%.

Peru - Mainland China Trade Balance & Market Dynamics

• Net Position: Trade surplus of $9.03B (Exports $24.84B > Imports $15.81B).
• Relationship Status: Peru maintains a strong net exporter role, with exports exceeding imports by 57%. Volatility in exports (e.g., November’s 52% spike) suggests uneven demand or commodity price swings.

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

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

Get Historical Peru Mainland China Trade Records

Peru-Mainland China Top Trading Products in Whole Year 2024

Peru Export Profile: What Does Peru Sell to Mainland China

• Top Commodity: Rank #1 export is HS Code 26 (Ores, slag, and ash), accounting for 85.86% of total exports to Mainland China.
• Demand Driver: Mainland China uses these raw materials for industrial processing, likely in steel production and other manufacturing sectors.
• Concentration: Trade is heavily concentrated, with HS Code 26 dominating at over 85% share.

Peru Import Profile: What Does Peru Buy from Mainland China

• Top Commodity: Rank #1 import is HS Code 85 (Electrical machinery and equipment), making up 18.11% of total imports from Mainland China.
• Dependency Nature: Reflects a critical technology dependency, as these imports include high-tech and industrial machinery essential for Peru's infrastructure and manufacturing.

Peru - Mainland China Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw materials (ores) to Mainland China, while importing high-value machinery and electronics.
• Value Chain Position: Mainland China holds the higher value-add position, supplying advanced manufactured goods, while Peru remains a supplier of primary commodities.

Import Analysis by Product: Mainland China to Peru (Source: yTrade)

Export Analysis by Product: Peru to Mainland China (Source: yTrade)

Check Detailed Peru-Mainland China Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Peru’s trade surplus with Mainland China is expected to hold steady in 2025, driven by sustained demand for ores (HS Code 26) as China’s industrial sector continues to rely on raw material imports. However, exporters should brace for volatility, given the erratic monthly swings in 2024—particularly the sharp November surge and December plunge—which suggest commodity price sensitivity or uneven Chinese procurement cycles. The resource-for-tech exchange model will persist, but Peru must address its overreliance on a single export category to mitigate risks from demand shocks.

Strategic Moves

• Diversify Export Basket: Peruvian exporters must reduce dependence on ores by expanding into higher-value mineral processing or agricultural exports (e.g., coffee, quinoa) to capture more stable demand.
• Lock In Long-Term Contracts: Given the volatility in ore shipments, mining firms should negotiate multi-year supply agreements with Chinese buyers to stabilize revenue streams and hedge against price swings.
• Upgrade Import Substitution: Peru should prioritize local production of mid-tier machinery and electronics (HS Code 85 subsets) to reduce reliance on Chinese tech imports, leveraging FDI or joint ventures to build domestic capacity.

Frequently Asked Questions

How did Peru - Mainland China trade perform in 2024 Whole Year?

Peru exported $24.84B to Mainland China and imported $15.81B, with no significant YoY growth reported for either exports or imports.

What are the top exports from Peru to Mainland China?

The top export is HS Code 26 (Ores, slag, and ash), accounting for 85.86% of Peru's total exports to Mainland China.

What does Peru import from Mainland China?

The top import is HS Code 85 (Electrical machinery and equipment), making up 18.11% of Peru's total imports from Mainland China.

What is the trade balance between Peru and Mainland China?

Peru recorded a trade surplus of $9.03B in 2024, with exports exceeding imports by 57%.