Peru - Mainland China Trade 2024 Q3: Resource-for-Tech Surplus
Key Market Takeaways: Peru - Mainland China Trade
The bilateral trade relationship between Peru and Mainland China shows growth with volatility in Q3 2024.
- Economic Pulse: Peru maintains a $2.61B trade surplus ($6.85B exports vs. $4.24B imports), though both flows stagnated YoY with sharp monthly swings.
- Exchange Structure: Peru - Mainland China trade statistics reveal a resource-for-tech model—Peru supplies 84% ores (HS 26) while importing machinery (HS 85) for industrial needs.
- Strategic Interdependence: Highly complementary but imbalanced; China captures higher value-add while Peru anchors raw material supply.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Peru-Mainland China Trade Trend in Q3 2024
Peru Export Performance: Shipments to Mainland China
- Total Volume: $6.85B in Q3 2024.
- Growth Trend & Context: YoY growth flat (0.0% across all months). No significant policy shifts or disruptions reported.
- Key Volatility: Sharp MoM drop in September (-16.18%), offsetting modest gains in July (+2.12%) and near-stability in August (-0.25%).
Peru Import Performance: Sourcing from Mainland China
- Total Volume: $4.24B in Q3 2024.
- Growth Trend & Context: YoY growth stagnant (0.0%). No news to explain the 12.76% MoM contraction in September.
- Key Volatility: July saw the highest imports ($1.46B, +14.46% MoM), while September hit the lowest ($1.30B).
Peru - Mainland China Trade Balance & Market Dynamics
- Net Position: Trade surplus of $2.61B (Exports $6.85B > Imports $4.24B).
- Relationship Status: Peru maintains a strong net exporter role, with exports to China exceeding imports by 62%. Volatility in both directions suggests uneven demand or supply chain adjustments.
Peru Import Trend from Mainland China 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 1.46B | 14.46% | 0.0% |
| Aug | 1.48B | 1.98% | 0.0% |
| Sep | 1.30B | -12.76% | 0.0% |
| Total | 4.24B | - | - |
Peru Export Trend to Mainland China 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 2.42B | 2.12% | 0.0% |
| Aug | 2.41B | -0.25% | 0.0% |
| Sep | 2.02B | -16.18% | 0.0% |
| Total | 6.85B | - | - |
Get Historical Peru Mainland China Trade Records
Peru-Mainland China Top Trading Products in Q3 2024
Peru Export Profile: What Does Peru Sell to Mainland China
- Top Commodity: Rank #1 export is HS 26 (Ores, slag, and ash) with 84.23% share.
- Demand Driver: Mainland China uses these for industrial processing, likely in steel production and other manufacturing sectors.
- Concentration: Trade is heavily concentrated, with HS 26 alone accounting for over 80% of exports.
Peru Import Profile: What Does Peru Buy from Mainland China
- Top Commodity: Rank #1 import is HS 85 (Electrical machinery and equipment) with 18.95% share.
- Dependency Nature: Critical technology dependency, as these imports likely include electronics, machinery, and components essential for Peru's industrial and consumer sectors.
Peru - Mainland China Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw materials (ores) to Mainland China, which in turn supplies high-tech and manufactured goods.
- Value Chain Position: Mainland China holds the higher value-add position, exporting complex machinery and electronics, while Peru remains a supplier of raw materials.
Import Analysis by Product: Mainland China to Peru (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 802.57M | 18.95% |
| 84 | 699.21M | 16.51% |
| 87 | 382.93M | 9.04% |
| 39 | 266.54M | 6.29% |
| 72 | 218.93M | 5.17% |
| 73 | 194.33M | 4.59% |
| 40 | 110.36M | 2.61% |
| 29 | 105.17M | 2.48% |
| 64 | 98.23M | 2.32% |
| 95 | 91.59M | 2.16% |
Export Analysis by Product: Peru to Mainland China (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 5.77B | 84.23% |
| 23 | 539.40M | 7.87% |
| 74 | 262.52M | 3.83% |
| 15 | 56.66M | 0.83% |
| 08 | 46.33M | 0.68% |
| 03 | 43.89M | 0.64% |
| 27 | 26.74M | 0.39% |
| 51 | 19.77M | 0.29% |
| 80 | 18.61M | 0.27% |
| 79 | 17.03M | 0.25% |
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 Q4 2024, supported by sustained demand for ores (HS 26) despite recent monthly volatility. However, the flat YoY growth in both exports and imports signals a potential plateau, likely due to softening industrial demand in China and stagnant diversification efforts. Traders should anticipate tighter margins in raw material exports, while importers of Chinese machinery (HS 85) may face pricing pressures from global supply chain adjustments. The resource-for-tech exchange model will persist, but Peru must act to mitigate overreliance on a single commodity and buyer.
Strategic Moves
- Lock in Long-Term Ore Contracts: Exporters should secure multi-year agreements with Chinese buyers to stabilize revenue amid price fluctuations, leveraging Peru’s dominant position in ores.
- Diversify Import Sources for Tech Goods: Reduce dependency on Chinese electronics (HS 85) by exploring competitive suppliers in Southeast Asia or negotiating bulk discounts with alternate manufacturers.
- Invest in Value-Added Processing: Peru must upgrade domestic ore refining capacity to capture higher margins, reducing vulnerability to China’s industrial demand cycles.
Frequently Asked Questions
How did Peru - Mainland China trade perform in 2024 Q3?
Peru's exports to Mainland China totaled $6.85B, while imports were $4.24B in Q3 2024. Both exports and imports showed flat YoY growth (0.0%), with notable monthly volatility.
What are the top exports from Peru to Mainland China?
Ores, slag, and ash (HS 26) dominated Peru's exports to Mainland China, accounting for 84.23% of total shipments, primarily used for industrial processing in China.
What does Peru import from Mainland China?
Electrical machinery and equipment (HS 85) was Peru's top import from Mainland China, representing 18.95% of total imports, reflecting a dependency on high-tech goods.
What is the trade balance between Peru and Mainland China?
Peru maintained a trade surplus of $2.61B with Mainland China in Q3 2024, with exports exceeding imports by 62%. The surplus remained stable YoY despite monthly fluctuations.
Peru - Mainland China Trade 2024 Q2: $2.36B Surplus
Peru's $2.36B trade surplus with Mainland China highlights stable Q2 2024 trends, fueled by ores exports and machinery imports. Explore Peru-China trade dynamics with yTrade data.
Peru - Mainland China Trade 2024 Q4: $1.5B Surplus
Peru's trade surplus with Mainland China hit $1.5B in Q4 2024, driven by ores exports (HS 26) and machinery imports (HS 85). Explore Peru Mainland China trade trends and top trading products via yTrade data.
