Peru - Mainland China Trade 2024 Q4: $1.5B Surplus
Key Market Takeaways: Peru - Mainland China Trade
The bilateral trade relationship between Peru and Mainland China remains strong with a consistent trade surplus in Q4 2024.
- Economic Pulse: Peru holds a $1.5B trade surplus ($6.25B exports vs. $4.75B imports), though both flows showed flat YoY growth amid monthly volatility.
- Exchange Structure: Peru - Mainland China trade statistics reveal a resource-for-tech complementarity—Peru supplies 90% ores (HS 26) while importing machinery/electronics (HS 85).
- Strategic Interdependence: Highly concentrated trade underscores Peru’s role as a raw material supplier to China’s industrial base, with limited diversification.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Peru-Mainland China Trade Trend in Q4 2024
Peru Export Performance: Shipments to Mainland China
- Total Volume: $6.25B in Q4 2024.
- Growth Trend & Context: YoY data shows no change (0.0% across months). No significant news to explain trends.
- Key Volatility: November saw a sharp 52.35% MoM surge, followed by a 30.43% drop in December.
Peru Import Performance: Sourcing from Mainland China
- Total Volume: $4.75B in Q4 2024.
- Growth Trend & Context: YoY data flat (0.0%). No news to contextualize movements.
- Key Volatility: October imports rose 26.6% MoM, then dipped 6.37% in November before a slight December rebound (+2.57%).
Peru - Mainland China Trade Balance & Market Dynamics
- Net Position: Peru holds a $1.5B trade surplus with Mainland China (Exports: $6.25B > Imports: $4.75B).
- Relationship Status: Strong net exporter role, with exports consistently outpacing imports. Volatility in export MoM suggests fluctuating demand or supply chain adjustments.
Peru Import Trend from Mainland China 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 1.64B | 26.6% | 0.0% |
| Nov | 1.54B | -6.37% | 0.0% |
| Dec | 1.57B | 2.57% | 0.0% |
| Total | 4.75B | - | - |
Peru Export Trend to Mainland China 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 1.74B | -13.71% | 0.0% |
| Nov | 2.66B | 52.35% | 0.0% |
| Dec | 1.85B | -30.43% | 0.0% |
| Total | 6.25B | - | - |
Get Historical Peru Mainland China Trade Records
Peru-Mainland China Top Trading Products in Q4 2024
Peru Export Profile: What Does Peru Sell to Mainland China
- Top Commodity: Rank #1 export is HS 26 (Ores, slag, and ash) with 90.41% share.
- Demand Driver: Mainland China buys these for industrial processing, likely for steel production and other manufacturing needs.
- Concentration: Trade is highly concentrated, with HS 26 dominating at over 90% 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 16.16% share.
- Dependency Nature: Imports are critical technology dependency, covering machinery and electronics 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) and imports high-tech goods (machinery, electronics).
- Value Chain Position: Mainland China holds the higher value-add position, supplying advanced manufactured goods while Peru provides raw inputs.
Import Analysis by Product: Mainland China to Peru (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 767.43M | 16.16% |
| 84 | 756.38M | 15.93% |
| 87 | 409.57M | 8.62% |
| 72 | 326.42M | 6.87% |
| 39 | 319.77M | 6.73% |
| 73 | 184.37M | 3.88% |
| 95 | 145.08M | 3.05% |
| 38 | 113.28M | 2.39% |
| 40 | 112.11M | 2.36% |
| 29 | 111.74M | 2.35% |
Export Analysis by Product: Peru to Mainland China (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 26 | 5.65B | 90.41% |
| 74 | 204.66M | 3.27% |
| 27 | 107.62M | 1.72% |
| 23 | 82.91M | 1.33% |
| 08 | 61.32M | 0.98% |
| 80 | 40.56M | 0.65% |
| 15 | 19.07M | 0.31% |
| 51 | 14.12M | 0.23% |
| 14 | 12.58M | 0.20% |
| 03 | 11.57M | 0.19% |
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 early 2025, driven by sustained demand for ores (HS 26) as China’s industrial sector continues to rely on raw material imports. However, the sharp MoM volatility in Peru’s exports signals potential supply chain disruptions or fluctuating Chinese demand, requiring close monitoring. The tech-heavy import profile (HS 85) suggests Peru will remain dependent on Chinese machinery, but diversification opportunities exist to mitigate overreliance. Traders should prepare for price swings in ores while capitalizing on stable tech import flows.
Strategic Moves
- Lock in Long-term Ore Contracts: Peruvian exporters should secure multi-year agreements with Chinese buyers to stabilize revenue amid volatile monthly shipments.
- Diversify Tech Suppliers: Importers must explore alternative markets (e.g., Southeast Asia, EU) for electrical machinery to reduce dependency on Chinese supply chains.
- Invest in Export Value-Add: Peru should prioritize processing ores domestically before export to capture higher margins and reduce exposure to raw material price swings.
Frequently Asked Questions
How did Peru - Mainland China trade perform in 2024 Q4?
Peru exported $6.25B and imported $4.75B from Mainland China in Q4 2024, with flat YoY growth (0.0%) for both exports and imports.
What are the top exports from Peru to Mainland China?
HS 26 (Ores, slag, and ash) dominated Peru's exports to Mainland China, accounting for 90.41% of total shipments.
What does Peru import from Mainland China?
HS 85 (Electrical machinery and equipment) was Peru's top import from Mainland China, representing 16.16% of total imports.
What is the trade balance between Peru and Mainland China?
Peru held a $1.5B trade surplus with Mainland China in Q4 2024, maintaining its strong net exporter position.
Peru - Mainland China Trade 2024 Q3: Resource-for-Tech Surplus
Peru's $2.61B trade surplus with Mainland China highlights a resource-for-tech exchange, with ores dominating Peru Mainland China top trading products. Track trends on yTrade.
Peru - Mainland China Trade 2025 Q1: Resource-for-Tech Surplus
Peru's $1.71B trade surplus with Mainland China highlights a resource-for-tech dynamic, with ores dominating exports and machinery leading imports. Explore Peru Mainland China trade trends and top trading products via yTrade data.
