Peru - Switzerland Trade 2024 Whole Year: Stagnant Growth

Key Market Takeaways: Peru - Switzerland Trade

The bilateral trade relationship between Peru and Switzerland remains stagnant in 2024, with flat year-over-year growth for both exports and imports.

• Economic Pulse: Peru holds a $2.49B trade surplus, exporting $2.65B (primarily precious metals) while importing just $157.71M (mostly pharmaceuticals). Volatility spikes in key months suggest underlying demand shifts.
• Exchange Structure: Peru - Switzerland trade statistics reveal a hyper-concentrated, resource-for-tech model: 99% of Peru’s exports are raw precious metals (HS 71), while Switzerland supplies high-value pharmaceuticals (HS 30) and machinery.
• Strategic Interdependence: The partnership is asymmetrically complementary—Peru feeds Switzerland’s luxury/industrial sectors, while relying on Swiss tech and medical goods.

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

Peru-Switzerland Trade Trend in Whole Year 2024

Peru Export Performance: Shipments to Switzerland

• Total Volume: $2.65B in 2024.
• Growth Trend & Context: YoY data is flat (0.0% for all months), indicating no year-over-year change. No relevant news to explain this stagnation.
• Key Volatility: August (+15.08% MoM) and October (+14.55% MoM) saw the strongest monthly gains, while February (-13.32% MoM) and November (-6.25% MoM) posted notable declines.

Peru Import Performance: Sourcing from Switzerland

• Total Volume: $157.71M in 2024.
• Growth Trend & Context: YoY data is flat (0.0% for all months), showing no annual growth. No news to contextualize the trend.
• Key Volatility: October (+70.84% MoM) was the peak month, while December (-23.67% MoM) and September (-13.76% MoM) saw sharp contractions.

Peru - Switzerland Trade Balance & Market Dynamics

• Net Position: Peru holds a trade surplus of $2.49B ($2.65B exports - $157.71M imports).
• Relationship Status: Dominant net exporter role, with exports exceeding imports by over 16x. Trade is heavily skewed toward Peruvian outflows.

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

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

Get Historical Peru Switzerland Trade Records

Peru-Switzerland Top Trading Products in Whole Year 2024

Peru Export Profile: What Does Peru Sell to Switzerland

• Top Commodity: Rank #1 export is HS 71 (Pearls, precious stones, metals) with 99.12% share.
• Demand Driver: Switzerland buys these for industrial processing (e.g., jewelry, watchmaking).
• Concentration: Trade is hyper-concentrated in HS 71 (>99% share), indicating minimal diversification.

Peru Import Profile: What Does Peru Buy from Switzerland

• Top Commodity: Rank #1 import is HS 30 (Pharmaceuticals) with 25.50% share.
• Dependency Nature: Reflects critical technology dependency (high-value pharmaceuticals, medical equipment in Top 10).

Peru - Switzerland Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Peru exports raw materials (precious metals), imports high-tech goods (pharma, machinery).
• Value Chain Position: Switzerland holds the higher value-add position, with Peru supplying low-processed commodities.

Import Analysis by Product: Switzerland to Peru (Source: yTrade)

Export Analysis by Product: Peru to Switzerland (Source: yTrade)

Check Detailed Peru-Switzerland Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Peru’s trade surplus with Switzerland is expected to hold steady in 2025, driven by sustained Swiss demand for precious metals (HS 71) and limited diversification in Peru’s export basket. However, flat YoY growth signals stagnation, suggesting that without new trade incentives or market expansion, volumes may remain static. The volatility in monthly trade flows—particularly the sharp swings in August and October—indicates potential price sensitivity or supply chain disruptions, which traders should monitor closely. If global commodity prices rise, Peru could see a modest uptick in export value, but structural reliance on raw materials leaves the trade balance vulnerable to external shocks.

Strategic Moves

• Lock in Long-Term Contracts: Exporters of precious metals should secure multi-year agreements with Swiss refiners and manufacturers to stabilize revenue streams amid price volatility.
• Diversify Export Offerings: Peru must reduce its over-reliance on HS 71 by promoting secondary sectors like agriculture (e.g., coffee, quinoa) to Swiss buyers, leveraging niche demand for premium goods.
• Optimize Pharma Imports: Importers should negotiate bulk purchasing deals for Swiss pharmaceuticals (HS 30) to lower costs, while exploring alternative suppliers to mitigate dependency risks.

Frequently Asked Questions

How did Peru - Switzerland trade perform in 2024 Whole Year?

Peru's trade with Switzerland totaled $2.65B in exports and $157.71M in imports in 2024, with no year-over-year growth (0.0% YoY) for both directions.

What are the top exports from Peru to Switzerland?

HS 71 (Pearls, precious stones, metals) dominated Peru's exports to Switzerland, accounting for 99.12% of total shipments, primarily for industrial processing like jewelry and watchmaking.

What does Peru import from Switzerland?

HS 30 (Pharmaceuticals) was Peru's top import from Switzerland, holding a 25.50% share, reflecting a reliance on high-value medical and technological goods.

What is the trade balance between Peru and Switzerland?

Peru holds a trade surplus of $2.49B with Switzerland, as exports exceed imports by over 16x, maintaining a dominant net exporter position.