Peru - Switzerland Trade 2024 Q1: Stable Resource-Tech Exchange

Key Market Takeaways: Peru - Switzerland Trade

The bilateral trade relationship between Peru and Switzerland remains stable with no significant growth or decline in Q1 2024.

• Economic Pulse: Peru holds a $532.29M trade surplus, with exports ($570.42M) dwarfing imports ($38.13M). Volatility in monthly flows suggests uneven order patterns.
• Exchange Structure: Peru - Switzerland trade statistics reveal a resource-for-tech dynamic—Peru ships raw precious metals (99.42% of exports), while Switzerland supplies pharmaceuticals (27.89% of imports).
• Strategic Interdependence: Highly complementary but imbalanced; Peru relies on Swiss high-value goods, while Switzerland depends on Peruvian raw materials.

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

Peru-Switzerland Trade Trend in Q1 2024

Peru Export Performance: Shipments to Switzerland

• Total Volume: $570.42M in Q1 2024.
• Growth Trend & Context: YoY data shows no change (0.0% for all months), indicating stable demand. No significant policy shifts or disruptions reported.
• Key Volatility: February saw a -13.32% MoM drop, followed by a milder -3.23% decline in March.

Peru Import Performance: Sourcing from Switzerland

• Total Volume: $38.13M in Q1 2024.
• Growth Trend & Context: YoY data flat (0.0%), suggesting consistent import levels. No news-driven anomalies.
• Key Volatility: February spiked 45.3% MoM, then plunged -28.01% in March, highlighting erratic order patterns.

Peru - Switzerland Trade Balance & Market Dynamics

• Net Position: Peru holds a trade surplus of $532.29M (Exports $570.42M vs. Imports $38.13M).
• Relationship Status: Dominant net exporter role, with exports 15x higher than imports. Trade heavily favors Peru.

Peru Import Trend from Switzerland 2024 Q1 (Source: yTrade)**

Peru Export Trend to Switzerland 2024 Q1 (Source: yTrade)**

Get Historical Peru Switzerland Trade Records

Peru-Switzerland Top Trading Products in Q1 2024

Peru Export Profile: What Does Peru Sell to Switzerland

• Top Commodity: HS Code 71 (Pearls, precious stones, metals) dominates with 99.42% of exports.
• Demand Driver: Switzerland likely processes these raw materials into high-value jewelry or financial instruments (e.g., gold reserves).
• Concentration: Extreme reliance on one category (99.42%), indicating minimal diversification.

Peru Import Profile: What Does Peru Buy from Switzerland

• Top Commodity: HS Code 30 (Pharmaceutical products) leads at 27.89% of imports.
• Dependency Nature: Reflects critical reliance on Swiss pharmaceuticals, suggesting gaps in Peru’s domestic medical production capacity.

Peru - Switzerland Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Peru exports raw materials (precious metals), while Switzerland supplies high-tech goods (pharmaceuticals, machinery).
• Value Chain Position: Switzerland holds the higher value-add position, exporting processed/advanced goods (pharmaceuticals, precision instruments) versus Peru’s raw material exports.

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 Q2 2024, driven by sustained Swiss demand for precious metals (HS 71) and stable pharmaceutical imports (HS 30). However, the extreme export concentration in raw materials leaves Peru vulnerable to price volatility in global commodity markets. Without diversification, Peru risks stagnation in trade value growth despite its favorable balance. The erratic import patterns from Switzerland suggest potential supply chain disruptions, urging traders to monitor order timing closely.

Strategic Moves

• Lock in Long-Term Contracts for Precious Metals: Given Switzerland’s reliance on Peruvian gold and precious stones, exporters should negotiate multi-quarter agreements to stabilize revenue streams amid fluctuating demand.
• Diversify Export Basket Beyond HS 71: Peru must reduce dependency on a single commodity by promoting secondary sectors like agriculture (e.g., coffee, quinoa) to Swiss buyers, leveraging existing trade channels.
• Secure Backup Suppliers for Pharmaceuticals: Importers should identify alternative sources for critical medical products to mitigate risks from Switzerland’s volatile shipment patterns, possibly exploring regional or EU markets.

Frequently Asked Questions

How did Peru - Switzerland trade perform in 2024 Q1?

Peru's exports to Switzerland totaled $570.42M, showing stable YoY growth (0.0%), while imports were $38.13M, also flat YoY. The trade balance favored Peru with a $532.29M surplus.

What are the top exports from Peru to Switzerland?

Peru's top export to Switzerland is HS Code 71 (Pearls, precious stones, metals), accounting for 99.42% of total exports.

What does Peru import from Switzerland?

Peru primarily imports HS Code 30 (Pharmaceutical products) from Switzerland, making up 27.89% of total imports.

What is the trade balance between Peru and Switzerland?

Peru holds a trade surplus of $532.29M with Switzerland, as exports ($570.42M) far exceed imports ($38.13M). The gap remains significant, with exports 15x higher than imports.