Peru - Switzerland Trade 2024 Q2: Stagnant Growth, $571M Surplus

Key Market Takeaways: Peru - Switzerland Trade

The bilateral trade relationship between Peru and Switzerland remains heavily skewed in Peru’s favor, with stagnant growth in Q2 2024.

• Peru dominates with a $571.18M trade surplus, exporting $610.37M (flat YoY) while importing just $39.19M. Volatility spiked in May before slowing in June.
• Peru - Switzerland trade statistics reveal a resource-for-tech exchange: Peru supplies 99.76% precious metals (HS71), while Switzerland exports pharmaceuticals (HS30, 28.33%) and high-value manufactured goods.
• Highly complementary but imbalanced: Switzerland captures higher value-add, while Peru’s export reliance on a single commodity exposes it to price shocks.

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

Peru-Switzerland Trade Trend in Q2 2024

Peru Export Performance: Shipments to Switzerland

• Total Volume: $610.37M in Q2 2024.
• Growth Trend & Context: YoY growth flat (0.0% across all months). No significant policy shifts or external drivers per the data.
• Key Volatility: May saw the highest MoM surge (+13.75%), followed by a -5.94% contraction in June.

Peru Import Performance: Sourcing from Switzerland

• Total Volume: $39.19M in Q2 2024.
• Growth Trend & Context: YoY stagnant (0.0%). No news to contextualize trends.
• Key Volatility: May recorded the strongest MoM jump (+13.04%), while June growth slowed sharply (+1.05%).

Peru - Switzerland Trade Balance & Market Dynamics

• Net Position: Trade surplus of $571.18M (Exports $610.37M vs. Imports $39.19M).
• Relationship Status: Peru dominates as a net exporter, with exports exceeding imports by over 15x. Trade remains heavily skewed in Peru’s favor.

Peru Import Trend from Switzerland 2024 Q2 (Source: yTrade)**

Peru Export Trend to Switzerland 2024 Q2 (Source: yTrade)**

Get Historical Peru Switzerland Trade Records

Peru-Switzerland Top Trading Products in Q2 2024

Peru Export Profile: What Does Peru Sell to Switzerland

• Top Commodity: HS Code 71 (Pearls, precious stones, metals) dominates with 99.76% of exports.
• Demand Driver: Switzerland likely processes these raw materials into high-value jewelry or financial instruments.
• Concentration: Extreme reliance on one category (99.76%), indicating minimal export diversification.

Peru Import Profile: What Does Peru Buy from Switzerland

• Top Commodity: HS Code 30 (Pharmaceutical products) leads at 28.33% of imports.
• Dependency Nature: Reflects critical technology dependency, particularly in advanced healthcare sectors.

Peru - Switzerland Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Peru supplies raw materials (precious metals), Switzerland exports high-tech goods (pharmaceuticals, machinery).
• Value Chain Position: Switzerland holds the higher value-add position, evidenced by complex imports (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 Q3 2024, driven by sustained Swiss demand for raw precious materials (HS 71). However, the lack of export diversification and stagnant YoY growth signals vulnerability to commodity price swings. Without policy shifts or new trade agreements, volumes will likely remain flat, with minor MoM fluctuations mirroring Q2’s volatility. Traders should prepare for a period of consolidation rather than expansion.

Strategic Moves

• Lock in Long-Term Supply Contracts: Peruvian exporters of precious metals must secure multi-year deals with Swiss refiners to stabilize revenue amid price volatility.
• Diversify Export Baskets: Peru’s 99.76% reliance on HS 71 is unsustainable. The government should incentivize shipments of agricultural or manufacturing goods to reduce exposure to single-commodity shocks.
• Boost Pharma Sourcing Efficiency: Swiss pharmaceutical imports (HS 30) account for 28.33% of Peru’s inbound trade. Buyers should negotiate bulk procurement agreements to lower costs and ensure supply chain resilience.

Frequently Asked Questions

How did Peru - Switzerland trade perform in 2024 Q2?

Peru's exports to Switzerland totaled $610.37M, with flat YoY growth (0.0%), while imports were $39.19M, also showing no YoY change.

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 99.76% of total exports.

What does Peru import from Switzerland?

Peru primarily imports HS Code 30 (Pharmaceutical products) from Switzerland, making up 28.33% of total imports.

What is the trade balance between Peru and Switzerland?

Peru holds a trade surplus of $571.18M, with exports exceeding imports by over 15x, maintaining a heavily skewed trade relationship in its favor.