Top Peru Imports 2024 Q1: Energy & Machinery

Peru Import Portfolio Overview in 2024 Q1

• Dominated by Mineral Fuels (HS 27, 17.86%, $2.22B) and Machinery (HS 84, 12.42%, $1.54B), reflecting heavy reliance on energy imports and capital goods for industrial and mining operations.
• Concentration risk is moderate; top two sectors account for 30% of imports, exposing Peru to global energy price volatility and supply chain disruptions in machinery.
• This structure underscores Peru’s role as a resource-driven economy dependent on imported energy and equipment to sustain its mining and agricultural export sectors.

Table: Peru Top Import Product in 2024 Q1 (Source: yTrade)

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Import Key Driver: Mineral Fuels, Mineral Oils and Products of Their Distillation

• Driven by Crude Oil (HS 2709, $1.17B, 52.59% of sector), a raw material essential for refining and energy supply.
• As a net energy importer, Peru relies on crude inflows to offset domestic production shortfalls and fuel its transport and industrial sectors, critical for supporting export-oriented mining operations.

Table: HS Code 27 Detailed Breakdown

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Import Key Driver: Nuclear Reactors, Boilers, Machinery and Mechanical Appliances

• Led by Automatic Data Processing Machines (HS 8471, $196.95M, 12.78% of sector), finished goods integral to modernizing Peru’s industrial and administrative infrastructure.
• Complements the fuels sector by supplying the equipment needed for mining, agriculture, and logistics, reducing operational inefficiencies and supporting productivity gains.
• Strategically vital for sustaining Peru’s export competitiveness and economic diversification efforts.

Table: HS Code 84 Detailed Breakdown

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Import Key Driver: Vehicles Other Than Railway or Tramway Rolling-Stock

• Dominated by Passenger Vehicles (HS 8703, $380.34M, 35.11% of sector), finished goods meeting domestic demand for personal and commercial transport.
• Functions as a stable legacy import, reflecting growing consumer markets and urban mobility needs, yet remains secondary to capital and energy imports in economic impact.

Table: HS Code 87 Detailed Breakdown

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Frequently Asked Questions

What is Peru's largest import commodity in 2024 Q1?

The largest import category is Mineral fuels, mineral oils, and products of their distillation (HS 27), valued at $2.22B. This sector is primarily driven by imports of Crude oil (HS 2709), which alone accounts for $1.17B (52.59%) of the total.

Which specific Mineral fuels products does Peru import most in 2024 Q1?

Within the Mineral fuels sector, the top imports are Crude oil (HS 2709, $1.17B) and Petroleum oils (HS 2710, $959.57M), which together make up 95.91% of the category’s total imports.

Does Peru import Nuclear reactors, boilers, and machinery in 2024 Q1?

Yes. Nuclear reactors, boilers, and machinery (HS 84) is the second-largest import sector, valued at $1.54B. The leading product is Automatic data processing machines (HS 8471), accounting for $196.95M (12.78%).

What are the main industries driving Peru's economy?

Peru’s import economy is heavily reliant on three key sectors:

1. Mineral fuels (HS 27, $2.22B, 17.86%)
2. Machinery (HS 84, $1.54B, 12.42%)
3. Vehicles (HS 87, $1.08B, 8.73%)

How to find Peru Mineral fuels buyers?

You can access a list of active overseas buyers and importers for Mineral fuels (HS 27) using the yTrade database, which provides detailed shipment records and company contacts.