Peru - United Arab Emirates Trade 2024 Q1: Explosive Growth & Volatility

Key Market Takeaways: Peru - United Arab Emirates Trade

The bilateral trade relationship between Peru and United Arab Emirates is marked by explosive growth and extreme volatility in Q1 2024.

• Peru dominates with a $596.57M trade surplus, driven by $603.68M in exports—85x higher than imports ($7.11M). Volatility spikes suggest commodity-driven trade.
• Peru - United Arab Emirates trade statistics reveal a raw-for-processed exchange: Peru ships precious metals (98.97% of exports, HS 71) while importing plastics (31.74%, HS 39) for industrial use.
• Highly asymmetric interdependence: Peru relies on UAE as a commodity buyer, while UAE’s role as a value-adder (re-export hub) limits Peru’s upside.

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

Peru-United Arab Emirates Trade Trend in Q1 2024

Peru Export Performance: Shipments to United Arab Emirates

• Total Volume: $603.68M in Q1 2024.
• Growth Trend & Context:
  • YoY data shows no prior-year comparison (0.0% for all months), indicating new or previously negligible trade.
  • Extreme volatility: February saw a -55.33% MoM drop, followed by a 398.58% surge in March.
• Key Volatility: March’s exports ($365.95M) dominated, likely driven by one-off shipments or commodity price swings.

Peru Import Performance: Sourcing from United Arab Emirates

• Total Volume: $7.11M in Q1 2024.
• Growth Trend & Context:
  • YoY data also shows no prior-year comparison (0.0%), suggesting nascent trade.
  • Steady MoM growth: +65.42% in February, +26.46% in March.
• Key Volatility: February ($2.48M) and March ($3.13M) marked incremental increases, possibly reflecting rising demand for specific imports.

Peru - United Arab Emirates Trade Balance & Market Dynamics

• Net Position: Trade surplus of $596.57M (Exports $603.68M vs. Imports $7.11M).
• Relationship Status: Peru is a dominant net exporter, with exports outweighing imports by 85:1. The UAE likely serves as a key buyer of Peruvian commodities (e.g., minerals, agriculture), while Peru’s imports from the UAE remain minimal.

Peru Import Trend from United Arab Emirates 2024 Q1 (Source: yTrade)**

Peru Export Trend to United Arab Emirates 2024 Q1 (Source: yTrade)**

Get Historical Peru United Arab Emirates Trade Records

Peru-United Arab Emirates Top Trading Products in Q1 2024

Peru Export Profile: What Does Peru Sell to United Arab Emirates

• Top Commodity: HS Code 71 (Pearls, precious stones, metals) dominates with 98.97% share.
• Demand Driver: United Arab Emirates likely processes these into jewelry or re-exports them, leveraging its global trade hubs like Dubai.
• Concentration: Extreme reliance on one category (98.97%), indicating high vulnerability to price swings in precious metals.

Peru Import Profile: What Does Peru Buy from United Arab Emirates

• Top Commodity: HS Code 39 (Plastics) leads at 31.74% of imports.
• Dependency Nature: Industrial input dependency—Peru likely uses these for packaging, construction, or manufacturing sectors.

Peru - United Arab Emirates Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw precious metals (HS 71) and imports processed industrial materials (HS 39, 28).
• Value Chain Position: United Arab Emirates adds more value—Peru’s exports are raw (HS 71), while imports include higher-value plastics and chemicals (HS 39, 28).

Import Analysis by Product: United Arab Emirates to Peru (Source: yTrade)

Export Analysis by Product: Peru to United Arab Emirates (Source: yTrade)

Check Detailed Peru-United Arab Emirates Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Peru’s trade surplus with the United Arab Emirates (UAE) is expected to remain robust in Q2 2024, driven by sustained demand for precious metals (HS 71). However, extreme volatility in export volumes—evidenced by March’s 398.58% surge—suggests reliance on sporadic high-value shipments rather than steady trade flows. The UAE’s role as a global re-export hub will likely keep imports of Peruvian raw materials stable, while Peru’s minimal imports from the UAE may grow incrementally as industrial demand rises. Traders should prepare for price swings in precious metals and potential supply chain disruptions.

Strategic Moves

• Diversify Export Commodities: Peru’s 98.97% reliance on HS 71 exposes it to commodity price shocks. Exporters must explore secondary sectors (e.g., agriculture, textiles) to mitigate risk and tap into the UAE’s diversified import market.
• Lock in Long-Term Contracts: Given the volatility in precious metals, Peruvian miners and traders should secure multi-year agreements with UAE buyers to stabilize revenue streams and reduce exposure to spot market fluctuations.
• Boost Industrial Input Imports: Peru’s growing plastics demand (HS 39) signals opportunities for UAE exporters. Peruvian manufacturers should negotiate bulk purchase deals to lower costs and ensure supply chain resilience.

Frequently Asked Questions

How did Peru - United Arab Emirates trade perform in 2024 Q1?

Peru exported $603.68M to the UAE and imported $7.11M, with extreme volatility in exports and steady growth in imports.

What are the top exports from Peru to United Arab Emirates?

Pearls, precious stones, and metals (HS Code 71) dominate, accounting for 98.97% of Peru’s exports to the UAE.

What does Peru import from United Arab Emirates?

Plastics (HS Code 39) lead Peru’s imports from the UAE, making up 31.74% of the total.

What is the trade balance between Peru and United Arab Emirates?

Peru recorded a trade surplus of $596.57M, with exports outweighing imports by 85:1.