Peru - United Arab Emirates Trade 2024 Q2: Surplus Amid Decline

Key Market Takeaways: Peru - United Arab Emirates Trade

The bilateral trade relationship between Peru and United Arab Emirates is marked by Peru's dominant trade surplus amid volatile export declines in Q2 2024.

• Economic Pulse: Peru holds a $502.69M surplus ($514.37M exports vs. $11.68M imports), but exports fell sharply (-42.05% MoM peak drop).
• Exchange Structure: Peru - United Arab Emirates trade statistics reveal hyper-specialization: 98.81% of Peru’s exports are precious metals (HS 71), while it relies on UAE for plastics (HS 39, 52.76% of imports).
• Strategic Interdependence: A resource-for-tech complementarity—Peru supplies raw materials, UAE adds value with processed industrial inputs.

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

Peru-United Arab Emirates Trade Trend in Q2 2024

Peru Export Performance: Shipments to United Arab Emirates

• Total Volume: $514.37M in Q2 2024.
• Growth Trend & Context: Exports showed a consistent monthly decline (-42.05% MoM in April, -18.71% in May, -24.66% in June). No YoY comparison is available (0.0% for all months).
• Key Volatility: April saw the sharpest drop (-42.05% MoM), while June recorded the lowest export value ($129.88M).

Peru Import Performance: Sourcing from United Arab Emirates

• Total Volume: $11.68M in Q2 2024.
• Growth Trend & Context: Imports fluctuated sharply (+25.37% MoM in April, -23.09% in May, +56.42% in June). No YoY data is reported (0.0% for all months).
• Key Volatility: June had the highest value ($4.73M) and the largest MoM surge (+56.42%).

Peru - United Arab Emirates Trade Balance & Market Dynamics

• Net Position: Peru holds a trade surplus of $502.69M ($514.37M exports vs. $11.68M imports).
• Relationship Status: Peru is a dominant net exporter to the UAE, with exports exceeding imports by 44x. Trade remains highly one-sided.

Peru Import Trend from United Arab Emirates 2024 Q2 (Source: yTrade)**

Peru Export Trend to United Arab Emirates 2024 Q2 (Source: yTrade)**

Get Historical Peru United Arab Emirates Trade Records

Peru-United Arab Emirates Top Trading Products in Q2 2024

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

• Top Commodity: Rank #1 export is HS 71 (Pearls, precious stones, metals) with a 98.81% share.
• Demand Driver: United Arab Emirates buys these for industrial processing and luxury goods manufacturing, likely for re-export or domestic high-end markets.
• Concentration: Extreme dominance of HS 71 (>98%) indicates hyper-specialization in this trade flow.

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

• Top Commodity: Rank #1 import is HS 39 (Plastics and articles thereof) with a 52.76% share.
• Dependency Nature: Reflects industrial input dependency, likely for packaging, construction, or manufacturing sectors in Peru.

Peru - United Arab Emirates Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Peru exports raw precious materials (HS 71) and imports processed industrial inputs (HS 39, 27, 28).
• Value Chain Position: United Arab Emirates holds higher value-add, supplying processed goods (plastics, chemicals) while Peru provides unprocessed commodities (precious metals).

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 persist in Q3 2024, driven by sustained demand for HS 71 (precious metals and stones) in the UAE’s luxury and industrial sectors. However, the recent monthly declines in Peruvian exports (-24.66% MoM in June) signal potential short-term volatility, likely tied to fluctuating commodity prices or supply chain adjustments. Imports from the UAE, though small in volume, may continue their upward trajectory (+56.42% MoM in June) as Peru’s industrial sector seeks processed inputs like plastics (HS 39). Traders should prepare for a period of consolidation, with export values stabilizing near Q2’s lows unless new contracts or price rebounds intervene.

Strategic Moves

• Lock in Long-Term Contracts: Peruvian exporters of HS 71 must secure multi-quarter agreements with UAE buyers to mitigate price volatility and ensure stable revenue streams.
• Diversify Import Sources: Given Peru’s heavy reliance on UAE plastics (HS 39), importers should scout alternative suppliers in Southeast Asia or Europe to reduce dependency risks.
• Monitor UAE Industrial Policy Shifts: Traders must track the UAE’s manufacturing and re-export strategies, as changes in luxury goods demand or processing regulations could directly impact HS 71 shipments.

Frequently Asked Questions

How did Peru - United Arab Emirates trade perform in 2024 Q2?

Peru's exports to the UAE totaled $514.37M but declined monthly (-42.05% MoM in April), while imports fluctuated sharply (+56.42% MoM in June) to $11.68M.

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

HS 71 (Pearls, precious stones, metals) dominated Peru's exports to the UAE, accounting for 98.81% of total shipments.

What does Peru import from United Arab Emirates?

HS 39 (Plastics and articles thereof) was the top import, representing 52.76% of Peru's purchases from the UAE.

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

Peru holds a $502.69M trade surplus with the UAE, as exports exceeded imports by 44x in Q2 2024.