Peru - United States Trade 2024 Whole Year: Stable Exports, Erratic Imports

Key Market Takeaways: Peru - United States Trade

• The bilateral trade relationship between Peru and United States shows stable export levels but erratic import demand in 2024.
• Economic Pulse: Peru runs a $420M trade deficit with the U.S. ($10.00B imports vs. $9.58B exports), with volatile month-to-month swings in energy imports.
• Exchange Structure: Peru - United States trade statistics reveal a resource-for-tech complementarity—Peru supplies agricultural goods (28% edible fruits/nuts) while importing U.S. energy (49.55% mineral fuels) and machinery.
• Strategic Interdependence: Moderate dependency with balanced trade flows; Peru’s raw material exports anchor the relationship, while U.S. holds value-add in advanced manufacturing.

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

Peru-United States Trade Trend in Whole Year 2024

Peru Export Performance: Shipments to United States

• Total Volume: $9.58B in 2024.
• Growth Trend & Context: YoY data is flat (0.0% across all months), indicating stable export levels compared to the previous year. No significant policy or external events were reported to influence this trend.
• Key Volatility: Exports surged by 39.86% MoM in July, followed by sustained growth through December, peaking at $1.20B in December. February saw the sharpest drop (-26.7% MoM).

Peru Import Performance: Sourcing from United States

• Total Volume: $10.00B in 2024.
• Growth Trend & Context: YoY data remains unchanged (0.0%), suggesting steady import demand. No news context was provided to explain fluctuations.
• Key Volatility: Imports peaked in July ($993.87M, +22.72% MoM) and hit a low in September ($760.09M, -19.01% MoM), reflecting erratic month-to-month demand.

Peru - United States Trade Balance & Market Dynamics

• Net Position: Trade deficit of $420M (Imports $10.00B > Exports $9.58B).
• Relationship Status: Peru remains a net importer from the U.S., though the deficit is relatively narrow, indicating balanced dependency with moderate import reliance.

Peru Import Trend from United States 2024 Whole Year (Source: yTrade)**

Peru Export Trend to United States 2024 Whole Year (Source: yTrade)**

Get Historical Peru United States Trade Records

Peru-United States Top Trading Products in Whole Year 2024

Peru Export Profile: What Does Peru Sell to United States

• Top Commodity: Rank #1 export is HS 08 (Edible fruit & nuts) at 28.01% of total exports to the U.S.
• Demand Driver: Primarily serving the U.S. consumer market for fresh produce and specialty agricultural goods.
• Concentration: Moderate concentration, with the top 3 exports (HS 08, 74, 71) accounting for 46.2% of total exports.

Peru Import Profile: What Does Peru Buy from United States

• Top Commodity: Rank #1 import is HS 27 (Mineral fuels, oils) at 49.55% of total imports from the U.S.
• Dependency Nature: Reflects energy security dependency, likely for refined petroleum products or liquefied natural gas.

Peru - United States Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Peru exports agricultural/mineral commodities (HS 08, 26, 74) and imports energy (HS 27) and machinery (HS 84, 85).
• Value Chain Position: The U.S. holds the higher value-add position, supplying advanced machinery (HS 84, 85) and pharmaceuticals (HS 30), while Peru provides raw materials.

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

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

Check Detailed Peru-United States Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast for Peru - United States Trade

Peru’s trade with the U.S. is expected to remain stable in the near term, with modest growth potential in key commodity sectors. The flat YoY trend in 2024 suggests equilibrium, but the surge in exports during Q3—particularly in edible fruits and nuts (HS 08)—indicates latent demand that could be harnessed. However, volatility in energy imports (HS 27) and machinery (HS 84, 85) may require careful monitoring, as erratic U.S. supply could disrupt Peru’s industrial and consumer markets. If current patterns hold, the trade deficit will persist but remain manageable, with opportunities to narrow it through targeted export expansion.

Strategic Moves for Traders & Policymakers

• Lock in Agri-Export Contracts: With U.S. demand for Peruvian fruits and nuts steady, exporters should secure long-term agreements to stabilize revenue and mitigate price fluctuations.
• Diversify Energy Suppliers: Given Peru’s heavy reliance on U.S. mineral fuels (HS 27), importers must explore alternative suppliers or invest in domestic energy infrastructure to reduce vulnerability to price swings.
• Push High-Value Niche Exports: Peru should capitalize on its mineral (HS 26, 74) and agricultural strengths by marketing premium products (e.g., organic quinoa, specialty metals) to offset the trade deficit and climb the value chain.

Frequently Asked Questions

How did Peru - United States trade perform in 2024 Whole Year?

Peru's exports to the U.S. totaled $9.58B, while imports reached $10.00B, showing stable YoY growth (0.0% for both).

What are the top exports from Peru to United States?

Peru's top exports to the U.S. include edible fruits & nuts (HS 08), mineral fuels (HS 27), and copper (HS 74), accounting for 46.2% of total exports.

What does Peru import from United States?

Peru primarily imports mineral fuels & oils (HS 27) from the U.S., making up 49.55% of total imports, alongside machinery (HS 84, 85).

What is the trade balance between Peru and United States?

Peru had a trade deficit of $420M with the U.S. in 2024, remaining a net importer with a narrow gap.