Peru - United States Trade 2024 Q2: Resource-for-Tech Exchange
Key Market Takeaways: Peru - United States Trade
The bilateral trade relationship between Peru and United States remains stable but volatile in Q2 2024.
- $4.33B total trade volume with a $770M deficit for Peru, as U.S. imports ($2.55B) outpace Peruvian exports ($1.78B). Flat YoY growth masks monthly swings in both directions.
- Resource-for-Tech exchange: Peru - United States trade statistics show copper (13% of exports) and minerals flow north, while oil (52% of imports) and machinery anchor U.S. shipments south.
- Asymmetric interdependence: Peru relies on U.S. energy and industrial inputs, while the U.S. secures raw materials—a classic emerging/advanced economy pairing.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Peru-United States Trade Trend in Q2 2024
Peru Export Performance: Shipments to United States
- Total Volume: $1.78B in Q2 2024.
- Growth Trend & Context: YoY growth flat (0.0% across all months). No significant policy or external events to explain the trend.
- Key Volatility: May saw a sharp 19.43% MoM surge, followed by a slight -2.24% dip in June.
Peru Import Performance: Sourcing from United States
- Total Volume: $2.55B in Q2 2024.
- Growth Trend & Context: YoY growth flat (0.0%). No news to contextualize the trend.
- Key Volatility: May spiked 11.15% MoM, but June dropped -11.81%, indicating potential demand volatility.
Peru - United States Trade Balance & Market Dynamics
- Net Position: Trade deficit of $770M (Imports $2.55B > Exports $1.78B).
- Relationship Status: Peru remains a net importer from the U.S., with imports 43% higher than exports in Q2.
Peru Import Trend from United States 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 826.13M | 4.69% | 0.0% |
| May | 918.27M | 11.15% | 0.0% |
| Jun | 809.86M | -11.81% | 0.0% |
| Total | 2.55B | - | - |
Peru Export Trend to United States 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 528.96M | 0.84% | 0.0% |
| May | 631.76M | 19.43% | 0.0% |
| Jun | 617.63M | -2.24% | 0.0% |
| Total | 1.78B | - | - |
Get Historical Peru United States Trade Records
Peru-United States Top Trading Products in Q2 2024
Peru Export Profile: What Does Peru Sell to United States
- Top Commodity: Copper (HS 74) dominates with 12.67% share.
- Demand Driver: United States imports raw materials (copper, ores, agricultural goods) for industrial processing and consumer markets.
- Concentration: No single category exceeds 50%, but metals (HS 74, 26, 80) collectively account for 26% of exports.
Peru Import Profile: What Does Peru Buy from United States
- Top Commodity: Mineral fuels (HS 27) lead at 52.15% share.
- Dependency Nature: Energy security dependency, with over half of imports being oil or related products. Machinery (HS 84) and plastics (HS 39) follow, indicating industrial supply chain needs.
Peru - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw materials (copper, agricultural goods) and imports energy and machinery.
- Value Chain Position: United States holds higher value-add, supplying advanced goods (HS 84, 85, 90) while Peru provides commodities.
Import Analysis by Product: United States to Peru (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 1.33B | 52.15% |
| 84 | 255.43M | 10.00% |
| 39 | 116.33M | 4.55% |
| 87 | 82.89M | 3.25% |
| 72 | 69.65M | 2.73% |
| 85 | 63.65M | 2.49% |
| 90 | 53.92M | 2.11% |
| 38 | 50.27M | 1.97% |
| 40 | 43.64M | 1.71% |
| 73 | 37.71M | 1.48% |
Export Analysis by Product: Peru to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 74 | 225.33M | 12.67% |
| 61 | 194.98M | 10.96% |
| 71 | 191.87M | 10.79% |
| 08 | 185.15M | 10.41% |
| 26 | 142.44M | 8.01% |
| 80 | 94.68M | 5.32% |
| 25 | 80.63M | 4.53% |
| 27 | 78.61M | 4.42% |
| 07 | 63.64M | 3.58% |
| 09 | 58.82M | 3.31% |
Check Detailed Peru-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Peru - United States Trade
Peru’s trade with the United States is expected to remain stable in the near term, with muted growth due to flat YoY trends in both exports and imports. However, the volatility in monthly figures—particularly the sharp swings in May and June—suggests underlying demand shifts, especially for energy imports (HS 27) and industrial metals (HS 74). Given the structural complementarity (resources-for-tech), any uptick in U.S. industrial activity or energy demand could revive trade momentum. Traders should monitor U.S. economic indicators, such as manufacturing PMI and energy consumption data, for early signals of directional shifts.
Strategic Moves for Peruvian Stakeholders
- Lock in Energy Supply Contracts: With mineral fuels (HS 27) dominating imports, Peruvian buyers should negotiate long-term agreements to hedge against price volatility and secure stable energy inflows.
- Diversify Export Markets for Metals: While copper (HS 74) remains a key export, overreliance on U.S. demand poses risks. Exporters must target emerging Asian markets to mitigate exposure to a single buyer.
- Boost Value-Added Exports: Peru’s reliance on raw material exports (HS 26, 74, 80) leaves it vulnerable to commodity cycles. Invest in downstream processing—e.g., refined copper or manufactured metal goods—to capture higher margins and reduce trade deficit pressure.
Frequently Asked Questions
How did Peru - United States trade perform in 2024 Q2?
Peru's exports to the U.S. totaled $1.78B, while imports reached $2.55B in Q2 2024, with both showing flat YoY growth (0.0%).
What are the top exports from Peru to United States?
Copper (HS 74) is the top export, followed by ores and agricultural goods, with metals collectively accounting for 26% of exports.
What does Peru import from United States?
Mineral fuels (HS 27) dominate imports at 52.15%, alongside machinery (HS 84) and plastics (HS 39), reflecting energy and industrial supply chain needs.
What is the trade balance between Peru and United States?
Peru recorded a trade deficit of $770M in Q2 2024, with imports 43% higher than exports.
Peru - United States Trade 2024 Q1: Resource-Tech Exchange
Peru's trade deficit with the U.S. hits $290M in Q1 2024, driven by resource-for-tech exchange. Explore Peru United States trade trends and top trading products via yTrade data.
Peru - United States Trade 2024 Q3: Balanced Resource-Tech Exchange
Peru's trade with the U.S. shows a balanced $5.28B exchange, with Peru's fruits and metals meeting U.S. demand while importing energy. Explore Peru-United States trade trends on yTrade.
