Peru - United States Trade 2024 Q3: Balanced Resource-Tech Exchange
Key Market Takeaways: Peru - United States Trade
The bilateral trade relationship between Peru and United States remains stable with balanced volumes but marginal deficit in Q3 2024.
- $5.28B total trade with a $100M deficit for Peru, reflecting near-equilibrium but slight reliance on U.S. goods.
- Resource-for-Tech exchange: Peru’s top exports (fruits, metals) meet U.S. consumer demand, while 51% of imports are U.S. energy products (HS 27), highlighting Peru - United States trade statistics.
- Complementary dependency: Peru supplies raw materials; the U.S. dominates high-value fuels and machinery, locking in mutual reliance.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Peru-United States Trade Trend in Q3 2024
Peru Export Performance: Shipments to United States
- Total Volume: $2.59B in Q3 2024.
- Growth Trend & Context: YoY growth flat (0.0% across all months). No significant policy or external events to explain trends.
- Key Volatility: July saw a sharp MoM surge (+39.86%), followed by a minor dip in August (-2.66%) and a modest recovery in September (+4.72%).
Peru Import Performance: Sourcing from United States
- Total Volume: $2.69B in Q3 2024.
- Growth Trend & Context: YoY growth flat (0.0%). No news-driven disruptions noted.
- Key Volatility: Steep MoM drop in September (-19.01%) after a July peak ($993.87M). August imports fell -5.57% MoM.
Peru - United States Trade Balance & Market Dynamics
- Net Position: Trade deficit of $100M (Imports $2.69B > Exports $2.59B).
- Relationship Status: Marginal deficit suggests balanced trade, with Peru slightly more reliant on U.S. goods. No structural imbalances evident.
Peru Import Trend from United States 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 993.87M | 22.72% | 0.0% |
| Aug | 938.53M | -5.57% | 0.0% |
| Sep | 760.09M | -19.01% | 0.0% |
| Total | 2.69B | - | - |
Peru Export Trend to United States 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 863.85M | 39.86% | 0.0% |
| Aug | 840.89M | -2.66% | 0.0% |
| Sep | 880.62M | 4.72% | 0.0% |
| Total | 2.59B | - | - |
Get Historical Peru United States Trade Records
Peru-United States Top Trading Products in Q3 2024
Peru Export Profile: What Does Peru Sell to United States
- Top Commodity: Rank #1 export is HS Code 08 (Edible fruit and nuts) at 21.62% share.
- Demand Driver: United States imports these primarily for its consumer market, reflecting demand for fresh produce and specialty foods.
- Concentration: No single category dominates (>50%), but the top 3 exports (HS 08, 74, 71) collectively account for 42.14%, indicating moderate concentration.
Peru Import Profile: What Does Peru Buy from United States
- Top Commodity: Rank #1 import is HS Code 27 (Mineral fuels, oils) at 51.45% share.
- Dependency Nature: Reflects energy security dependency, as Peru relies on the US for refined petroleum products.
Peru - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Peru exports raw materials (fruits, metals, gems) and imports energy and machinery (HS 27, 84).
- Value Chain Position: The US holds the higher value-add position, supplying processed fuels (HS 27) and industrial machinery (HS 84), while Peru provides lower-value primary goods.
Import Analysis by Product: United States to Peru (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 1.39B | 51.45% |
| 84 | 257.13M | 9.55% |
| 87 | 132.74M | 4.93% |
| 39 | 131.45M | 4.88% |
| 72 | 95.16M | 3.53% |
| 85 | 71.48M | 2.65% |
| 90 | 57.09M | 2.12% |
| 38 | 51.19M | 1.90% |
| 40 | 45.04M | 1.67% |
| 30 | 39.77M | 1.48% |
Export Analysis by Product: Peru to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 08 | 558.93M | 21.62% |
| 74 | 302.35M | 11.69% |
| 71 | 228.22M | 8.83% |
| 61 | 196.34M | 7.59% |
| 09 | 166.57M | 6.44% |
| 07 | 139.39M | 5.39% |
| 26 | 123.88M | 4.79% |
| 27 | 107.65M | 4.16% |
| 25 | 99.78M | 3.86% |
| 20 | 99.17M | 3.84% |
Check Detailed Peru-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Peru - United States Trade
The Peru - United States trade relationship is expected to remain stable in the near term, with modest growth potential. Flat YoY trends in Q3 2024 suggest a period of consolidation, but the complementary nature of trade—Peru’s raw materials for U.S. energy and machinery—provides a resilient foundation. Volatility in monthly figures, particularly in energy imports (HS 27), indicates potential price sensitivity, so traders should monitor fuel markets closely. Over the next year, demand for Peruvian fruits (HS 08) and metals (HS 74, 71) in the U.S. consumer market could drive gradual export growth if supply chain efficiencies improve.
Strategic Moves for Traders & Policymakers
- Lock in Energy Supply Contracts: Given Peru’s heavy reliance on U.S. mineral fuels (HS 27), importers should negotiate long-term agreements to hedge against price swings and ensure stable energy supply.
- Diversify Export Markets for Key Goods: Peruvian exporters of edible fruits (HS 08) and metals should explore new markets to reduce overreliance on U.S. demand, mitigating risks from any future trade policy shifts.
- Invest in Value-Added Processing: To move up the value chain, Peru should prioritize domestic refining (for metals) and food processing (for fruits), reducing dependency on U.S. machinery (HS 84) and capturing higher margins.
Frequently Asked Questions
How did Peru - United States trade perform in 2024 Q3?
Peru's exports to the US totaled $2.59B, while imports from the US reached $2.69B in Q3 2024, with both showing flat YoY growth (0.0%).
What are the top exports from Peru to United States?
Peru's top exports to the US include edible fruit and nuts (HS Code 08), metals (HS Code 74), and gems (HS Code 71), accounting for 42.14% of total exports.
What does Peru import from United States?
Peru primarily imports mineral fuels and oils (HS Code 27) from the US, making up 51.45% of total imports, reflecting energy security dependency.
What is the trade balance between Peru and United States?
Peru recorded a trade deficit of $100M with the US in Q3 2024, indicating a slightly higher reliance on US goods.
Peru - United States Trade 2024 Q2: Resource-for-Tech Exchange
Peru's trade deficit with the U.S. hits $770M in Q2 2024, driven by copper exports and oil imports. Explore Peru United States trade trends and top trading products via yTrade data.
Peru - United States Trade 2024 Q4: $760M Surplus
Peru's $760M trade surplus with the U.S. in Q4 2024 highlights stable Peru United States trade trends, driven by fruits/nuts exports and energy imports. Data via yTrade.
