Peru's Trade Profile: Minerals Out, Machinery In
Peru is a mining superpower — the world's #2 copper, #2 silver, #6 gold producer. Trade reflects extractive dominance.
Exports (2023 ~$63B)
| Product | Share | Key Markets |
|---|
| Copper (ore & cathode) | 28% | China, Japan, South Korea |
| Gold | 15% | Canada, Switzerland, India, USA |
| Zinc | 6% | China, Belgium, South Korea |
| Lead | 3% | China, South Korea |
| Silver | 3% | USA, India, Japan |
| Iron ore | 2% | China |
| Natural gas (LNG) | 4% | Mexico, Chile |
| Agro: grapes, blueberries, avocado, coffee, asparagus | 12% | USA, EU, China |
| Fishmeal/fish oil | 3% | China, Japan |
Imports (2023 ~$53B)
| Category | Examples | Sources |
|---|
| Machinery & equipment | Mining, construction, industrial | China, USA, Brazil, Germany |
| Vehicles & parts | Light trucks, SUVs, components | Japan, Mexico, USA, Thailand |
| Chemicals | Plastics, fertilizers, pharma inputs | China, USA, Brazil, Argentina |
| Petroleum products | Diesel, gasoline, LPG | USA, Ecuador, Colombia |
| Cereals | Wheat, corn, rice | Argentina, USA, Canada |
| Iron & steel | Flat/long products | China, Brazil, Argentina |
Trade Agreements
22 FTAs — including US, EU, China, CPTPP (2021), Pacific Alliance. Tariff-free on 95%+ lines.
Vulnerability
Commodity concentration (minerals 60%+ exports) → terms-of-trade shocks. Diversification (agro, services, manufacturing) is the 2030 policy goal.
Wanderlust World