The trade relationship between the United States and Peru is a dynamic and strategic partnership that continues to support economic growth and stability for both nations. This alliance was solidified with the United States–Peru Trade Promotion Agreement (PTPA), signed on April 12, 2006, and officially entering into force on February 1, 2009. Since then, the PTPA has significantly enhanced trade liberalization, removed tariffs on most goods, and opened new markets for U.S. and Peruvian businesses alike.
2024 Trade Overview
In 2024, total U.S. goods trade with Peru reached $20.6 billion, reflecting the strength of ongoing bilateral commerce. Here’s how the numbers break down:
U.S. exports to Peru: $11.2 billion (↓ 5.4% from 2023)
U.S. imports from Peru: $9.4 billion (↑ 7.2% from 2023)
U.S. trade surplus: $1.9 billion (↓ 40.5% from 2023)
While exports to Peru saw a slight decline, imports rose notably, narrowing the U.S. trade surplus significantly. This shift illustrates growing Peruvian competitiveness in global markets and highlights the evolving nature of the trade relationship.
Top U.S. Exports to Peru
The U.S. continues to supply Peru with a wide array of goods critical to its infrastructure, agriculture, and consumer markets. Leading U.S. exports in 2024 included:
- Industrial machinery
- Electrical machinery
- Vehicles and automotive parts
- Medical instruments and equipment
- Agricultural products, including wheat, corn, and soybeans
U.S. exports support sectors across Peru, from energy to healthcare, underscoring the importance of high-quality American goods in Peru’s development.
Top U.S. Imports from Peru
Peru remains a vital supplier of natural resources and agricultural products to the U.S. The top imports in 2024 included:
- Precious metals, especially gold and silver
- Copper and other base metals
- Fresh fruits, such as blueberries, grapes, and avocados
- Coffee and other specialty agriculture
- Apparel and textiles
These imports support diverse U.S. industries, from technology and manufacturing to foodservice and retail.
What This Means for Businesses?
With a solid trade framework in place thanks to the PTPA, both U.S. and Peruvian businesses benefit from tariff reductions, enhanced legal protections, and more efficient customs procedures. This agreement creates opportunities for importers and exporters to expand into new markets with confidence.
Whether you’re shipping high-tech machinery or sourcing high-quality agricultural products, the U.S.–Peru trade corridor offers tremendous potential.
How GLC Can Help
At GLC, we specialize in managing imports and exports between the United States and Latin America, including Peru. Our experienced team ensures your cargo moves compliantly, quickly, and cost-effectively.
Need help with your U.S.–Peru shipments?
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