The largest Export From Peru – GARUTTRADING.COM

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In 2024, Peru achieved a historic export milestone, reaching a total of USD 74.664 billion, marking a 15.6% increase from the previous year. This growth was propelled by robust performances across various sectors, including mining, agriculture, and metallurgy.AméricaEconomía+5FreshPlaza+5Andina+5

🇵🇪 Top 10 Exports from Peru in 2024

According to data from the World’s Top Exports, the leading export categories from Peru in 2024 were:World’s Top Exports

Ores, Slag, and Ash – USD 29.4 billion (39.3% of total exports)
Gems, Precious Metals – USD 13.2 billion (17.7%)
Fruits, Nuts – USD 6.5 billion (8.7%)
Mineral Fuels Including Oil – USD 4.4 billion (5.9%)
Copper – USD 3.7 billion (4.9%)
Food Industry Waste, Animal Fodder – USD 1.9 billion (2.5%)
Coffee, Tea, Spices – USD 1.4 billion (1.9%)
Cocoa – USD 1.3 billion (1.7%)
Knit or Crochet Clothing, Accessories – USD 1.12 billion (1.5%)
Fish – USD 1.07 billion (1.4%) World’s Top Exports

These top 10 categories collectively accounted for 85.6% of Peru’s total export value in 2024.World’s Top Exports

📈 Key Sector Highlights

Mining Sector: The metallurgical sector experienced a 36% increase, driven by global demand for metals like gold and copper. The Rio Times+1AméricaEconomía+1
Agriculture: Non-traditional agricultural exports rose by 11.3%, totaling USD 20.6 billion, with significant growth in products like blueberries, avocados, and grapes. perusupportgroup.org.uk+2Perú Info+2FreshPlaza+2
Fishing: The fishing sector saw a 24% increase, reflecting a recovery from previous challenges. AméricaEconomía

🌍 Top Export Destinations

Peru’s exports reached 178 markets in 2024, with record shipments to 29 destinations, including:Andina

China: USD 25.2 billion (34% of total exports)
United States: USD 9.5 billion (13%)
European Union: USD 8.2 billion (11%)
India: USD 4.7 billion (6%)
Canada: USD 3.7 billion (5%) Andina

🔮 Outlook for 2025

Peru’s export diversification and strong performance across key sectors position it well for continued growth in 2025. Ongoing investments in mining, agriculture, and infrastructure are expected to further enhance its global trade presence.

In 2024, Peru’s export of ores, slag, and ash reached a historic high, totaling USD 29.4 billion, accounting for approximately 39.3% of the nation’s total exports. This category encompasses a variety of mineral products, including copper and gold ores, iron and zinc concentrates, and other mining by-products.World’s Top Exports

🔝 Key Export Products in the Ores, Slag, and Ash Category

Copper Ores and Concentrates: These remain Peru’s most significant export within this category, constituting about 27.7% of total exports. World’s Top Exports
Gold (Unwrought or Semi-Manufactured): Gold exports have seen substantial growth, increasing by 52.5% in value from 2023 to 2024. World’s Top Exports
Iron and Zinc Ores: Both of these ores are integral to Peru’s mining sector, contributing significantly to the country’s export revenues.

🌍 Top Export Destinations for Ores, Slag, and Ash

In 2023, Peru’s primary markets for these exports included:The Observatory of Economic Complexity+2Tendata+2Secretaría de Economía+2

China: Dominated the market with 73% of total exports in this category, valued at approximately USD 19.7 billion. TrendEconomy
Japan: Received about 5.24% of these exports, equating to USD 1.41 billion.
South Korea: Imported 5.17%, or USD 1.39 billion.
United States: Accounted for 2.12%, approximately USD 572 million.TrendEconomy
Germany: Imported 1.83%, or USD 495 million.TrendEconomy

Other notable markets included Spain, Chile, India, Brazil, and Canada. TrendEconomy

📊 Global Context

Peru ranks as the fourth-largest exporter of ores, slag, and ash globally, following Australia, Brazil, and Chile. The country’s mining sector is a cornerstone of its economy, with mineral exports representing over 61% of total exports in 2023. TrendEconomyWikipedia

🔝 Key Export Products in the Ores, Slag, and Ash Category

Copper Ores and Concentrates: These remain Peru’s most significant export within this category, constituting about 27.7% of total exports. World’s Top Exports
Gold (Unwrought or Semi-Manufactured): Gold exports have seen substantial growth, increasing by 52.5% in value from 2023 to 2024. World’s Top Exports
Iron and Zinc Ores: Both of these ores are integral to Peru’s mining sector, contributing significantly to the country’s export revenues.

🌍 Top Export Destinations for Ores, Slag, and Ash

In 2023, Peru’s primary markets for these exports included:The Observatory of Economic Complexity+2Tendata+2Secretaría de Economía+2

China: Dominated the market with 73% of total exports in this category, valued at approximately USD 19.7 billion. TrendEconomy
Japan: Received about 5.24% of these exports, equating to USD 1.41 billion.
South Korea: Imported 5.17%, or USD 1.39 billion.
United States: Accounted for 2.12%, approximately USD 572 million.TrendEconomy
Germany: Imported 1.83%, or USD 495 million.TrendEconomy

Other notable markets included Spain, Chile, India, Brazil, and Canada. TrendEconomy

📊 Global Context

In 2024, gems and precious metals emerged as a significant export category for Peru, reflecting the country’s robust mining sector and global demand for its mineral resources.

📊 Export Overview

Total Export Value: Approximately $8.68 billion, accounting for 13.49% of Peru’s total exports. Tendata
Growth: This category experienced a 52.5% increase in export value compared to 2023, driven by higher revenues from gold exports. World’s Top Exports

💰 Key Export Products

Gold: Continued to be the dominant contributor, with significant increases in both price and volume. perusupportgroup.org.uk
Silver: Maintained a strong presence in the export market, benefiting from steady industrial demand.
Platinum Group Metals (PGMs): Saw a rise in exports, particularly to markets requiring these metals for industrial applications.

🌍 Top Export Destinations

China: Remained the largest importer of Peruvian precious metals, accounting for a significant share of exports.
United States: Continued to be a major destination, with exports of pearls, precious stones, metals, and coins valued at approximately $1.12 billion in 2023. Trading Economics
India: Emerging as a key market, with gold exports projected to reach a record $3 billion in 2024, marking a 36% increase from the previous year. Reuters

🔮 Outlook for 2025

The outlook for Peru’s gems and precious metals exports remains positive, supported by:

Global Demand: Continued industrial and investment demand for gold and silver.
Market Diversification: Expanding trade relationships with emerging markets.
Investment in Mining: Ongoing projects and investments in the mining sector.

However, challenges such as illegal mining activities and political instability may impact sector growth. The Times

In 2024, fruits and nuts were significant contributors to Peru’s export economy, with total exports valued at approximately USD 6.5 billion, accounting for about 8.7% of the nation’s overall exports.

🍇 Key Export Fruits and Nuts

Blueberries: Peru solidified its position as a global leader in blueberry exports, with shipments reaching a record 254,406 metric tons, marking a 61% year-on-year increase. Produce Re,port
Avocados: The country continued to be one of the world’s top exporters of avocados, benefiting from strong demand in international markets.
Grapes: Peruvian grape production was forecasted to reach 790,000 metric tons in the 2024/2025 marketing year, with exports hitting a record 620,000 metric tons, a 17% increase from the previous year. FreshPlaza
Mangoes: Exports of fresh mangoes totaled USD 73 million in 2024, reflecting the fruit’s growing popularity in global markets.
Brazil Nuts: Peru’s exports of Brazil nuts amounted to USD 34.6 million between January and October 2024, marking a 29% increase compared to the same period in 2023. FreshFruitPortal.com

🌍 Major Export Destinations

Peruvian fruits and nuts were exported to over 143 markets, with significant demand from:FreshPlaza+1FreshPlaza+1

United States: Leading importer of fresh blueberries and grapes. FreshPlaza
Netherlands: A key destination for avocados and other fruits.
China: Increasing demand for blueberries and other fresh produce.
Spain and United Kingdom: Notable markets for various fruits, including grapes and avocados.

Emerging markets such as Malaysia, Indonesia, Hong Kong, Belgium, and Brazil also showed significant growth in importing Peruvian fruits like blueberries, grapes, cocoa, and frozen fruits. FreshPlaza

📈 Growth and Outlook

The non-traditional agricultural export sector in Peru experienced a 21.6% increase in 2024, totaling USD 11.553 billion, with fruits and vegetables accounting for 72% of this growth. FreshPlaza

Looking ahead, Peru’s diverse climate and advanced agricultural practices position it well to continue meeting global demand for high-quality fruits and nuts, with expectations of sustained growth in exports.

In 2024, mineral fuels including oil ranked as Peru’s fourth-largest export category, contributing approximately 5.9% to the nation’s total export value of $74.7 billion. World’s Top Exports

🔹 Export Value and Composition

Total Value: Around $4.4 billion.
Key Components:
- Petroleum oils and oils from bituminous minerals (not crude)
- Petroleum gases and other gaseous hydrocarbons
- Refined petroleum products

🔹 Export Destinations

Peru’s mineral fuels were primarily exported to:

United States: Approximately $394 million in 2022.
China: A significant importer of petroleum gases and other gaseous hydrocarbons.
Other Markets: Including Brazil, Argentina, and Mexico. Trading EconomicsTendataPangea Network

🔹 Domestic Production and Infrastructure

Peru’s domestic oil production is relatively modest compared to its mining sector. The country operates several refineries:Wikipedia

Petroperú: Manages five refineries, including the Talara Refinery, with a combined refining capacity of approximately 94,500 barrels per day, representing about 46% of the national refining capacity.
La Pampilla Refinery: Located in Callao, operated by Repsol, with a capacity of 117,000 barrels per day, accounting for 50% of the country’s refining production. WikipediaWikipedia

🔹 Challenges and Environmental Concerns

In December 2024, Peru faced an environmental setback with the Lobitos oil spill, which affected approximately 10,000 square meters of sea and a 10-kilometer stretch of coastline in the Piura region. The spill had significant ecological impacts, including harm to marine biodiversity and local fisheries. Wikipedia

In 2024, copper remained Peru’s most significant export, underscoring its central role in the nation’s economy and global mining industry.

🏆 Copper: Peru’s Top Export in 2024

Export Value: Approximately $23.45 billion, accounting for about 49% of the country’s total mining exports. The Rio Times+2dandan10.com+2perusupportgroup.org.uk+2
Global Ranking: Peru retained its position as the world’s second-largest copper producer, following Chile. Copperbelt Katanga Mining+5dandan10.com+5Mine+5

⚒️ Production and Market Dynamics

Total Output: Peru produced around 2.74 million metric tons of copper in 2024, marking a slight 0.7% decrease from the previous year. MINING.COM
Price vs. Volume: While export volumes dipped by 3.4%, a corresponding 3.4% increase in global copper prices helped maintain export revenues. perusupportgroup.org.uk

🌍 Key Export Destinations

China: Remained the largest importer of Peruvian copper.
United States: Continued as a significant market for Peru’s copper exports.
Japan and South Korea: Also among the top destinations for Peruvian copper.

🔮 Outlook and Future Developments

Looking ahead, Peru’s copper production is expected to remain relatively stable in the short term. However, several large-scale mining projects are in the pipeline, which could boost output in the coming years:

Tía María Project: Set to commence construction by late 2024 or early 2025, this project is projected to produce 120,000 tons of copper annually once operational. Reuters
Zafranal and La Granja Projects: These projects are expected to contribute significantly to Peru’s copper output in the latter part of the decade.

These developments aim to counteract the challenges posed by declining ore grades and to sustain Peru’s prominent position in the global copper market.Reuters+1Copperbelt Katanga Mining+1

In 2024, Peru’s exports of residues and wastes from the food industry, including animal fodder, experienced significant growth, highlighting the country’s expanding role in the global agricultural and feed markets.ReportLinker+10Trading Economics+10Trading Economics+10

📦 Export Performance in 2024

Total Export Value: Approximately $1.19 billion, accounting for 1.85% of Peru’s total exports. Tendata
Growth Rate: This category saw a 57.6% increase in export value compared to 2023, making it the second-fastest growing export sector after cocoa. World’s Top Exports

🌐 Key Export Destinations

Peru’s residues and animal fodder exports reached various international markets:Trading Economics+5Trading Economics+5Trading Economics+5

China: A major importer, with Peru exporting approximately $733.5 million worth of these products in 2023. Trading Economics
Germany: Received about $31.36 million in 2023. Trading Economics
United Kingdom: Imported around $100,000 in 2022. Trading Economics
France: Imported approximately $1.58 million in 2023. Trading Economics

🐄 Industry Outlook

The Peruvian animal feed industry is projected to continue its upward trajectory:ReportLinker

Export Volume: Expected to reach 367 million kilograms by 2028, up from 305 million kilograms in 2023, indicating an average annual growth rate of 2.9%. ReportLinker
Domestic Demand: An improved economic outlook is anticipated to boost the demand for valuable imported goods, including animal feed products. USDA Foreign Agricultural Service

Peru’s significant growth in exporting residues and animal fodder underscores its strengthening position in the global agricultural sector. The country’s strategic focus on expanding its agro-industrial capabilities is expected to sustain this positive trend in the coming years.

In 2024, Peru’s exports of coffee, tea, mate, and spices experienced notable growth, underscoring the country’s significant role in the global agricultural market.Trading Economics+1Tendata+1

📦 Export Performance in 2024

Total Export Value: Approximately $1.14 billion, accounting for about 1.77% of Peru’s total exports. Tendata
Coffee Exports:
- Volume: Peru exported 3.96 million 60-kg bags of coffee, marking a 16% increase compared to the previous year.
- Value: The value of coffee exports rose by 31%, totaling $1.084 billion. Stonex+1USDA Foreign Agricultural Service+1

🌍 Key Export Destinations

United States: Remained the top market for Peruvian coffee, accounting for 28% of total exports in the marketing year 2023/2024. USDA Foreign Agricultural Service+1USDA Foreign Agricultural Service+1
Other Notable Markets: While specific figures for tea and spices are limited, Peru’s exports in this category reached various international markets, contributing to the overall export value.

🌿 Industry Outlook

Peru’s agricultural sector, particularly in coffee and spices, is poised for continued growth:

Production Forecast: Coffee production is projected to reach 4.22 million 60-kg bags in the marketing year 2024/2025, a 7% increase from the previous year. USDA Foreign Agricultural Service+1USDA Foreign Agricultural Service+1
Spice Production: Peru’s spice production is expected to reach 53,000 metric tons by 2026, growing at an average annual rate of 0.3%. ReportLinker

Peru’s robust performance in exporting coffee, tea, mate, and spices in 2024 highlights its expanding influence in the global agricultural trade. With continued investments and favorable market conditions, the country is well-positioned to sustain and enhance its export growth in these sectors.

In 2024, Peru’s cocoa exports reached unprecedented levels, marking a significant milestone for the country’s agricultural sector.

📈 Export Performance

Export Value: Peru exported cocoa and its derivatives worth approximately USD 1.17 billion in 2024. Blueberries Consulting+1CropGPT 2.0+1
Growth Rate: This represents an increase of over 200% compared to the previous year, when exports were valued at USD 391 million. AméricaEconomía
Export Volume: The total exported quantity was 142,390 tonnes. camcafeperu.com.pe

🌍 Top Export Destinations

Peru’s cocoa exports were distributed across various international markets:

Spain: Accounted for 21% of exports.
United States: Comprised 16% of exports.
Malaysia: Made up 13% of exports.

Other significant markets included Indonesia and the Netherlands. UCC – Cargo & Logistic Solutions

💹 Market Dynamics

The surge in export value is largely attributed to a dramatic increase in global cocoa prices, which rose from around USD 3,000 to nearly USD 11,000 per tonne in 2024. AméricaEconomía

This price hike was driven by supply shortages in major producing countries like Côte d’Ivoire and Ghana.

🌱 Outlook

Peru’s cocoa sector is poised for continued growth, bolstered by its reputation for high-quality beans and the increasing global demand for cocoa products. The country’s diverse cocoa varieties and commitment to sustainable farming practices position it well to capitalize on emerging market opportunities

In 2024, Peru’s exports of knit or crochet clothing and accessories reached approximately USD 1.12 billion, positioning this category among the nation’s top 10 export sectors, accounting for about 1.5% of total exports .World’s Top Exports

📦 Export Performance in 2024

Export Value: USD 1.12 billion
Global Ranking: Among Peru’s top 10 export categories
Growth Trend: While there was a slight decline compared to previous years, the sector remains robust and competitive.Trading Economics+10AméricaEconomía+10Andina+10World Integrated Trade Solution

🌍 Top Export Destinations

Peru’s knitwear and accessories were primarily exported to:Tendata

United States: The largest importer, with imports worth USD 888.98 million in 2022 .
Canada, Brazil, Germany, and Chile: Also significant markets for Peruvian knitwear.World Integrated Trade Solution

🧵 Competitive Advantages

Peru’s knitwear industry benefits from several key strengths:

High-Quality Natural Fibers: The country is renowned for producing premium alpaca, vicuña, and Pima cotton, which are highly valued in the global fashion industry.
Blend of Tradition and Innovation: Peruvian textiles combine centuries-old techniques with modern design and technology, resulting in unique and high-quality products .
Sustainability: Many Peruvian manufacturers emphasize eco-friendly and ethical production methods, enhancing their appeal in international markets.

🔮 Outlook

With a strong international reputation for quality and craftsmanship, Peru is well-positioned to expand its global market share in knitwear and fashion accessories. Continued investment in sustainability, quality, and market development is key to long-term growth.

In 2024, Peru’s fishery exports experienced significant growth, reaching approximately USD 3.61 billion, marking a 23.6% increase compared to the previous year. Andina

📊 Key Export Figures

Total Fishery Exports: USD 3.61 billion (+23.6% year-over-year)
Fishmeal Exports: 885,000 tonnes in the first nine months of 2024, a substantial recovery from 460,000 tonnes in 2023.
Frozen Products: USD 1.565 billion, accounting for 54% of total fishery exports, with an 11.7% growth.
Canned and Semi-Preserved Products: 9.9% increase in export value.
Fresh Products: 8.2% growth in export value. FAOHomePerú Info

🌍 Top Export Destinations

Peru’s primary markets for fishery exports in 2024 included:

China: A leading importer, particularly of fishmeal.
United States
Spain
Chile
Japan
South Korea

These countries collectively accounted for a significant portion of Peru’s fishery export revenue. AméricaEconomía

🐟 Notable Export Products

Peru’s diverse marine ecosystem supports the export of various fishery products:

Anchovy: Primarily used for fishmeal production.
Mackerel and Horse Mackerel: Popular in canned and frozen forms.
Tuna: Exported both fresh and processed.
Scallops: Experienced a remarkable 98.4% increase in exports. Import Globals+1Perú Info+1Andina+1Andina+1

📈 Economic Impact

The robust performance of the fishing sector contributed significantly to Peru’s economy:Andina+2WEAREAQUACULTURE+2The Rio Times+2

GDP Growth: The fishing industry grew by 24.9%, bolstering the national GDP.
Export Revenue: Fishery exports played a crucial role in achieving Peru’s total export value of USD 74.7 billion in 2024, a 15.6% increase from the previous year. WEAREAQUACULTUREPerú Info+1FreshPlaza+1

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