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Current status of trade between Peru and China

The trade between Peru and China is characterized by continuous expansion in scale, complementary trade structure and strong growth momentum. China continues to maintain its position as Peru's largest trading partner. The specific situation is as follows:

The scale of trade continues to expand

According to the report of the Ministry of Foreign Trade and Tourism of Peru, the total trade volume between China and Peru in 2024 was US$39.758 billion, an increase of 10.9% year-on-year. In the first four months of 2025, the total bilateral trade volume between China and Peru reached US$15.334 billion, a significant increase of 31.8% over the same period last year, with a significant growth trend.

China is an important trading partner of Peru

Among Peru's global trading partners, China occupies an important position. In the first four months of 2025, China ranked first among Peru's trading partners with a share of 35%, followed by the United States (13%), the European Union (11%), India (6%) and Canada (5%). In the past 12 months, Peru's trade with China accounted for as much as 35% of its total foreign trade.

Complementary trade commodity structure

Peru mainly exports mineral products and agricultural products to China

In the first four months of 2025, Peru's exports to China reached US$9.954 billion, a year-on-year increase of 33.3%, of which silver concentrate and copper exports surged by 81.4% and 61.8% respectively, and fish meal exports increased by 40%. In 2024, Peru's total agricultural exports to China exceeded US$420 million, and avocados, grapes, blueberries, etc. became popular products in the Chinese market

China mainly exports electronic information equipment, steel products, vehicles and other industrial products to Peru. In the first four months of 2025, Peru's imports from China reached US$5.38 billion, a year-on-year increase of 29%, and steel products and vehicle imports increased by 36.5% and 43.5% respectively.

Trade surplus

Peru maintains a trade surplus in its trade with China. In the first four months of 2025, the trade surplus between China and Peru reached US$4.575 billion, mainly due to Peru's large exports of mineral products and agricultural products to China, further consolidating China's position as Peru's largest trading partner.

Policies help trade development

The continuous upgrading of the China-Peru Free Trade Agreement has promoted bilateral trade. At the 2024 APEC Summit, the two sides signed the "Protocol on Upgrading the Free Trade Agreement". 26 types of agricultural products from Peru will enter new foreign markets from 2025, and more small producers will participate, providing new opportunities for China-Peru agricultural cooperation. The Peruvian Chancay Port, invested and built by Chinese companies, opened in November 2024, shortening transportation time and costs, and providing a faster path for Peruvian agricultural products to be exported to China and Asian markets.