US Exports to Peru Soar in 2008

Iron & Steel Supplies Among Fastest-Growing Peruvian Imports

Mar 16, 2009
Daniel Workman

Church in Cusco, Peru - kaconnors@yahoo.com (morguefile)

Last year, America helped Peru to continue building its infrastructure via exports ranging from excavating machinery, computers, telecommunications to railway equipment.

With a population of 29.2 million, Peru is the fourth-largest South American country trailing only Brazil, Colombia and Argentina.

Peru grew its annual imports from America by 50.1% to US$6.2 billion in 2008, up 194.3% since 2004. Peruvian exports to America rose 11.1% last year to $5.9 billion, a 58.2% increase from the 2004 amount.

Overall, the U.S. achieved a $327.9 million surplus in its trade with Peru last year. Results from 2008 represent a dramatic improvement from America’s $1.2-billion trade deficit with Peru in 2007 and the $1.6-billion deficit in 2004.

Top Exports from America to Peru

Below are the top ten goods imported from the USA into Peru for 2008.

Fuel oil … US$1.1 billion, up 154.3% from 2007 (17.3% of American imported goods)
Plastic materials … $451.2 million, up 19.7% (7.3%)
Excavating machinery … $359.4 million, up 58.2% (5.8%)
Other industrial machines … $213.7 million, up 54.2% (3.5%)
Computer accessories … $208.5 million, up 66.1% (3.4%)
Computers … $200.7 million, up 53.8% (3.2%)
Drilling & oilfield equipment … $178.2 million, up 51.6% (2.9%)
Industrial engines … $172.4 million, up 42.4% (2.8%)
Telecommunications equipment … $170.4 million, up 66% (2.8%)
Organic chemicals … $167.6 million, up 12.2% (2.7%).

Fastest-Growing American Exports to Peru

The following are 10 of the fastest-growing Peruvian imports from the U.S. last year.

Steelmaking materials … US$64 million, up 8,530% from 2007
Soybeans … $12.7 million, up 324.2%
Iron & steel mill products … $120.5 million, up 288.4%
Railway transportation equipment … $25.5 million, up 249.8%
Fuel oil … $1.1 billion, up 154.3%
Generators & accessories … $127 million, up 146%
Pulp & paper machinery … $33.2 million, up 117.1%
Wood, glass & plastic … $24.9 million, up 113%
Semiconductors … $16.4 million, up 100.5%
New & used passenger cars … $57.5 million, up 97.7%.

Peru’s Top Exports to America

The top 10 commodities that the U.S. imports from Peru include raw materials, food and coffee.

Copper … US$844.8 million, down 13.8% from 2007 (14.4% of Peruvian exports to USA)
Cotton apparel & household goods … $723.9 million, down 3.5% (12.4%)
Other precious metals … $620.4 million, up 41.9% (10.6%)
Other petroleum products … $605.9 million, up 35.5% (10.3%)
Vegetables & preparations … $381 million, up 15.7% (6.5%)
Tin … $366 million, up 39.6% (6.3%)
Crude oil … $357.9 million, up 125.2% (6.1%)
Non-monetary gold … $344.5 million, down 21.5% (5.9%)
Fuel oil … $290 million, up 4% (5%)
Green coffee … $168.8 million, up 23.2% (2.9%).

Fastest-Growing Peruvian Exports to America

The leading growth exports into the U.S. from Peru are mostly raw materials, with a variety intermediary products ranging from tea to fabrics.

Industrial inorganic chemicals … US$21.8 million, up 342.2% from 2007
Unmanufactured steelmaking & ferroalloying materials … $133.3 million, up 150.2%
Crude oil … $357.9 million, up 125.2%
Plastic materials … $11.3 million, up 63.3%
Tea, spices & preparations … $62.8 million, up 45.5%
Wool, silk, cloth, fabric, threads … $12.2 million, up 43.2%
Other precious metals … $620.4 million, up 41.9%
Fruits & preparations like frozen juices … $105.6 million, up 40.2%
Tobacco, waxes & non-food oils … $50.4 million, up 37.4%
Other petroleum products … $605.9 million, up 35.5%.