Peru Exports Surge 33.5% to US$27 Billion in First Quarter 2026

Peru’s exports surged 33.5% year-on-year to a record $27.217 billion in the first quarter of 2026, powered by rising international prices for copper and gold and a 49% leap in mineral shipments to $19.897 billion, according to the Ministry of Foreign Trade and Tourism (Mincetur).

Mining anchored the gain, with copper exports up 38%, gold up 68%, silver concentrates up 89%, lead up 204% and zinc up 43%, while fishery shipments rose 21.5% to $1.476 billion, agriculture grew 7.2% to $3.067 billion and forestry climbed 22.3% to $17 million.

Peru exported to 152 markets during the quarter, with China at $10.748 billion (+43%), United States $2.878 billion (+24.1%), India $2.928 billion (+300%) and the European Union $2.238 billion (+9.8%) leading destinations.

Key Points

Mining Drives the Rebound

The Rio Times, the Latin American financial news outlet, reports that Mincetur figures show traditional exports (mining, oil and gas, fisheries, agriculture commodities) reaching $21.832 billion (+43.8%) and capturing 80.2% of the total, while non-traditional exports posted $5.384 billion (+3.4%), or 19.8% of the total. The mineral sector alone delivered $19.897 billion, lifted by 49% versus Q1 2025 thanks to international price strength rather than only volume gains. Within mining, lead (+204%) and silver concentrates (+89%) showed the most extreme moves, while copper (+38%) and gold (+68%) provided the bulk of the dollar gains.

Non-Traditional Mixed

The non-traditional sector was uneven: agro-industry led with $2.762 billion (+4.9% YoY) on grapes and blueberries, followed by chemicals, non-traditional fisheries and steel-metallurgy. However, 7 of 15 non-traditional sectors registered declines, including jewelry (-81.7%), metalworking (-28%), apparel (-9.1%), non-metallic mining (-6.7%) and textiles (-6.2%). The drop reflects external demand softness in light manufactures and competitive pressure from Asian textile exporters, even as the commodities cycle pulls the headline number sharply higher.

Markets and Exporter Base

Peru shipped goods to 152 international markets in the quarter, with China, the United States and the European Union collectively accounting for 61% of demand. China alone bought $10.748 billion (+43% YoY) and India jumped to $2.928 billion (+300%), while Canada took $1.439 billion (+45%), Switzerland $861 million (+30%) and Japan $885 million (+1.6%). Exporter numbers rose 3.9% to 6,052 firms in Q1 (62% small businesses), building on the 2025 full-year record of 9,947 exporters and reinforcing a steadily widening base.

$100 Billion Annual Target

Foreign Trade Minister José Fernando Reyes Llanos framed the figures as on track to a $100 billion full-year export target by end-2026, with China, the United States and the European Union remaining the central destinations. The quarterly pace marks Peru’s strongest start to any year and outperforms 2025 Q1’s $20.389 billion, putting the country on the same upward macro path as Chile’s $39.772 billion January-April exports. The figures reinforce the Mincetur entrevista about Peru’s macroeconomic management contributing to a 2025 reduction in monetary poverty.

Connected Coverage

For the LATAM trade context see our coverage of Chile’s $70 billion four-month trade record and Brazil’s April 2026 record monthly exports.

What to Watch

• Copper and gold: Price momentum into Q2 will determine if the 49% mining gain sustains.
• Mincetur target: $100 billion full-year goal needs Q2-Q4 to average above $24 billion per quarter.
• Non-traditional pivot: Apparel and metalworking declines test diversification beyond commodities.

More: Latin America news in English, every day from The Rio Times.

Frequently Asked Questions

How big was Peru’s Q1 2026 export growth?

Peru’s exports reached $27.217 billion in the first quarter of 2026, a 33.5% rise year-on-year and the strongest start to any year on record, according to Mincetur and the ADEX research center (CIEN-ADEX). The Q1 2025 baseline was $20.389 billion, meaning the country added almost $7 billion in three months, driven mainly by higher international prices for copper and gold (Peru’s two main mineral exports), combined with steady volume in fisheries, agriculture and forestry. Traditional exports captured 80.2% of the total and non-traditional 19.8%.

Which sectors led the rise?

Mining led with $19.897 billion (+49% YoY), driven by lead (+204%), silver concentrates (+89%), gold (+68%), zinc (+43%) and copper (+38%). Fisheries rose 21.5% to $1.476 billion, agriculture 7.2% to $3.067 billion and forestry 22.3% to $17 million. Non-traditional exports were mixed: agro-industry added $2.762 billion (+4.9%) on grapes and blueberries, while 7 of 15 non-traditional sectors fell, including jewelry (-81.7%), metalworking (-28%), apparel (-9.1%) and textiles (-6.2%).

Where did Peru ship to?

Peru shipped to 152 international markets in Q1, with China, India and the United States together taking 61% of demand: China bought $10.748 billion (+43%), the United States $2.878 billion (+24.1%) and the European Union $2.238 billion (+9.8%). India jumped to $2.928 billion (+300%), Canada to $1.439 billion (+45%), Switzerland to $861 million (+30%) and Japan to $885 million (+1.6%). The geographic spread shows Peru’s commodity diversification beyond the dominant China copper relationship.

What is Mincetur’s full-year target?

Foreign Trade Minister José Fernando Reyes Llanos has set a target of $100 billion in full-year exports by end-2026, building on the Q1 pace of $27.217 billion. Reaching that goal would require Q2-Q4 to average above $24 billion per quarter, supported by sustained mineral prices and broader exporter participation, with the 6,052 exporting firms in Q1 (+3.9% YoY) including 62% small and micro businesses and building on the record 9,947 exporters registered in full-year 2025. Mincetur frames the figures as the basis for continued macroeconomic resilience.

Updated: 2026-05-11T09:00:00Z by Rio Times Editorial Desk