Peru Records 27.3% Export Growth in Q1 2025

According to the Association of Exporters (Adex), Peru’s exports reached USD 20.625 billion in the first quarter of 2025, marking a 27.3 percent gain over the same period last year.

The strong performance extended an eleven‐month run of year-on-year growth and produced a trade surplus of USD 6.062 billion, as imports totaled USD 14.563 billion.

Mining led the rebound, with shipments up 29.8 percent thanks to higher volumes and prices of copper and gold. These two commodities alone accounted for 51.7 percent of total exports.

Other traditional sectors also posted solid gains: hydrocarbons rose 21.1 percent, while traditional fisheries increased 51.6 percent on robust international demand. Value-added exports climbed 22.5 percent to USD 5.348 billion, representing 25.9 percent of overall shipments.

Processed agricultural products, textiles, and chemicals drove the non-traditional segment, reflecting ongoing efforts to diversify beyond raw materials. China remained the top destination, absorbing nearly half of all shipments.

The United Arab Emirates, Canada, Japan, and India followed. Exports to the United States and the European Union also grew, aided by free-trade agreements and rising industrial demand abroad.

Regionally, exporters from the Andes and Amazon outpaced those from the Lima-Callao corridor, with growth rates of nearly 29 percent versus 21 percent. Twenty-one of Peru’s twenty-five regions reported higher overseas sales, led by Huánuco, San Martín, and Apurímac.

Export Growth Driven by Microenterprises and Commodity Tailwinds

The number of exporting firms rose by 5.6 percent, with microenterprises accounting for most of the new entrants. Macroeconomic indicators suggest the expansion could persist.

BBVA Research notes that private consumption and public investment support rising imports of capital goods, while stronger U.S. and Chinese growth forecasts bolster commodity demand.

Fitch Solutions projects copper prices to reach USD 11,000 per tonne in 2025, up from USD 8,523 in 2023. Government plans to expand port capacity and improve logistics aim to sustain exports.

The Ministry of Foreign Trade and Tourism anticipates total shipments approaching a record USD 77 billion by year-end, contingent on stable global prices and further market diversification.

Peru’s reliance on its commodity sector underscores both its strength and vulnerability. While high metal prices fuel revenue gains today, exporters face risks from cyclical shifts and external policy changes. For now, however, first-quarter figures confirm Peru’s competitive edge in global markets.

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