Peru’s Export Surge to China Reshapes Trade Landscape in 2025

Official data from Peru’s Ministry of Foreign Trade and Tourism and the Association of Exporters show that Peru’s exports reached $20.62 billion in the first quarter of 2025, up 27.3 percent from the previous year.

China absorbed nearly half of these shipments, cementing its status as Peru’s top trading partner. This trade flow reflects a decade-long trend, with China remaining Peru’s largest export market for ten consecutive years.

Mining drives this export surge. In January 2025, Peru’s mining exports rose 28 percent to $3.99 billion. Copper and gold led the way, with copper exports up 27.7 percent and gold up 44.4 percent compared to the previous year.

These two metals alone accounted for over half of all Peruvian exports. The Andes region, rich in mineral resources, powered this growth, with major mines like Cerro Verde and Las Bambas meeting strong global demand.

Traditional sectors, including hydrocarbons and fisheries, also posted gains. Hydrocarbon exports increased 21.1 percent, while fisheries rose 51.6 percent, driven by higher international demand for fishmeal and related products.

Non-traditional exports, such as processed agricultural goods and textiles, grew 22.5 percent, showing Peru’s efforts to diversify beyond raw materials. China’s demand for minerals and agricultural products underpins this trade relationship.

In 2024, Peru exported $25.23 billion to China, with strong growth in fishmeal, silver concentrate, and iron ore. China imported 148.95 billion yuan of metal ore and 14.47 billion yuan of agricultural products from Peru in the first ten months of 2024.

These figures represent increases of 19.2 percent and 23.8 percent, respectively. Regionally, exporters from the Andes and Amazon outpaced those from Lima, with growth rates near 29 percent.

Twenty-one of Peru’s twenty-five regions reported higher overseas sales, led by Huánuco, San Martín, and Apurímac. This export boom produced a trade surplus of $6.06 billion in the first quarter of 2025.

However, Peru’s reliance on raw materials and a single dominant market raises concerns about long-term resilience. The country’s challenge remains to add value to its exports and diversify its trade partners while leveraging the current windfall.

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