With the strategic utilization of its abundant natural resources, Peru is now one of South America’s emerging market economies. Its robust GDP is attributed to industries such as mining, agriculture, manufacturing, and services.

The country exhibited resilience as it has significantly made progress in terms of economic growth and poverty reduction in the past decades. A high level of foreign trade plays a key role in its economy today. 

 

Here’s a list of Peru’s top imports in the last year

  1.     Industrial Machinery – Peru’s attention to industrialization and infrastructure development led to the purchase of $6,766,904,133 worth of equipment and machinery. Used in manufacturing and construction, the main goal of this trade is to facilitate production processes and enhance productivity. Sources of these materials are mainly China, the United States, Germany, Brazil, and Italy.
  2.     Oil & Mineral Fuels – Peru’s importation of crude oil, refined petroleum products, and other energy-related commodities amounted to $6,424,321,121. This helps fuel the country’s vital industries such as transportation, manufacturing, and power generation. Among the oil and mineral fuels suppliers of Peru are the United States, Ecuador, Colombia, Venezuela, and Russia.
  3.     Electrical Machinery – Modernization comes with a cost and it totaled $4,601,256,945 for Peru. Driving innovation and technological advancement, electronic devices, components, and appliances help Peru’s telecommunications, information technology, and consumer electronics sectors thrive. The top merchants of electrical machinery are China, the United States, Japan, South Korea, and Germany.
  4.     Motor Vehicles & Parts – In an effort to meet the domestic demand for passenger and commercial vehicles, Peru bought about $4,399,320,055 worth of motor vehicles and automotive components. Peruvian imports in this category came from Japan, China, the United States, South Korea, and Mexico
  5.     Plastics – The importation of widely-used plastics to Peru amounted $3,007,708,214. It included materials from all levels of manufacturing- raw materials, intermediate products, and finished goods for both domestic consumption and export. Major countries that provide plastics to Peru are China, the United States, Brazil, Mexico, and Germany to meet growing demand in various sectors.
  6.     Iron & Steel – Worth $2,689,655,689 of iron and steel was imported to Peru. Iron ore, steel products, and steel components are all basic materials for building and production processes. These materials predominantly came from countries like China, Brazil, the United States, Mexico, and Germany.
  7.     Cereals – The value of imported cereals such as wheat, rice, maize, and barley to Peru reached $1,944,900,048. This staple food supply from the United States, Argentina, Canada, Brazil, and Ukraine guarantees food security for Peru’s population, aiming to supplement domestic production and stabilize food prices.
  8.     Iron & Steel Articles – Aside from raw iron and steel imports, Peru also has substantial imports of iron and steel articles. It totalled $1,220,647,242 and is being used for construction, manufacturing, and infrastructure projects. Countries like China, the United States, Brazil, Germany, and Italy are mostly involved with this trade.  
  9.     Pharmaceuticals – Healthcare is a vital sector in all countries, Peru included. Imports of medical products, drugs, and healthcare supplies to Peru cost $1,208,308,917. Leading pharmaceutical manufacturing countries like the United States, Switzerland, Germany, France, and India help Peru meet its citizens’ healthcare needs.
  10. Chemical Products – Importation of chemicals consist of a wide range of products- fertilizers, pesticides, and industrial chemicals- that are used in agriculture, manufacturing, and healthcare. Data shows that Peru had $1,058,734,608 spending on chemical products in 2023 from China, the United States, Brazil, Germany, and Argentina.

 

 

 

Conclusions

Peru’s diverse economic landscape is evident through its top imports. Industrialization, modernization, and infrastructure development are on the country’s list of priorities, strengthening its relationships with global trade partners.

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