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The United States and Peru signed the United States-Peru Trade Promotion Agreement (PTPA) on April 12, 2006. The Peruvian Congress ratified the Agreement in June 2006 and a Protocol of Amendment in June 2007. On December 14, 2007, the U.S.-Peru Trade Promotion Agreement Implementation Act became law, and the PTPA entered into force on February 1, 2009.
U.S.-Peru Trade Facts
In 2016, Peru GDP was an estimated $180.3 billion (current market exchange rates); real GDP was up by an estimated 3.7%; and the population was 31 million. (Source: IMF)
U.S. goods and services trade with Peru totaled an estimated $20.5 billion in 2015 (latest data available). Exports were $12.6 billion; imports were $7.9 billion. The U.S. goods and services trade surplus with Peru was $4.7 billion in 2015.
Peru is currently our 35th largest goods trading partner with $14.3 billion in total (two way) goods trade during 2016. Goods exports totaled $8.0 billion; goods imports totaled $6.2 billion. The U.S. goods trade surplus with Peru was $1.8 billion in 2016.
Trade in services with Peru totaled an estimated $6.8 billion in 2015 (latest data available) Services exports totaled $3.9 billion; services imports totaled $2.9 billion. The U.S. services trade surplus with Peru was $991 million in 2015.
According to the Department of Commerce, U.S. exports of goods and services to Peru supported an estimated 62 thousand jobs in 2015 (latest data available) (38 thousand supported by goods exports and 25 thousand supported by services exports).
- Peru was the United States' 32nd largest goods export market in 2016.
- U.S. goods exports to Peru in 2016 were $8.0 billion, down 8.0% ($696 million) from 2015 but up 174.3% from 2006. U.S. exports to Peru are up 29.9% from 2008 (pre-FTA).
- The top export categories (2-digit HS) in 2016 were: mineral fuels ($2.0 billion), machinery ($1.4 billion), electrical machinery ($657 million), cereals (corn) ($545 million), and plastics ($418 million).
- U.S. total exports of agricultural products to Peru totaled $1.2 billion in 2016, our 24th largest agricultural export market. Leading domestic export categories include: corn ($452 million), soybean meal ($108 million), wheat ($89 million), cotton ($66 million), and soybeans ($57 million).
- U.S. exports of services to Peru were an estimated $3.9 billion in 2015 (latest data available), 27.9% ($845 million) more than 2014. Leading services exports from the U.S. to Peru were in the travel, transportation, and financial services sectors.
- Peru was the United States' 37th largest supplier of goods imports in 2016.
- U.S. goods imports from Peru totaled $6.2 billion in 2016, up 23.7% ($1.2 billion) from 2015, and up 6.3% from 2006. U.S. imports from Peru are up 7.5% from 2008 (pre-FTA).
- The top import categories (2-digit HS) in 2016 were: precious metal and stone (gold) ($2.0 billion), edible fruit & nuts (grapes) ($658 million), knit apparel ($547 million), mineral fuels ($431 million), and vegetables (asparagus) ($380 million).
- U.S. total imports of agricultural products from Peru totaled $1.8 billion in 2016, our 24th largest supplier of agricultural imports. Leading categories include: other fresh fruit ($545 million), fresh vegetables ($336 million), processed fruit & vegetables ($302 million), coffee, unroasted ($230 million), and spices ($53 million).
- U.S. imports of services to Peru were an estimated $2.9 billion in 2015 (latest data available), 33.9% ($731 million) more than 2014. Leading services imports from Peru to the U.S. were in the technical and other services, travel, and transportation sectors.
- The U.S. goods trade surplus with Peru was $1.8 billion in 2016, a 51.5% decrease ($1.9 billion) over 2015.
- The United States has a services trade surplus of an estimated $991 million with Peru in 2015 (latest data available), up 13.0% from 2014.
- U.S. foreign direct investment (FDI) in Peru (stock) was $6.9 billion in 2015 (latest data available), a 6.4% increase from 2014. U.S. direct investment in Peru is led by manufacturing, wholesale trade, and information.
- Peru's FDI in the United States (stock) was $113 million in 2015 (latest data available), down 5.0% from 2014.
- Sales of services in Peru by majority U.S.-owned affiliates were $3.6 billion in 2014 (latest data available), while sales of services in the United States by majority Peru-owned firms were $5 million.