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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 2018, Peru GDP was an estimated $225.2 billion (current market exchange rates); real GDP was up by an estimated 4.0%; and the population was 32 million. (Source: IMF)
U.S. goods and services trade with Peru totaled an estimated $20.1 billion in 2017 (latest data available). Exports were $11.3 billion; imports were $8.8 billion. The U.S. goods and services trade surplus with Peru was $2.5 billion in 2017.
Peru is currently our 34th largest goods trading partner with $17.5 billion in total (two way) goods trade during 2016. Goods exports totaled $9.6 billion; goods imports totaled $7.9 billion. The U.S. goods trade surplus with Peru was $1.8 billion in 2016.
Trade in services with Peru (exports and imports) totaled an estimated $4.2 billion in 2017 (latest data available). Services exports were $2.7 billion; services imports were $1.5 billion. The U.S. services trade surplus with Peru was $1.2 billion in 2017 (latest data available).
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' 31st largest goods export market in 2018.
- U.S. goods exports to Peru in 2018 were $9.6 billion, up 11.2% ($971 million) from 2017 and up 55.8% from 2008. U.S. exports to Peru are up 55.8% from 2008 (pre-FTA).
- The top export categories (2-digit HS) in 2018 were: mineral fuels ($3.2 billion), machinery ($1.4 billion), cereals (corn) ($561 million), electrical machinery ($546 million), and plastics ($451 million).
- U.S. total exports of agricultural products to Peru totaled $1.3 billion in 2018. Leading domestic export categories include: corn ($507 million), cotton ($113 million), soybeans ($93 million), soybean meal ($83 million), and soybean oil ($70 million).
- U.S. exports of services to Peru were an estimated $2.7 billion in 2017 (latest data available), 1.1% ($31 million) less than 2016, but 80.5% greater than 2007 levels. Leading services exports from the U.S. to Peru were in the travel, transport, and financial services sectors.
- Peru was the United States' 38th largest supplier of goods imports in 2018.
- U.S. goods imports from Peru totaled $7.9 billion in 2018, up 8.2% ($601 million) from 2017, and up 36% from 2008. U.S. imports from Peru are up 35.6% from 2008 (pre-FTA).
- The top import categories (2-digit HS) in 2018 were: precious metal and stone (gold) ($2.1 billion), edible fruit & nuts (grapes) ($1.1 billion), mineral fuels ($1.1 billion), knit apparel ($620 million), and ores, slag, and ash (fresh or chilled) ($364 million).
- U.S. total imports of agricultural products from Peru totaled $2.2 billion in 2018. Leading categories include: other fresh fruit ($984 million), processed fruit & vegetables ($355 million), fresh vegetables ($307 million), coffee, unroasted ($211 million), and spices ($54 million).
- U.S. imports of services from Peru were an estimated $1.5 billion in 2017 (latest data available), 6.3% ($101 million) less than 2016, but 35.2% greater than 2007 levels. Leading services imports from Peru to the U.S. were in the travel, transport, and technical and other services sectors.
- The U.S. goods trade surplus with Peru was $1.8 billion in 2018, a 26.9% increase ($371 million) over 2017.
- The United States has a services trade surplus of an estimated $1.2 billion with Peru in 2017 (latest data available), up 6.4% from 2016.
- U.S. foreign direct investment (FDI) in Peru (stock) was $6.4 billion in 2017, a 10.9% increase from 2016. U.S. direct investment in Peru is led by mining, manufacturing, and nonbank holding companies.
- Peru's FDI in the United States (stock) was $164 million in 2017, up 13.1% from 2016. There is no information on the distribution of Peru FDI in the U.S.
- Sales of services in Peru by majority U.S.-owned affiliates were $1.9 billion in 2016 (latest data available), while sales of services in the United States by majority Peru-owned firms were $5 million.