You are here
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 2017, Peru GDP was an estimated $215.2 billion (current market exchange rates); real GDP was up by an estimated 2.5%; and the population was 32 million. (Source: IMF)
U.S. goods and services trade with Peru totaled an estimated $18.5 billion in 2016 (latest data available). Exports were $10.6 billion; imports were $7.9 billion. The U.S. goods and services trade surplus with Peru was $2.7 billion in 2016.
Peru is currently our 35th largest goods trading partner with $15.9 billion in total (two way) goods trade during 2017. Goods exports totaled $8.7 billion; goods imports totaled $7.3 billion. The U.S. goods trade surplus with Peru was $1.4 billion in 2017.
Trade in services with Peru totaled an estimated $4.3 billion in 2016 (latest data available). Services exports totaled $2.7 billion; services imports totaled $1.6 billion. The U.S. services trade surplus with Peru was $1.1 billion in 2016.
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' 30th largest goods export market in 2017.
- U.S. goods exports to Peru in 2017 were $8.7 billion, up 9.3% ($736 million) from 2016 and up 110.3% from 2007. U.S. exports to Peru are up 40.1% from 2008 (pre-FTA).
- The top export categories (2-digit HS) in 2017 were: mineral fuels ($2.6 billion), machinery ($1.3 billion), cereals (corn) ($613 million), electrical machinery ($571 million), and plastics ($454 million).
- U.S. total exports of agricultural products to Peru totaled $1.2 billion in 2017. Leading domestic export categories include: corn ($515 million), cotton ($97 million), wheat ($94 million), soybean meal ($90 million), and dairy products ($75 million).
- U.S. exports of services to Peru were an estimated $2.7 billion in 2016 31.4% ($1.2 billion) less than 2015. 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 2017.
- U.S. goods imports from Peru totaled $7.3 billion in 2017, up 16.5% ($1.0 billion) from 2016, and up 38.2% from 2007. U.S. imports from Peru are up 25.3% from 2008 (pre-FTA).
- The top import categories (2-digit HS) in 2017 were: precious metal and stone (gold) ($2.1 billion), mineral fuels ($926 million), edible fruit & nuts (grapes) ($818 million), knit apparel ($581 million), and vegetables (fresh or chilled) ($369 million).
- U.S. total imports of agricultural products from Peru totaled $2.0 billion in 2017. Leading categories include: other fresh fruit ($737 million), fresh vegetables ($329 million), processed fruit & vegetables ($320 million), coffee, unroasted ($223 million), and spices ($49 million).
- U.S. imports of services to Peru were an estimated $1.6 billion in 2016 44.0% ($1.3 billion) less than 2015. 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 $1.4 billion in 2017, a 17.6% decrease ($294 million) over 2016.
- The United States has a services trade surplus of an estimated $1.1 billion with Peru in 2016 (latest data available), up 8.0% from 2015.
- 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 $3.3 billion in 2015 (latest data available), while sales of services in the United States by majority Peru-owned firms were $6 million.