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 2019, Peru GDP was an estimated $229.0 billion (current market exchange rates); real GDP was up by an estimated 2.2%; and the population was 32 million. (Source: IMF)
U.S. goods and services trade with Peru totaled an estimated $21.3 billion in 2019. Exports were $13.7 billion; imports were $7.5 billion. The U.S. goods and services trade surplus with Peru was $6.2 billion in 2019.
Peru is currently our 35th largest goods trading partner with $15.8 billion in total (two way) goods trade during 2019. Goods exports totaled $9.7 billion; goods imports totaled $6.1 billion. The U.S. goods trade surplus with Peru was $3.5 billion in 2019.
Trade in services with Peru (exports and imports) totaled an estimated $5.4 billion in 2019. Services exports were $4.0 billion; services imports were $1.4 billion. The U.S. services trade surplus with Peru was $2.6 billion in 2019.
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' 29th largest goods export market in 2019.
- U.S. goods exports to Peru in 2019 were $9.7 billion, down 0.3% ($27 million) from 2018 but up 96.5% from 2009. U.S. exports to Peru are up 56.4% from 2008 (pre-FTA).
- The top export categories (2-digit HS) in 2019 were: mineral fuels ($3.5 billion), machinery ($1.5 billion), electrical machinery ($559 million), plastics ($451 million), and vehicles ($432 million).
- U.S. total exports of agricultural products to Peru totaled $953 million in 2019. Leading domestic export categories include: corn ($176 million), soybeans ($106 million), wheat ($103 million), cotton ($87 million), and dairy products ($73 million).
- U.S. exports of services to Peru were an estimated $4.0 billion in 2019, 10.9% ($398 million) more than 2018, and 177% greater than 2009 levels. Leading services exports from the U.S. to Peru were in the travel, transport, and financial services sectors.
- Peru was the United States' 41st largest supplier of goods imports in 2019.
- U.S. goods imports from Peru totaled $6.1 billion in 2019, down 22.1% ($1.7 billion) from 2018, but up 45% from 2009. U.S. imports from Peru are up 5.7% from 2008 (pre-FTA).
- The top import categories (2-digit HS) in 2019 were: edible fruit & nuts (cranberries, blueberries, etc) ($1.4 billion), precious metal and stone (gold) ($684 million), knit apparel ($624 million), mineral fuels ($531 million), and vegetables (asparagus) ($381 million).
- U.S. total imports of agricultural products from Peru totaled $2.6 billion in 2019, our 15th largest supplier of agricultural imports. Leading categories include: other fresh fruit ($1.2 billion), processed fruit & vegetables ($357 million), fresh vegetables ($330 million), unroasted coffee ($216 million), and spices ($57 million).
- U.S. imports of services from Peru were an estimated $1.4 billion in 2019, 24.5% ($457 million) less than 2018, but 28.5% greater than 2009 levels. Leading services imports from Peru to the U.S. were in the travel, transport, and research and development sectors.
- The U.S. goods trade surplus with Peru was $3.5 billion in 2019, a 94.8% increase ($1.7 billion) over 2018.
- The United States has a services trade surplus of an estimated $2.6 billion with Peru in 2019, up 48.1% from 2018.
- U.S. foreign direct investment (FDI) in Peru (stock) was $7.5 billion in 2019, a 29.6% increase from 2018. U.S. direct investment in Peru is led by mining, manufacturing, and wholesale trade.
- Peru's FDI in the United States (stock) was $209 million in 2019, up 7.2% from 2018. 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 2017 (latest data available), while sales of services in the United States by majority Peru-owned firms were $2 million.