The United States and Peru have a strong trade relationship that has grown significantly since the implementation of the United States-Peru Trade Promotion Agreement (PTPA) in 2009. This agreement has helped to boost trade between the two countries, making it easier for businesses to exchange goods and services. Let’s explore the top 10 most traded products between these two nations, along with some interesting facts and statistics.
1. Petroleum Products
Petroleum products are a major component of trade between the USA and Peru. This category includes refined petroleum, crude oil, and petroleum gas.
The United States is a significant exporter of petroleum products to Peru. In fact, refined petroleum is the top export from the USA to Peru, with a value of over $5 billion in recent years. This shows how important energy trade is in the relationship between these two countries.
Peru, on the other hand, also exports some petroleum products to the United States, but in smaller quantities. The trade in this sector helps both countries meet their energy needs and supports their economies.
2. Precious Metals and Stones
Gold is a very important export from Peru to the United States. Peru is known for its rich deposits of precious metals, and gold makes up a large part of what Peru sells to the USA.
In addition to gold, other precious metals and stones like silver are also traded. These valuable items contribute significantly to the trade balance between the two nations.
The trade in precious metals and stones highlights Peru’s natural resources and the USA’s demand for these valuable materials.
3. Agricultural Products
Agriculture plays a big role in trade between the USA and Peru. Both countries exchange a variety of farm products.
From Peru, the United States imports products like grapes, asparagus, avocados, and coffee. These items are popular among American consumers and show up in many grocery stores across the country.
The USA, in turn, exports agricultural goods to Peru, including wheat, soybeans, and cotton. This exchange of farm products helps both countries diversify their food supplies and supports farmers in both nations.
4. Machinery and Equipment
The trade in machinery and equipment is another important aspect of the USA-Peru relationship. The United States exports various types of machinery to Peru, including construction equipment, agricultural machinery, and industrial tools.
This trade helps Peru develop its infrastructure and industries, while providing business opportunities for American manufacturers.
5. Textiles and Apparel
Peru is famous for its high-quality textiles, especially those made from alpaca wool and pima cotton. These products find a ready market in the United States, where consumers appreciate their quality and uniqueness.
The USA also exports some textile products to Peru, creating a two-way trade in this sector. This exchange supports jobs in both countries’ textile industries.
6. Copper and Other Metals
Peru is a major producer of copper and other metals, and these form an important part of its exports to the United States. Refined copper is one of the top items that Peru sells to the USA.
The trade in metals helps supply American industries with necessary raw materials, while providing income for Peru’s mining sector.
7. Fruits and Vegetables
Fresh fruits and vegetables are a significant part of Peru’s exports to the United States. Grapes are the top agricultural export from Peru to the USA, but other fruits like blueberries and mangoes are also popular.
Peru’s diverse climate allows it to grow a wide variety of produce, much of which ends up on American dinner tables. This trade helps provide American consumers with fresh fruits and vegetables year-round.
8. Fish and Fish Products
Peru has a large fishing industry, and fish products are an important export to the United States. This includes items like fish meal and fish oil, which are used in various industries including animal feed production.
The trade in fish products showcases Peru’s rich marine resources and helps supply the USA with important ingredients for its food and agriculture sectors.
9. Chemical Products
Chemical products form another significant category in the trade between the USA and Peru. The United States exports various chemicals to Peru, including plastics, fertilizers, and pharmaceutical products.
This trade supports Peru’s agricultural sector and helps meet the country’s healthcare needs. It also provides opportunities for American chemical companies in the Peruvian market.
10. Vehicles and Auto Parts
While not as large as some other categories, the trade in vehicles and auto parts is still significant. The United States exports cars, trucks, and auto parts to Peru, supporting the country’s transportation needs.
This trade helps modernize Peru’s vehicle fleet and provides business for American auto manufacturers.