International Trade

cargo, ship, container

Since the 80’s Peru has experienced an increase in its international trade in figures never seen before. We have advised foreign companies who have wanted to open a market in Peru and exporters as well. The commercial relationship between Distributors and Agents with foreign companies has allowed us to substantially develop specialties in cross-border agreements.


Trade agreements

Trade agreements, in particular, are one of the government’s main targets. Peru has signed free trade agreements with the U.S.A., Canada, Chile, China, Venezuela, Costa Rica, the European Union, the European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland), Honduras, Japan, Mexico, Panama, Singapore, South Korea, and Thailand.  It has Framework Agreements with MERCOSUR countries (Argentina, Brazil, Paraguay, Uruguay, and Venezuela).  It has a partial preferential agreement with Cuba.  More agreements have been signed and await full implementation, including with Guatemala, the Pacific Alliance (Mexico, Colombia, and Chile), Brazil, Australia, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership CPTPP (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Singapore and Vietnam). Peru has also ratified the WTO Agreement on Trade Facilitation, which entered into force in February 2017.


Peru’s imports in 2019 by country

Top trading partners (import sources) of Peru in 2019:

  • China with a share of 24% (10.2 billion US$)
  • USA with a share of 20% (8.8 billion US$)
  • Brazil with a share of 5.73% (2.43 billion US$)
  • Mexico with a share of 4.36% (1.85 billion US$)
  • Argentina with a share of 4.17% (1.77 billion US$)
  • Chile with a share of 3.15% (1.33 billion US$)
  • Colombia with a share of 3.14% (1.33 billion US$)
  • Ecuador with a share of 3.02% (1.28 billion US$)
  • Germany with a share of 2.67% (1.13 billion US$)
  • Japan with a share of 2.52% (1.06 billion US$)

Source: Trendeconomy

Imports structure to Peru in 2019 represented by the following main commodity groups:

  • 14% (5.96 billion US$): 27 – Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 13.2% (5.6 billion US$): 84 – Nuclear reactors, boilers, machinery, and mechanical appliances; parts thereof
  • 9.57% (4.05 billion US$): 85 – Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
  • 9.09% (3.85 billion US$): 87 – Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
  • 4.93% (2.09 billion US$): 39 – Plastics and articles thereof
  • 3.59% (1.52 billion US$): 10 – Cereals
  • 3.55% (1.5 billion US$): 72 – Iron and steel
  • 2.7% (1.14 billion US$): 73 – Articles of iron or steel
  • 2.26% (958 million US$): 30 – Pharmaceutical products
  • 1.99% (847 million US$): 90 – Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof.     

         Source: Trendeconomy     

 Customs duties:

  • Ad Valorem Tariff (rates of 0%, 6%, and 11%, as appropriate) Apply to C.I.F. value.
  • General Sales Tax (16%)
  • Municipal Promotion Tax (2%)                                                                                                                    

The following taxes could be applicable additionally and as appropriate:

  • Selective Consumption Tax
  • Specific Duties
  • Provisional corrective Ad Valorem duties
  • Anti-dumping and countervailing duties
  • Domestic value-added tax Pre-payment