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Peru’s Copper Exports Rose in Q1 of 2023 from Q1 of 2022

Peru’s Copper Exports
  • Peru’s copper exports totalled USD 845 million in Q1 of 2023, an increase from the same quarter of 2022
  • Copper under heading 7403 was exported the most in 2022
  • China and the United States were the top export destinations of Peru’s copper

Peru’s copper exports totaled USD 3375 million in 2022, and USD 845 million in Q1 of 2023. Peru accounts for 11% of global production. China and the United States are the top export destinations of Peru’s copper with a total value recorded at USD 1511 million and USD 664 million respectively in 2022. Quarterly speaking, Peru’s copper export market saw fluctuations in the value of shipments from Q1 of 2022 to Q1 of 2023. Have a thorough analysis of Peru’s exports of copper with valuable stats and market information. 

Quarterly Analysis of Peru’s Exports of Copper

Peru’s copper exports totalled USD 851 million in Q1 of 2022. That dollar amount increased in the second quarter, then decline in the third quarter and rose in the fourth quarter of 2022. In the first quarter of 2023, Peru shipped copper worth USD 870 million. Here’s a look at data visualization that will help you understand the market better and take workable business decisions.

Monthly Stats of Peru Exports Copper 2022

Peru exported copper worth USD 334 million in January 2022, that figure rose to USD 350 million in the same month of 2023. In comparison, Feb 2023 also showed a decline in the value of copper shipments that stood at USD 199 million. In Feb 2022, that value was USD 213 million. As far as March is concerned, USD 283 million worth of copper was supplied to the world in 2022 which rose to USD 295 million in 2023. See the chart below to get a proper analysis.

Peru’s Copper Exports by Heading 2022

Peru exported copper under heading 7403 the most in 2022, followed by heading 7408, and 7409. Here is the list of HS Codes with their values based on actual shipment records.

HeadingProductValue USD Million
7403Refined Copper and Copper Alloys2626
7408Refined Copper Wire366
7409Refined Copper Plates, Sheets & Strips107
7407Copper Bars, Rods &Profiles98
7402Unrefined Copper91
7404Copper Waste & Scrap50
7401Copper Mattes; Cement Copper20
7413Copper Stranded Wire, Cables & Plated Bands13
7410Copper Foil0.7
7419Other Articles of Copper0.5

Peru’s Top 10 Export Destinations of Copper 2022

China was the main country of destination for copper exports from Peru in 2022, followed by the United States, and Brazil. Here’s a list of Peru’s top 10 export destinations of copper with their values recorded in 2022.

According to reports, Peruvian copper exports declined 20% in the first two months of 2023 as production climbed, leaving miners with mounting inventory and contributing to tight global supplies. The world’s No.2 copper producer is recovering from its worst social unrest in decades, which triggered consecutive economic contractions in January and February. Meanwhile, copper production increased by 5% in the same period.

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