Report Update: May 1, 2024

Peru - Crude Oil and Processed Petroleum - Market Analysis, Forecast, Size, Trends And Insights

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Price for Crude Oil and Processed Petroleum in Peru - 2021

Price for Crude Oil and Processed Petroleum in Peru (CIF) - 2022

The average import price for crude oil and processed petroleum stood at $501 per ton in 2022, picking up by 16% against the previous year. Over the period under review, the import price, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2018 when the average import price increased by 26%. The import price peaked at $854 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Nigeria ($848 per ton), while the price for the United States ($435 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-0.8%), while the prices for the other major suppliers experienced a decline.

Price for Crude Oil and Processed Petroleum in Peru (FOB) - 2022

The average export price for crude oil and processed petroleum stood at $853 per ton in 2022, surging by 24% against the previous year. Over the period under review, the export price, however, saw a perceptible setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 126%. Over the period under review, the average export prices reached the peak figure at $1,339 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($1,572 per ton), while the average price for exports to Brazil ($543 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Crude Oil and Processed Petroleum in Peru

Crude oil and processed petroleum imports into Peru contracted notably to 11M tons in 2022, which is down by -16.4% compared with the previous year's figure. In general, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +6.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 84%. As a result, imports attained the peak of 14M tons, and then declined rapidly in the following year.

In value terms, crude oil and processed petroleum imports contracted to $5.7B in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +5.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 96%. As a result, imports reached the peak of $5.9B, and then contracted slightly in the following year.

Import of Crude Oil and Processed Petroleum in Peru (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	3,296	2,383	3,910	3,620	3.2%
Brazil	21.5	128	808	941	252.4%
Ecuador	717	72.8	213	470	-13.1%
Nigeria	152	179	270	326	29.0%
Canada	32.4	14.5	192	219	89.1%
Others	728	245	524	155	-40.3%
Total	4,947	3,022	5,918	5,730	5.0%

Top Suppliers of Crude Oil and Processed Petroleum to Peru in 2022:

United States (8.3M tons)
Brazil (1.3M tons)
Ecuador (0.8M tons)
Canada (0.5M tons)
Nigeria (0.4M tons)

Exports of Crude Oil and Processed Petroleum in Peru

Crude oil and processed petroleum exports from Peru reduced to 3.2M tons in 2022, declining by -12.1% against the previous year's figure. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 65% against the previous year.

In value terms, crude oil and processed petroleum exports expanded rapidly to $2.8B in 2022. The total export value increased at an average annual rate of +5.7% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Crude Oil and Processed Petroleum in Peru (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	204	359	891	678	49.2%
Panama	371	269	504	418	4.1%
United States	481	631	331	379	-7.6%
Brazil	358	160	70.5	339	-1.8%
Bolivia	130	221	172	150	4.9%
Chile	195	146	98.5	140	-10.5%
South Korea	0.2	43.5	79.1	131	768.5%
Others	606	641	391	534	-4.1%
Total	2,346	2,470	2,538	2,769	5.7%

Top Export Markets for Crude Oil and Processed Petroleum from Peru in 2022:

Japan (736.1K tons)
Brazil (623.9K tons)
Panama (543.7K tons)
United States (530.1K tons)
South Korea (141.5K tons)
Chile (134.3K tons)
Bolivia (95.1K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for crude oil and processed petroleum in Peru. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Peru

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Peru
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023