Peru’s gold exports surged in the first five months of 2025, consolidating the metal’s role as a key driver of the country’s trade performance amid global economic volatility. According to the Ministry of Energy and Mines’ Statistical Mining Bulletin (Edition 06– 2025), gold exports reached US$7.83 billion between January and May, up 38.9% compared to the same period in 2024 (US$5.64 billion). In May alone, exports totaled US$1.54 billion, representing an 18.5% increase year-on-year, despite a 15.4% drop in shipped volumes.
The growth was explained primarily by a 40.1% rise in international gold prices, reflecting heightened demand for the metal as a safe-haven asset in the face of global uncertainty and heightened tensions in the Middle East. This price-driven boost offset lower physical output and underscores gold’s resilience as a cornerstone of Peru’s export portfolio. In the current environment, gold remains not just a commodity but also a hedge against geopolitical risk and macroeconomic instability.
The sharp increase in gold export earnings reflects how Peru’s trade performance is closely tied to global commodity cycles. With prices climbing on safe-haven demand, the country has managed to offset lower shipment volumes while strengthening ties with markets like the UAE, Canada, and India. This concentration underscores both the opportunities of capturing premium buyers and the vulnerabilities of relying heavily on a small cluster of destinations.