Saudi Arabia has emerged as one of the most dynamic economic actors in the Middle East, advancing a comprehensive diversification strategy through its Vision 2030 plan. This context presents meaningful opportunities for Peru, which continues to pursue market diversification and stronger commercial ties beyond its traditional partners in North America, Europe, and Asia. As part of this approach, the relationship between Peru and Saudi Arabia is gaining new relevance, not only through growing trade volumes but also through rising investment flows and diplomatic engagement focused on long-term economic cooperation.
Saudi Arabia is currently the third-largest destination for Peruvian exports to the Middle East. With a population exceeding 35 million and a GDP of US$1.2 trillion in 2024 according to the World Bank, Saudi Arabia represents a high-income consumer market with substantial purchasing power. Its per capita GDP of over US$35,000 places it among the wealthiest countries in the region, creating strong demand for high-quality imported food products, technological services, and industrial inputs. In this context, Peru’s competitive agricultural export sector and its growing capabilities in mining, energy, and services create a favorable basis for expanding economic ties.
Growing Peruvian Exports to Saudi Arabia
Between January and August 2025, Peruvian exports to Saudi Arabia reached US$8.6 million, a 16.6% increase from the same period in 2024. Full-year exports in 2024 totaled US$17.2 million, surpassing the previous peak of US$16.8 million recorded in 2015. Although the volume remains modest relative to Peru’s global export portfolio, the upward trend is a strong indicator of rising demand and growing business familiarity between the two markets.
Agro-exports dominate Peru’s shipments to Saudi Arabia, accounting for roughly 87% of total export value. This reflects Peru’s global leadership in supplying high-value fruits, superfoods, and specialty agricultural goods. Fresh blueberries have emerged as the leading export product, generating US$4.2 million in the first eight months of 2025—a remarkable 172% year-on-year increase driven mainly by a 205% jump in export volume. Fresh pomegranates also registered notable gains, with export value rising 202% and volume increasing 229%.
These trends are closely aligned with Saudi Arabia’s broader food import profile. The country imports around 80% of its food due to limited arable land and water resources, ensuring sustained long-term demand for agricultural imports. In 2024, the nation imported nearly US$2 billion in fresh fruits alone—a 5.7% increase over the previous year, according to the International Trade Centre. Peru is well-positioned to expand its participation in this segment, particularly in products where it already has global market strength. For example, Saudi imports of avocados grew by 13% in 2024, while blueberry imports rose by 20%. Green coffee beans also represent a significant opportunity, given Saudi Arabia’s growing specialty coffee culture and the country’s expanding coffee shop sector.
Latin America’s Role in the Saudi Market
The broader region also offers context for the evolving relationship between Peru and Saudi Arabia. Saudi imports from Latin America and the Caribbean grew at an average annual rate of 3.4% over the last decade, reaching US$8.3 billion in 2024. Brazil leads as the region’s principal supplier, accounting for 46% of Saudi imports from Latin America—mainly driven by meat, sugar, and grains. Mexico and Argentina follow, supplying processed foods, beverages, and agricultural commodities. Ecuador’s strong position in the Saudi banana market and Chile’s presence in apples and wood products highlight the competitive environment in which Peru must position itself.
Peru’s export growth potential depends on differentiation, both through product quality and through developing long-term commercial relationships with importers, distributors, and retail chains. Participation in international trade fairs, regional business missions, and halal certification initiatives will be essential to consolidating Peru’s presence in the Saudi market.
Investment and Strategic Cooperation
Beyond trade, investment flows are becoming a foundational pillar in the relationship between Peru and Saudi Arabia. Saudi Arabia’s Vision 2030 is an ambitious strategy to reduce dependence on oil revenues and build new economic engines centered on tourism, renewable energy, logistics, mining, and advanced manufacturing. To accomplish this, Saudi Arabia has deployed significant capital through its Public Investment Fund (PIF), one of the world’s largest sovereign wealth funds.
Saudi investments in Latin America are becoming increasingly visible. Brazil has attracted Saudi capital in the food processing, mining, and aerospace sectors. A notable example is the joint venture between Brazilian meat processor BRF and Saudi Arabia’s Halal Products Development Company, which strengthens Brazil’s role as a key supplier of halal-certified food products. In Chile, Saudi Aramco acquired Esmax in 2024, gaining access to the Chilean fuel and convenience retail market.
Peru has also begun to attract Saudi investment interest. In 2024, MidOcean Energy—a global investment vehicle backed by Saudi Aramco—acquired a 35% stake in Peru LNG, signaling confidence in the long-term development of Peru’s natural gas sector. Likewise, ongoing discussions between the Peruvian Ministry of Energy and Mines and Saudi Arabia’s Ministry of Industry and Mineral Resources aim to finalize a memorandum of understanding on technical cooperation in the mining sector. This agreement, expected to be signed during an upcoming official visit, could facilitate new collaboration in mineral exploration, value-added processing, and industrial technology transfer.
Looking Toward a Strategic Partnership
As global economic dynamics evolve, both countries see diplomatic and commercial advantages in strengthening ties. For Saudi Arabia, Latin America offers a reliable food supply, resource diversification, and new investment opportunities in stable, growing economies. For Peru, closer relations with Saudi Arabia offer access to a high-income consumer market, opportunities for joint investment in mining and energy, and knowledge exchange in logistics, digital infrastructure, and sustainable development.
In this sense, the relationship between Peru and Saudi Arabia is not only commercially practical but strategically aligned with both nations’ long-term goals. Peru’s agricultural, energy, and mineral resources complement Saudi Arabia’s investment capacity and technology-led development agenda. Similarly, deeper cooperation could support Peru in expanding export markets, improving logistics infrastructure, and strengthening its position within global supply chains.
Conclusion
The emerging partnership between Peru and Saudi Arabia presents significant potential for sustained economic cooperation. With complementary economic advantages, shared interests in market diversification, and expanding trade and investment linkages, the two countries are positioned to evolve from transactional commercial exchanges into a broader strategic alliance. As both economies look toward long-term growth, innovation, and international cooperation, strengthening ties between Peru and Saudi Arabia offers a promising opportunity for mutual development and future prosperity.