This study aimed to examine the trade dynamics between Peru and Japan, following the Free Trade Agreement (FTA), during the span of 2011 to 2022. A quantitative approach, descriptive scope, and longitudinal design were adopted, utilizing various indicators to assess the impacts of bilateral trade. The findings indicated an average annual growth in Peruvian exports to Japan and in the trade balance, despite a decrease in imports. The trade intensity index revealed an increase in the intensity of exports, although imports and the trade balance experienced a reduction. According to the Grubel and Lloyd index, the trade exchange was categorized as intraindustrial; however, this categorization has shown a declining trend since the signing of the FTA. Lastly, the Balassa index displayed that both exports and imports are concentrated in the same sectors. For instance, in the traditional sector, a growth and a weak comparative advantage were observed in both exports and imports, with copper and oil standing out as representative products. In the non-traditional sector, exports, despite not showing a comparative advantage, have exhibited growth in recent years, while imports, albeit with a weak comparative advantage, decreased following the implementation of the FTA; the fishery sector being notable as a representative product in this regard.