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Peru Economy 2015
http://www.theodora.com/wfbcurrent/peru/peru_economy.html
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on June 20, 2014

Economy - overview:
Peru's economy reflects its varied topography - an arid lowland coastal region, the central high sierra of the Andes, the dense forest of the Amazon, with tropical lands bordering Colombia and Brazil. A wide range of important mineral resources are found in the mountainous and coastal areas, and Peru's coastal waters provide excellent fishing grounds. Peru is the world's second largest producer of silver and third largest producer of copper. The Peruvian economy has been growing by an average of 5.6% for the past five years with a stable exchange rate and low inflation, which in 2013 was just below the upper limit of the Central Bank target range of 1 to 3%. For the last three years, this growth was due partly to high international prices for Peru's metals and minerals exports, which account for almost 60% of the country's total exports. Despite Peru's strong macroeconomic performance, dependence on minerals and metals exports and imported foodstuffs makes the economy vulnerable to fluctuations in world prices. Peru's rapid expansion coupled with cash transfers and other programs have helped to reduce the national poverty rate by 28 percentage points since 2002, but inequality persists and continues to pose a challenge for the Ollanta HUMALA administration, which has championed a policy of social inclusion and a more equitable distribution of income. Poor infrastructure hinders the spread of growth to Peru's non-coastal areas. Peru's free trade policy has continued under the HUMALA administration; since 2006, Peru has signed trade deals with the US, Canada, Singapore, China, Korea, Mexico, Japan, the EU, the European Free Trade Association, Chile, Thailand, Costa Rica, Panama, Venezuela, concluded negotiations with Guatemala, and begun trade talks with Honduras and El Salvador, Turkey and the Trans-Pacific Partnership. Peru also has signed a trade pact with Chile, Colombia, and Mexico, called the Pacific Alliance, that rivals Mercosur. Since the US-Peru Trade Promotion Agreement entered into force in February 2009, total trade between Peru and the United States has doubled. Although Peru has continued to attract foreign investment, political activism and protests are hampering development of some projects related to natural resource extraction.

GDP (purchasing power parity):
$344 billion (2013 est.)
country comparison to the world: 40

$327.3 billion (2012 est.)
$308 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$210.3 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.1% (2013 est.)
country comparison to the world: 54

6.3% (2012 est.)
6.9% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$11,100 (2013 est.)
country comparison to the world: 112

$10,700 (2012 est.)
$10,300 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
22.2% of GDP (2013 est.)
country comparison to the world: 67

23.3% of GDP (2012 est.)
23.4% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 62.4%
government consumption: 10.8%
investment in fixed capital: 27%
investment in inventories: 0.1%
exports of goods and services: 24.4%
imports of goods and services: -24.7%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 6.2%
industry: 37.5%
services: 56.3% (2013 est.)

Agriculture - products:
asparagus, coffee, cocoa, cotton, sugarcane, rice, potatoes, corn, plantains, grapes, oranges, pineapples, guavas, bananas, apples, lemons, pears, coca, tomatoes, mangoes, barley, medicinal plants, palm oil, marigold, onion, wheat, dry beans; poultry, beef, pork, dairy products; guinea pigs; fish

Industries:
mining and refining of minerals; steel, metal fabrication; petroleum extraction and refining, natural gas and natural gas liquefaction; fishing and fish processing, cement, glass, textiles, clothing, food processing, beer, soft drinks, rubber, machinery, electrical machinery, chemicals, furniture

Industrial production growth rate:
5% (2013 est.)
country comparison to the world: 58
[see also: Industrial production growth rate country ranks ]

Labor force:
16.16 million
country comparison to the world: 38
note: individuals older than 14 years of age (2012 est.)
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 25.8%
industry: 17.4%
services: 56.8% (2011)

Unemployment rate:
3.6% (2012 est.)
country comparison to the world: 29

3.9% (2011 est.)
note: data are for metropolitan Lima; widespread underemployment
[see also: Unemployment rate country ranks ]

Population below poverty line:
25.8% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.4%
highest 10%: 36.1% (2010 est.)

Distribution of family income - Gini index:
48.1 (2010)
country comparison to the world: 25

51 (2005)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $60.95 billion
expenditures: $58.91 billion (2013 est.)

Taxes and other revenues:
29% of GDP (2013 est.)
country comparison to the world: 97
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
1% of GDP (2013 est.)
country comparison to the world: 29
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
14.9% of GDP (2013 est.)
country comparison to the world: 144

16.6% of GDP (2012 est.)
note: data cover general government debt, and includes debt instruments issued by government entities other than the treasury; the data exclude treasury debt held by foreign entities; the data include debt issued by subnational entities
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.9% (2013 est.)
country comparison to the world: 111

3.4% (2011 est.)
note: data are for metropolitan Lima, annual average
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5.05% (31 December 2012)
country comparison to the world: 68

5.05% (31 December 2011)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
20.3% (31 December 2013 est.)
country comparison to the world: 18

19.23% (31 December 2012 est.)
note: domestic currency lending rate, 90 day maturity
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$32.2 billion (31 December 2013 est.)
country comparison to the world: 57

$32.61 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$80.91 billion (31 December 2013 est.)
country comparison to the world: 59

$77.62 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$37.96 billion (31 December 2013 est.)
country comparison to the world: 65

$36.76 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA (31 December 2012)
country comparison to the world: 37

$121.6 billion (31 December 2011)
$160.9 billion (31 December 2010)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$10.31 billion (2013 est.)
country comparison to the world: 177

-$7.137 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$41.48 billion (2013 est.)
country comparison to the world: 60

$45.64 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
copper, gold, lead, zinc, tin, iron ore, molybdenum, silver; crude petroleum and petroleum products, natural gas; coffee, asparagus and other vegetables, fruit, apparel and textiles, fishmeal, fish, chemicals, fabricated metal products and machinery, alloys

Exports - partners:
China 19.9%, US 15.7%, Canada 9.5%, Japan 6.6%, Spain 5.2%, Chile 4.9% (2012)

Imports:
$42.13 billion (2013 est.)
country comparison to the world: 59

$41.11 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
petroleum and petroleum products, chemicals, plastics, machinery, vehicles, color TV sets, power shovels, front-end loaders, telephones and telecommunication equipment, iron and steel, wheat, corn, soybean products, paper, cotton, vaccines and medicines

Imports - partners:
US 24.6%, China 14%, Brazil 6.4%, Argentina 5%, Chile 4.8%, Colombia 4.2%, Ecuador 4.1%, Mexico 4% (2012)

Reserves of foreign exchange and gold:
$65.15 billion (31 December 2013 est.)
country comparison to the world: 33

$64.17 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$50.15 billion (31 December 2013 est.)
country comparison to the world: 63

$50.47 billion (31 December 2012 est.)
note: public debt component of total: $20.6 billion (31 December 2009)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$76.57 billion (31 December 2013 est.)
country comparison to the world: 49

$63.51 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$3.165 billion (31 December 2013 est.)
country comparison to the world: 67

$3.041 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
nuevo sol (PEN) per US dollar -

2.699 (2013 est.)
2.6376 (2012 est.)
2.8251 (2010 est.)
3.0115 (2009)
2.91 (2008)


NOTE: The information regarding Peru on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Peru Economy 2015 information contained here. All suggestions for corrections of any errors about Peru Economy 2015 should be addressed to the CIA.



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